Today's Mortgage Rates: Wednesday, December 16, 2020
30-year fixed-rate mortgage rates are down from yesterday. 15-year mortgage rates are up from yesterday, while refinance rates are unchanged.
Loan Type | Rate* | APR | Get Started |
30-year fixed purchase | 2.79% | 2.84% | |
15-year fixed purchase | 2.52% | 2.61% | |
30-year fixed refinance | 2.61% | 2.66% | |
15-year fixed refinance | 2.19% | 2.27% |
*rates as of 12/16/2020
Mortgage Rate Comparison
30-year fixed-rate mortgages for home purchases are 2.79%, which is down 0.01% from yesterday and down 0.01% from last week.
15-year fixed-rate mortgages for home purchases are 2.52%, which is up 0.03% from yesterday and up 0.01% from last week.
30-year fixed-rate refinance mortgages are at 2.61%, which is the same as yesterday and down 0.01% from last week.
15-year fixed-rate refinance mortgages are at 2.19%, which is the same as yesterday and down 0.03% from last week.
Mortgage Calculator
What do these rates mean for you? Find out with Benzinga's mortgage calculator.
Enter Your Details in Our Mortgage Calculator. Working Remote? Here is the Best Place Buy a House
One of the perks of working remotely is that you can move to a lower-cost area so your money stretches a little further. Ohio offers a low cost of living, especially when it comes to housing. The median price for a home is $140,700, compared to $231,200 nationally.
Ohio also has slightly lower than average mortgage rates. A 30-year fixed-rate purchase mortgage in Ohio is 2.75%, compared to 2.79% nationally. The average salary in the Buckeye State is $56,476, compared to a national average of $66,665.
Though housing costs are reasonable, the housing market in Ohio is bustling. Home prices are up and inventory is low. If you find your dream home, be sure to put in a competitive offer as soon as possible.
Best Mortgage Lenders
Which lender should you choose? Here are Benzinga's top picks.
Rocket Mortgage® by Quicken Loans®
Buying a home is complicated. Rocket Mortgage makes getting a mortgage easy. You can use the platform at any time. You start with a streamlined application that sync with your bank, so you don't have to upload as much information. You receive custom quotes so you can choose the mortgage that makes the most sense for you. If you have questions along the way, you can count on Rocket Mortgage's award-winning experts to help.
New American Funding
New American Funding has a wide range of mortgage options for buying or refinancing a home. With excellent reviews and an A+ rating from the Better Business Bureau, New American Funding provides stellar support throughout the mortgage process. Whether you're looking for a conventional, FHA, VA or reverse mortgage, it has a product that's right for you. You can start the process online or by calling and working with an agent.
Enjoy Low Rates
Mortgage rates are at historic lows. That means now is the perfect time to buy or refinance a home. Talk to multiple lenders to ensure you get the best terms. Find out when your rate locks and whether you can take advantage of lower rates if they drop after your rate lock. While many housing markets are competitive right now, with patience you can find the perfect home for you and your family.
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