Mortgage rates stabilize as homebuyer demand rises.

Mortgage rates for home purchases and refinance have remained steady for most key terms, with 15-year terms having the lowest rates. Homeowners with mortgages from 2019 and older could potentially save on interest by refinancing with today's lower rates. Credit scores are a significant factor in qualifying for a mortgage, with conventional loans usually requiring a fair credit score of at least 620. Borrowers can use Credible's online tool to compare multiple lenders and see prequalified rates.