Question 1

What's the lowest 30 Year mortgage rate ever?

Accepted Answer

2.65%

2021: The lowest 30-year mortgage rates ever

Rates plummeted in 2020 and 2021 in response to the Coronavirus pandemic. By July 2020, the 30-year fixed rate fell below 3% for the first time. And it kept falling to a new record low of just 2.65% in January 2021.

Question 2

What is the average historical home interest rate?

Accepted Answer

7.76%

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Source: Freddie Mac

Question 3

What credit score do you need to buy a home?

Accepted Answer

The minimum credit score to buy a home varies by lender and by loan type. FHA Loans have a minimum credit score requirement of 500, but lenders may require a higher score. VA loans don't have a minimum score requirement, but lenders typically look for a score of 620 or higher. Lenders look for a score of 580 or higher for a USDA loan and a score of 620 or higher for a conventional loan.

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