Today’s Mortgage Rates Move Up | January 14, 2022 | Personal-finance

Likewise. Take the time to learn about different types of credit. While the 30-year fixed-rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year loan or an adjustable-rate mortgage. This type of loan is often offered at a lower interest rate than a traditional 30-year mortgage. Compare the costs of each to see which one best suits your needs and financial situation. Government loans — such as those supported by the Federal Housing Authority, the Department of Veterans Affairs, and the Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your tariff. Locking your interest rate once you’ve found the right interest rate, loan product, and lender can ensure your mortgage rate doesn’t go up before you close the loan.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average interest rate offered by over 8,000 lenders in the United States for which the most up-to-date business day rates are available. Today we show interest rates for Thursday 13th January 2022. Our interest rates reflect what a typical borrower with a credit score of 700 might currently expect on a home loan. These rates were offered to people who pay 20% deposit and include discount points.

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