Mortgage rate offers for the week ending June 19, 2021: best offers from lenders

The mortgage offers advertised on got a little less generous last week. The average mortgage rate that Bankrate readers clicked on Wednesday rose to 2.51%, up 5 basis points from the previous Wednesday.

This “clicked” rate reflects purchase mortgages and refinances with all conditions, including 30 and 15 year loans. Prices may include reduction points.

The softer offers come with caveats. For example, to get the best combination of rates and costs, you will typically need a credit score of 740 or higher and a down payment of 20% or higher. And many of the lower rates posted on include discount points, a way to reduce the rate by paying more at close.

Mortgage rates are constantly changing. Rates rose rapidly in early March, then slowed later in the month. In April and May, rates reversed course, falling for five straight weeks, according to Bankrate’s national survey of lenders. The upward and downward trends reflect the unpredictability of the mortgage market as the economy continues its patchy recovery from the COVID-19 recession.

Even after their recent moves, rates remain well below where they were before the coronavirus pandemic sent rates to record highs. This means that it may still be a good idea to refinance your mortgage.

Key to take away

Be sure to shop around – you can save thousands of dollars by getting at least three deals.

Compare mortgage rates in your area now.

Average click-through rate for purchase loans

The average rate that Bankrate readers clicked on 30-year purchase mortgages rose to 2.74%, from 2.65% seven days earlier. At that average rate, you’ll pay $ 407.71 per month in principal and interest for every $ 100,000 you borrow.

Average click-through rate for refinance loans

The average rate that Bankrate readers clicked for 30-year refinances rose to 2.69% from 2.62% the previous Wednesday.

You can use Bankrate’s mortgage payment calculator to find your monthly payments and see the effects of additional payments. The tool will also help you determine how much interest you will pay over the life of the loan.

Compare the refinancing rates in your area now.

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