Benchmark U.S. 30-year mortgage rises slightly to 2.67%

Updated: Dec 31, 2020 / 11:57 AM CST

An “I’m Taken” placard rests on a real estate for sale sign outside a home, Thursday, Dec. 10, 2020, in Manchester, N.H. U.S. long-term mortgage rates declined this week to record low levels for the 15th time this year against the backdrop of an economy ravaged by the pandemic. Mortgage finance giant Freddie Mac said Thursday, Dec. 17, 2020, that the average rate on the 30-year fixed-rate home loan fell to 2.67% from 2.71% last week. A year ago, the benchmark rate stood at 3.73%. (AP Photo/Charles Krupa)

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

Loan Amount ($):

This is the total amount you're borrowing from the bank.

Annual Interest Rate (%):

This is the yearly interest rate on your loan.

Loan Term (years):

This is how long you'll take to repay the loan.

Annual Property Tax ($):

This is the yearly tax you pay on your property.

Annual Homeowners Insurance ($):

This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

MCLEAN, Va. (AP) — U.S. long-term mortgage rates ticked up slightly this week but remain near record lows as the coronavirus pandemic continues to wreak havoc on the U.S. and global economies.

The average rate on the benchmark 30-year fixed-rate home loan rose to 2.67% from a record-low 2.66% last week, according to mortgage giant Freddie Mac on Thursday. A year ago, it stood at 3.72%

The average rate on 15-year fixed-rate loans, popular among homeowners seeking to refinance their mortgages, dipped to 2.17% from 2.19% last week. A year ago it averaged 3.16%.

The 5-year adjustable rate mortgage averaged 2.71%, down from last week’s 2.79%. It averaged 3.16% one year ago.

Record low lending rates have helped push buyers into the housing market, but a lack of available homes has left many house hunters empty handed. The lack of supply has been pushing prices up even before the pandemic struck last March.