Today’s Mortgage Rates: Most Rates Remain Unchanged, 20-Year Fixed Rises | June 8, 2021


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Check out the mortgage rates for June 8, 2021, which have been rising since yesterday. (iStock)

Based on data from Credible, mortgage rates have risen since yesterday.

  • 30 year fixed mortgage rate: 2,750%, immutable
  • 20 year fixed mortgage rate: 2.750%, above 2.625%, +0.125
  • 15 year fixed mortgage rate: 2,000%, immutable
  • 10-year fixed mortgage rate: 2,000%, immutable

Rates last updated on June 8, 2021. These rates are based on assumptions shown here. Actual rates may vary.

What this means: While most mortgage rates have remained unchanged since early June, 20-year mortgage rates continue to fluctuate, rising to 2,750% since yesterday.

To find the best mortgage rates, start by using Credible, which can show you current mortgage and refinancing rates:

Browse the rates of multiple lenders so you can make an informed decision about your mortgage.

Credible, a personal finance marketplace, has 4,500 Trustpilot reviews with an average star rating of 4.7 (out of a possible 5.0).

Looking at the current mortgage refinance rates

The current 10-year fixed mortgage rate has risen to 2.125%, up 2% since yesterday. The 15- and 20-year fixed refinancing rates have remained unchanged since early June. And the 30-year refinancing rate has held steady at 2,750% for 20 consecutive days. If you are considering refinancing an existing home, see what the refinancing rates look like:

  • 30-Year Fixed Refinancing Rates: 2,750%, immutable
  • 20-year fixed refinancing rates: 2,750%, immutable
  • 15-Year Fixed Refinancing Rates: 2,000%, immutable
  • 10-year fixed refinancing rates: 2.125%, above 2,000%, +0.125

Rates last updated on June 8, 2021. These rates are based on assumptions shown here. Actual rates may vary.

A site like Credible can be of great help when you are ready to compare mortgage refinancing loans. With Credible, you can see prequalified rates for conventional mortgages from multiple lenders in minutes. Visit Credible today start.

Credible has earned a rating of 4.7 stars (out of a possible 5.0) on Trustpilot and over 4,500 reviews from customers who have securely compared prequalified rates.

How do I get a low mortgage rate?

Mortgage and refinancing rates are affected by many economic factors, such as unemployment rates and inflation. But your personal financial history will too determine the rates offered to you.

If you want to get the lowest possible monthly mortgage payment, taking the following steps can help you get a lower rate on your home loan:

It is also a good idea to compare the rates of different lenders to find the best rate for your financial goals. According to research by Freddie Mac, borrowers can save an average of $1,500 over the life of their loan by purchasing just one additional rate quote — and $3,000 on average by comparing five rate quotes.

Credible can help you compare current rates from multiple mortgage lenders at once in just a few minutes. Do you want to refinance an existing home? Use Credible’s online tools to compare rates and get prequalified today.

Current mortgage interest

The average mortgage interest rate has remained well below 2.4% for six days in a row.

Current mortgage interest over 30 years

The current interest rate for a 30-year mortgage is 2,750%. This is the same as yesterday. Thirty years is the most common repayment term for mortgages, because mortgages with a term of 30 years usually have a lower monthly payment. But they also usually have higher interest rates, meaning you end up paying more interest over the life of the loan.

Current mortgage interest over 20 years

The current interest rate for a 20-year mortgage is 2,750%. This is from yesterday. Shortening your repayment term by just 10 years can mean you get a lower interest rate — and pay less overall interest over the life of the loan.

Current mortgage interest over 15 years

The current interest rate for a 15-year mortgage is 2,000%. This is the same as yesterday. Fifteen-year mortgages are the second most common mortgage term. A 15-year mortgage can help you get a lower rate than a 30-year term — and pay less interest over the life of the loan — while keeping monthly payments manageable.

Current 10-year mortgage rate

The current interest rate for a 10-year fixed-rate mortgage is 2,000%. This is the same as yesterday. While less common than 30- and 15-year mortgages, a 10-year fixed-rate mortgage typically gives you lower interest rates and lifetime interest costs, but a higher monthly mortgage payment.

You can explore your mortgage options in minutes by going to Credible to compare current rates from various lenders offering both mortgage refinancing and home loans. View Credible and get prequalified today, and view today’s refinancing rates at the link below.

Thousands of Trustpilot reviewers rate Credible as “excellent”.

Rates last updated on June 8, 2021. These rates are based on assumptions shown here. Actual rates may vary.

How mortgage rates have changed

Today, mortgage rates are unchanged from last week at this time.

  • 30 year fixed mortgage rate: 2,750%, same as last week
  • 20 year fixed mortgage rate: 2,750%, same as last week
  • 15 year fixed mortgage rate: 2,000%, same as last week
  • 10-year fixed mortgage rate: 2,000%, same as last week

Rates last updated on June 8, 2021. These rates are based on assumptions shown here. Actual rates may vary.

If you’re trying to find the right rate for your home mortgage or refinance an existing home, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see prequalified rates in minutes.

With over 4,500 reviews, Credible maintains an “excellent” Trustpilot score.

The 2021 mortgage interest forecast

Researchers at Freddie Mac expects mortgage rates to rise slightly in 2021, citing the Federal Reserve’s commitment to keep interest rates low for the foreseeable future.

Fannie Mae Researchers expect mortgage rates to move slightly higher this year, citing a continued rise in 10-year government bond yields. Ultimately, though, Fannie Mae experts believe lenders will “absorb” some of the high costs as “refinancing demand gradually declines” — keeping interest rates at relatively stable levels.

Here are the predictions for what the 30-year fixed rate will look like for the rest of the year:

Freddie Mac

  • Q2 (April to June): 2.9%
  • Q3 (July to September): 3.0%
  • Q4 (October to December): 3.0%

Fannie Mae

  • Q2 (April to June): 2.8%
  • Q3 (July to September): 2.9%
  • Q4 (October to December): 2.9%

How accurate were their predictions?

Actual average 30-year fixed rate in Q1 (January to March): 2.877%

  • Freddie Mac Prediction: 2.9%
  • Fannie Mae forecast: 2.7%

Do you want to lower the rate of your home insurance?

Home insurance can help you cover unexpected costs you may incur while owning a home, such as structural damage and destruction or stolen personal property. Coverage can vary widely between lenders, so it’s wise to shop around and compare policy quotes.

Credible works with a home insurance broker. If you are looking for a better price on home insurance and considering switching providers, consider using an online broker. You can compare quotes from the top rated insurance companies in your area – it’s fast, easy and the whole process can be completed completely online.

Do you have a financial question, but you don’t know who to ask it? Email The Credible Money Expert at: moneyexpert@credible.com and your question can be answered by Credible in our Money Expert column.

A credible authority on mortgages and personal finance, Chris Jennings has covered topics such as mortgages, mortgage refinancing, and more. He has been an editor and editorial assistant in the online personal finance space for four years. His work has been recommended by MSN, AOL, Yahoo Finance and more.

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