![]() ![]() This time in May, the rate was lower at 5.90%. The average 20-year fixed mortgage rate is 6.20%, a slight increase from last week. 20-year Fixed Mortgage Rates Increase (+0.04%) With this type of mortgage, you'll pay back what you borrowed over 30 years, and your interest rate won't change for the life of the loan. The 30-year fixed-rate mortgage is the most common type of home loan. A month ago, the rate was lower at 6.33%.Īt 6.55%, you'll pay $635 monthly toward principal and interest for every $100,000 you borrow. ![]() The current average 30-year fixed mortgage rate 6.55%, down nine basis points since this time last week. Mortgage Rates for Buying a Home 30-year Fixed Mortgage Rates Decrease (-0.09%)
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