average mortgage interest rate for bad credit

Is a credit score of 725 better than a score of 720? It’s not always clear. That’s because lenders make credit decisions on credit cards, mortgage loans, and other accounts based on FICO credit score.

With the average interest rate on a 30-year, fixed-rate loan sitting at 4.44% as of this writing, someone purchasing a median-priced home with a typical 20% down payment would owe $169,390 in interest over the 30-year life of their mortgage – or $5,646 a year in interest.

Mortgage rates managed to. hang-ups were a few tweaks that gave more credit to recent economic strength and improvements in the inflation outlook. A stronger inflation outlook is bad for bonds and.