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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: Ulises Rodriguez-Quintanilla/EyeEm/ Getty Images February 19, 2022 Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. Suzanne De Vita is the mortgage editor for Bankrate, focusing on mortgage and real estate topics for homebuyers, homeowners, investors and renters. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our mortgage reporters and editors focus on the points consumers care about most — the latest rates, the best lenders, navigating the homebuying process, refinancing your mortgage and more — so you can feel confident when you make decisions as a homebuyer and a homeowner. Bankrate logo Editorial integrity
Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. The marketed on Bankrate.com grew less generous in the past week. The average rate for mortgages clicked on by Bankrate readers Wednesday jumped to 3.47 percent from 3.32 percent the previous Wednesday. While this year’s jump in rates marks a reversal from the past two years, . If you aim to or , shopping around is more important than ever. Bankrate’s “clicked-on” rate reflects purchase mortgages and refinances with all terms, including and . The rates sometimes include discount points. The sweetest deals come with some fine print. For instance, to score the best combination of rate and costs, you’ll generally need a credit score of 740 or higher and a down payment of 20 percent or more. And many of the lowest rates posted on Bankrate.com include , a way of buying down the rate by paying more at closing. Rates for mortgages change constantly, and they’ve risen sharply from all-time lows set last year. Those ups and downs reflect the volatility of the mortgage market as the economy continues to recover from the sudden shock of the COVID-19 recession. Rates have returned to pre-pandemic levels. While it still might make sense to refinance your mortgage, the calculation has changed. Most refis now are being done by homeowners pulling out equity to pay for renovations or repairs. Lightbulb Key takeaway Be sure to get at least three offers — you can save thousands of dollars by comparison shopping. Average clicked on rate for purchase loans
The average rate clicked on by Bankrate readers for 30-year purchase mortgages climbed to 3.79 percent from 3.64 percent seven days earlier. At that average rate, you’ll pay $465.39 a month in principal and interest for every $100,000 you borrow. Average clicked on rate for refinance loans
The typical rate clicked on by Bankrate readers for 30-year refinances rose to 3.52 percent from 3.46 percent the previous Thursday. You can use Bankrate’s to find your monthly payments and see the effects of making extra payments. The tool also will help you determine how much interest you’ll pay over the life of the loan. Learn more
SHARE: Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. Suzanne De Vita is the mortgage editor for Bankrate, focusing on mortgage and real estate topics for homebuyers, homeowners, investors and renters. Related Articles