This can be beneficial, as different investors may have different investing timelines, and thus different needs. Fortunately, the SBL program offers a variety of both fixed and floating-rate mortgage options. You can compare the estimated annual percentage rate (APR) offered by some of Credible's partner lenders in the table below.Interest Rate Information for the Freddie Mac Small Balance Loan Programįreddie Mac Optigo Small Balance Loans have some of the most competitive interest rates on the market, especially considering that they allow investors to take out loans as small as $750,000. Lock in your mortgage purchase or refinance rate now by shopping around on Credible. By refinancing to a shorter mortgage term, you may be able to pay off your total loan amount faster without significantly increasing your mortgage payments.ĭon't miss out on historically low mortgage rates again, because it's impossible to know if rates will continue to drop or even how long they'll stay this low. Homeowners who are considering refinancing should do so while 15-year rates are near record lows. VETERANS BORROWING VA LOANS AT A RECORD PACE, STUDY SHOWS
We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover around three percent. 15-year rates also dropped to historic lows in January 2021, dipping as low as 2.16% - not much lower than the current rate of 2.20%. 7, 2021, but it's not likely that mortgage rates will drop that low again as the economy continues its post-pandemic recovery. Rates on a 15-year fixed-rate mortgage are 2.20%, down 0.06% from last week and 0.311% from last year.ģ0-year mortgage rates hit an all-time low of 2.65% the week of Jan. Rates on a 30-year fixed-rate mortgage are 2.90%, which is 0.08% lower than the week prior and 0.13% lower than July 2020, according to Freddie Mac. Rates on both 15-year and 30-year mortgage options are lower than they were a year ago. Mortgage rate trends: What to know if you're buying or refinancing ADJUSTABLE-RATE MORTGAGES HAVE ADVANTAGES FOR HOMEOWNERS - HOW YOU COULD BENEFIT
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