Fixed-rate mortgage

Lock in a great rate for the life of your loan. Predictability and consistency are wonderful things — especially when you’re able to secure a fixed-rate for your mortgage.

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10/30/2020 Fixed-rate mortgage rates

30-year fixed¹

3.071% APR

20-year fixed¹

2.875%

2.975% APR

15-year fixed¹

2.5%

2.628% APR

10-year fixed¹

2.375%

2.562% APR

Note that down payment is not included in the calculation.

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Frequently Asked Questions

A fixed-rate mortgage gives you the security and stability of having the same monthly payment over the life of your loan. You can choose a longer term for lower monthly payments that fit your budget. Alternatively, you can choose a shorter term with higher monthly payments, which means you’ll pay less interest in the long run.
Points provide a way for you to lower the interest rate, and in turn lower your monthly mortgage payment. One mortgage point is equal to 1% of your mortgage amount. For example, on a $200,000 loan, one mortgage point is equal to $2,000. You can pay 1 point, or $2,000, at closing in exchange for a lower interest rate over the life of your loan.
Your APR, or annual percentage rate, reflects your interest rate plus any fees that you pay to obtain your loan. Your interest rate is simply the annual cost of your loan expressed as a percentage. This doesn’t factor in the fees you paid to originally obtain your loan.
A conforming mortgage is the mortgage loan limit set by Fannie Mae and Freddie Mac. For single family properties in most counties, the conforming limit is $510,400 and any mortgage loan amount of more than $510,400 is a jumbo mortgage.