Mortgage interest rates can vary depending on several factors, including the type of loan, the lender, and the borrowers creditworthiness. Here are some examples of current mortgage interest rates from different sources as of September 2023:
- Bankrate reports that the average rate on 30-year mortgages is 7.64%, while the national average 30-year refinance interest rate is 7.83%.
- NerdWallet explains that the mortgage rate a lender offers is determined by a mix of factors that are specific to the borrower and larger forces that are beyond their control. For example, the kind of loan, the intended use of the home, and the borrowers credit score can all influence the mortgage rate offered.
- U.S. Bank provides sample rates based on a loan amount of $464,000 and a down payment of at least 25%. The current rate for a 30-year fixed mortgage is 7.500%.
- Wells Fargo offers customized purchase and refinance rates based on the borrowers specific needs. For example, the 30-year fixed-rate jumbo loan has an interest rate of 6.875%, while the 30-year fixed-rate VA loan has an interest rate of 6.625%.
- Bank of America lists competitive mortgage rates for different types of loans, including 30-year fixed-rate mortgages at 8.000% and 20-year fixed-rate mortgages at 7.875%.
Its important to note that these rates are subject to change and may not reflect the rates offered to individual borrowers. To get an accurate estimate of mortgage interest rates, borrowers should shop around and compare rates from multiple lenders.