So a good mortgage rate could look drastically different from one day to the next. Throughout the first half of 2021, the best mortgage rates have been in the high-2% range. And a ‘good’ mortgage rate has been around** 3% to 3.25%**. Of course, these numbers vary a lot from one borrower to the next, as we explain below.

Contents

- 1 What is a good interest rate for a house?
- 2 Is 3.125 a good mortgage rate?
- 3 What is the lowest mortgage rate ever?
- 4 What is the current Fed rate 2020?
- 5 How do I know if it makes sense to refinance?
- 6 What is a good APR on a 30-year mortgage?
- 7 What was the lowest interest rate in 2020?
- 8 What’s the catch with refinancing?
- 9 What is the lowest 30-year fixed rate ever?
- 10 What is the current US interest rate?
- 11 What is prime rate today?

## What is a good interest rate for a house?

Anything at or below 3% is an excellent mortgage rate. And the lower, your mortgage rate, the more money you can save over the life of the loan.

## Is 3.125 a good mortgage rate?

Throughout the first half of 2021, the best mortgage rates have been in the high–2% range. And a ‘good’ mortgage rate has been around 3% to 3.25%.

## What is the lowest mortgage rate ever?

The mortgage rates trend continued to decline until rates dropped to 3.31% in November 2012 — the lowest level in the history of mortgage rates.

## What is the current Fed rate 2020?

What is the current federal reserve interest rate? The current federal reserve interest rate, or federal funds rate, is 0% to 0.25% as of March 16, 2020.

## How do I know if it makes sense to refinance?

So when does it make sense to refinance? The typical should-I-refinance-my-mortgage rule of thumb is that if you can reduce your current interest rate by 1% or more, it might make sense because of the money you’ll save. Refinancing to a lower interest rate also allows you to build equity in your home more quickly.

## What is a good APR on a 30-year mortgage?

The best 30-year mortgage rates are usually lower than 4%, and the average mortgage rate nationally on a 30-year fixed mortgage is 3.86% as of January 2020. However, mortgage rates have gone as low as 3.32% and as high as 18.39% in the past.

## What was the lowest interest rate in 2020?

Mortgage rates in 2020 have dropped due to the Federal Reserve lowering rates in response to COVID-19. As of this writing in November 2020, the average 30-year fixed mortgage rate with a 20% down payment had just hit fresh record lows at 2.72% according to Freddie Mac.

## What’s the catch with refinancing?

The catch with refinancing comes in the form of “closing costs.” Closing costs are fees collected by mortgage lenders when you take out a loan, and they can be quite significant. Closing costs can run between 3–6 percent of the principal of your loan.

## What is the lowest 30-year fixed rate ever?

What is the lowest 30-year mortgage rate ever? At the time of writing, the lowest 30-year mortgage rate ever was 2.66% (according to Freddie Mac’s weekly rate survey). That number may have changed since. And remember the “lowest-ever” is an average rate.

## What is the current US interest rate?

In September 2021, the Federal Reserve maintained its target for the federal funds rate at a range of 0% to 0.25%. Prior to March 2020, the last time the Fed cut interest rates to this level was December 2008.

## What is prime rate today?

What is the current prime rate? The prime rate is 3.25% as of July 2020, according to the Fed. This is the lowest rate in the past year and since 2008.