<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1955936548054264&amp;ev=PageView&amp;noscript=1">

Mortgage Rates Today

Everything You Need To Know About Current Interest Rates
Everybody Wants to Know:

What are Current Interest Rates?

One of the most important things you can do when buying a new home is to sit down and compare interest rates.

When you see mortgage interest rates listed on lender websites they are just estimates or quotes and will vary based on your unique situation.

For that reason, we do not post interest rates online. We have found it can often be misleading and confusing for our clients.

At Churchill Mortgage, we want you to get the Smarter Mortgage. It’s easy to get trapped into a mortgage that just doesn’t make sense for you. Getting the Smarter Mortgage plan keeps you engaged through the home buying (or refinancing) process and provides tools to better facilitate financial decision before and after your loan closes.

The result allows you to choose the right mortgage for your situation with guidance from a Home Loan Specialist, and helps you build wealth over time.

rate watch on iphone

Know when rates drop with Churchill Rate Watch.

Get Free Rate Alerts!
browser window calculator form

Compare Interest Rates with our Mortgage Calculators.

See Mortgage Calculators

Want to know your actual numbers? Connect with a Home Loan Specialist!

So then...

What Actually Determines Your Interest Rate??

Interest rates are based on the bond market (mortgage-backed securities) and are typically standard across the industry. So, going with a ‘low-rate lender’ is a bit of a misnomer since rates don’t really fluctuate that much across lenders.

On any given day, there are a variety of factors that can impact your specific interest rate:

  • Home price and loan amount: Your home price minus your down payment will determine how much you’ll borrow which helps determine how much the interest rate will be.
  • Down payment: Generally, a higher percentage down payment equals a lower interest rate. The more money you put down, the more stake you have in the property.
  • Loan term: Shorter terms (like a 15-year or a 20-year) generally have lower interest rates than a 30-year term.
  • Interest rate type: Interest rates come in two basic types: fixed and adjustable. Fixed rates do not change over time. Adjustable rates, on the other hand, have an initial fixed period then go up or down based on the market. For example, a 5-year ARM loan will have a fixed-rate for the first 5 years and then the rate will fluctuate from the 6th year onward.
  • Loan type: Different categories of loans (like conventional, fixed-rate, FHA, etc.) have different rates.
  • Credit score: Primarily based on credit report information usually sourced from credit bureaus. Typically, this is called your FICO score and is based on your credit history. If you are debt-free, you will have a zero-credit score.
Factors That Can Affect Mortgage Rates:
Home Price
Loan Amount
Loan Term
Interest Rate Type
Loan Type
Credit Score
Down Payment
browser window blog website

What are interest and mortgage rates, and why are they important?

How Rates Are Determined

Look at the Real Numbers and Understand Your Options

The lowest interest rate doesn’t always get you the best deal, so don’t get too excited about an interest rate before you do the math. Take the time to talk a qualified home loan expert who will listen to what you have to say and customize the best loan terms and interest rate for you.

It’s easy to let mortgage rates distract you so stay focused on your main goal—saving money!

What's the Difference?

Mortgage Interest Rates vs. APR

While interest rates and annual percentage rates are related, they are not the same, but you will see both listed for mortgages.

  • The mortgage interest rate is the interest you will pay on your home loan. The lower your interest rate, the lower your payment.
  • APR is the interest rate PLUS other fees and costs associated with buying a home, so this is what you’ll end up paying on top of the principal (or the amount you borrowed for your mortgage). By law, the APR must be disclosed in any loan agreement (and on all advertising for loans that specify an interest rate). If you see an advertisement with a super low interest rate with no APR in sight, it’s probably best to steer clear.
browser window mortgage refinance calculator

See how lowering your interest rate can help you save money on interest!

Refinance Calculator
Common Home Buyer Question:

How Do I Get the Best Mortgage Rate?

A Churchill Home Loan Specialist will empower you to make the best decision for you and your family. In our Home Buyer Strategy Meeting we talk about your short- and long-term financial goals, how to get the best interest rate for your situation, and establish a baseline for how much house you can afford.

If you’re not quite ready to talk to a Home Loan Specialist, here’s a few ways you can improve your interest rate:

  • Get a consistent, fixed-rate mortgage so your interest rate will not fluctuate over the life of the loan. Adjustable rate mortgages might start off with a lower interest rate but will change over time.
  • Take advantage of special loan programs that may be available to you (especially if you are a first-time home buyer).
  • Save for a down payment. You’ll get a better interest rate the more money you put toward your down payment.
  • Keep an eye on your credit score since interest rates can be impacted by your credit history. This is important even if you have you are debt free and have no credit score—you want to make sure your credit score stays at 0!
  • Check out all your loan options. Generally, a 15-year loan will have a lower interest rate than a 30-year loan. A 15-year loan will have a lower interest rate than a 30-year loan, for example.
  • Reduce as much debt as possible.
the truth about loan quotes ebook on ipad
The Truth About Loan Quotes

Find out how to cut thorugh the bull of loan quotes with this free ebook.

Get Your Free Guide
Connect With A Mortgage Expert!

Are you buying a home or refinancing?

Where are you planning to buy a home?

Please Select a State

What is your full name?

Please Enter a Name
Please Enter a Last Name

What is your email address?

Please Enter a Valid Email Address
  We won't share your information.

Next, we need to verify a phone number.

Enter a Valid Phone Number
Please Select a Message Type

Enter your phone number and we'll text you a 6-digit security code to verify it's you. Standard texting and data rates may apply. Message frequency may vary. Text the word HELP to 615-488-4941 for more information. You can opt out by responding STOP at any time. For more information, read our Privacy Policy, Mobile Policyand Terms & Conditions..

Enter the 6-digit code sent to your device.

 Code sent to +1234567890

Finally, how did you hear about us?

Please Select an Option

By submitting this form, I/we agree to your Privacy Policy Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive SMS text messages sent by an automatic telephone dialing system. Message and data rates may apply. Message frequency may vary. Text the word HELP to 615-488-4941 for more information. You can opt out by responding STOP at any time. For more information, read our Privacy Policy, Mobile Policyand Terms & Conditions. Consent to these terms is not a condition of purchase.

Your answer will NOT negatively affect your mortgage application. Your answer does not mean the Lender or Other Loan Participants agree to communicate or provide documents to you in your preferred language. However, it may let them assist you or direct you to persons who can assist you. Language assistance and resources may be available through housing counseling agencies approved by the U.S. Department of Housing and Urban Development. To find a housing counseling agency, contact one of the following Federal government agencies. U.S. Department of Housing and Urban Development (HUD) at (800)569-4287 or www.hud.gov/counseling

Es probable que su transacción de préstamo hipotecario suceda en inglés. Por medio de esta pregunta, solicitamos información para determinar si existen comunicaciones disponibles a su servicio, en su idioma preferido. Sírvase tener en cuenta: posiblemente NO hay comunicaciones disponibles en su idioma preferido.

Thank You!

Thank you for choosing Churchill Mortgage to help you with your home loan needs!

Our team is already hard at work connecting you with your Home Loan Specialist. Rest assured that we've received your request and will be in touch with you shortly.

social proof logos

Already working with someone at Churchill?

Find Your Home Loan Specialist

Please Select a Loan Officer