Current Mortgage Rates Today and Home Loans

Buying a new home is one of the largest purchases you will likely make in your lifetime, so be smart about which home loan you choose and the terms. Keep your future monthly payments low and budget in check by finding the lowest mortgage rates today for your new loan.

Popular Types of Mortgage Loans:

Fixed Rate Mortgage (FRM) or a Traditional Mortgage:

A fixed mortgage loan is a loan with an interest that does not fluctuate and remains fixed at the same APR during the life of the loan.

Adjustable Rate Mortgage (ARM):

The mortgage interest rates of adjustable rate mortgages fluctuate at a regular interval and change based on current mortgage rates.

Hybrid Mortgage:

Hybrid mortgage loans are a relatively recent development among mortgage lenders and their terms fuse the benefits of a fixed mortgage and an ARM.

If you've decided to work toward buying a home, you'll need to have a down payment prepared before seeing a mortgage lender. The down payment is essential in the home loan process, as it helps to secure the loan and can possibly give you an in to more competitive mortgage interest rates and offers. The general amount that a borrower should save is at least 20 percent of the home price.

This amount may seem really high, especially for those who don't have an expanse of savings funds waiting to be spent, but keeping to this recommended down payment guideline can save you money in mortgage rates down the line.

Read more mortgage rates, tips and reviews from GOBankingRates below.

Need Home Repairs? Apply for a Personal Loan

Most Read Mortgage Rates Articles

Tiny Home Communities for Eco-Lovers

Whether you want to live in a tiny house permanently, stay at a tiny house resort or just see what a tiny home looks like in person, here ar...

6 Reasons to Get a Second Mortgage in Seattle

Here are six reasons drawing on your home's equity can improve your finances no matter the situation.

Read More »

5 Ways to Make Your Chicago Mortgage More Affordable

From ditching PMI to taking a shorter loan duration, here are the best ways to save money on your Chicago home loan.

Read More »

Why Buying a Home in Salt Lake City Is Better Than Renting

From tax incentives to rising property values, here's why you should buy a home in Salt Lake City.

Read More »

4 Tax Credits and Other Ways to Save When Buying a Miami Home

Make sure you get the best deal on your home purchase with these four tips.

Read More »

Mortgage Loan Process

Not all financial institutions are created equal, as some mortgage lenders will tack on charges and mortgage points to get the most out of your hard-earned money. Taking a strategic route, however, can not only save you money in the short term, educating yourself about the various home buying options and current mortgage rates can help reinforce whether you make a sound financial choice overall.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.


Featured In: