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Todays mortgage rates — 30-year fixed rates take a sharper dive | October 28, 2020 – Fox Business

https://www.foxbusiness.com/money/todays-mortgage-rates-october-28-2020

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Our goal here at Credible is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders, all opinions are our own.

Check out the mortgage rates for October 28, 2020, which are unchanged since yesterday — with one exception. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, mortgage rates remained unchanged compared to yesterday — with the exception of 30-year fixed rates, which have declined further.

  • 30-year fixed-rate mortgages: 2.625%, Down from 2.750%, -0.125
  • 20-year fixed-rate mortgages: 2.625%, Unchanging
  • 15-year fixed-rate mortgages: 2.125%, Unchanging

Rates last updated on October 28, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

To find the best mortgage rate, start by using Credible. Credible can show you current mortgage rates for conventional loans from multiple lenders and help you make an informed decision regarding your home loan.

Looking at today’s mortgage refinance rates

Today’s mortgage refinance rates mirror rates for fixed mortgages in general, with 30-year fixed refinance rates dropping while other rates held firm. Mortgage refinance rates, like mortgage rates overall, have tended to stay at historically low levels recently, despite some day-to-day fluctuation.

If you’re considering refinancing an existing home, check out what refinance rates look like:

  • 30-year fixed-rate refinance: 2.875%, Down from 3.000%, -0.125
  • 20-year fixed-rate refinance: 2.875%, Unchanging
  • 15-year fixed-rate refinance: 2.375%, Unchanging

Rates last updated on October 28, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

A site like Credible can be a big help when you’re ready to compare mortgage refinance loans. Credible lets you see prequalified rates for conventional mortgages from multiple lenders all within a few minutes. Visit Credible today to get started.

Current mortgage rates

Today’s mortgage interest rates are the lowest recorded in thirteen consecutive days.

Current 30-year fixed-rate mortgages

The current interest rate for a 30-year fixed-rate mortgage is 2.625%. This is down from yesterday.

Current 20-year fixed-rate mortgages

The current interest rate for a 20-year fixed-rate mortgage is 2.625%. This is the same as yesterday.

Current 15-year fixed-rate mortgages

The current interest rate for a 15-year fixed-rate mortgage is 2.125%. This is the same as yesterday.

You can explore your mortgage options in minutes by visiting Credible to compare current rates from various lenders. Check out Credible and get prequalified today.

Rates last updated on October 28, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

How mortgage rates have changed

Today, mortgage rates are down across the board compared to this time last week.

  • 30-year fixed-rate mortgages: 2.625%, down from 2.750% last week, -0.125
  • 20-year fixed-rate mortgages: 2.625%, down from 2.750% last week, -0.125
  • 15-year fixed-rate mortgages: 2.125%, down from 2.250% last week, -0.125

Rates last updated on October 28, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

If you’re trying to find the right rate for your home mortgage, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see prequalified rates in just a few minutes.

The factors behind today’s mortgage rates

Current mortgage and refinance rates are affected by many economic factors, like unemployment numbers and inflation. But your personal financial history will also determine the rates you’re offered.

Larger economic factors

  • Strength of the economy
  • Inflation rates
  • Employment
  • Consumer spending
  • Housing construction and other market conditions
  • Stock and bond markets
  • 10-year Treasury yields
  • Federal Reserve policies

Personal economic factors

  • Credit score
  • Credit history
  • Down payment size
  • Loan-to-value ratio
  • Loan type, size, and term
  • Debt-to-income ratio
  • Location of the property

How to get your lowest mortgage rate

If you want low mortgage rates, improving your credit score and paying down any other debt could secure you a lower rate. The size of your down payments also affects mortgage rates, with a low down payment likely to yield you a higher rate.

It’s also a good idea to compare rates from different lenders to find the best rate for your financial goals. According to research from Freddie Mac, borrowers can save $1,500 on average over the life of their loan by shopping for just one additional rate quote — and an average of $3,000 by comparing five rate quotes.

Credible can help you compare current rates from multiple mortgage lenders at once in just a few minutes. Use Credible’s online tools and get prequalified today.

Mortgage interest rates by loan type

Whether you’re a first-time homebuyer shopping for a 30- or 15-year mortgage, or you’re looking to refinance an existing home, Credible can help you find the right mortgage for your financial goals.

Be sure to check out these loan rates, which you’ll be able to compare by annual percentage rate (APR) as well as interest rate:

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PG&E rate hike aimed at improvements to ease fire risk – KCRA Sacramento

https://www.kcra.com/article/pgande-rate-hike-aimed-improvements-to-ease-fire-risk/34868014

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Pacific Gas & Electric’s household customers will be hit with an average rate increase of 8% to help the once-bankrupt utility pay for improvements designed to reduce the risks that its outdated equipment will ignite deadly wildfires in its Northern California service territory.The higher prices, approved Thursday, take effect March 1 and are expected to boost the bills of PG&E’s residential customers by an average of $13.44 a month. That may further strain the budgets of people struggling to make ends meet during a recession caused by the pandemic that is causing governments to curtail commerce and corral people at home in an effort to ease the spread of the virus that causes COVID-19.California power regulators approved the increase after two years of wrangling between PG&E and a variety of groups battling to limit how much of the financial burden customers should have to shoulder for the utility’s long-running neglect of a grid that supplies power to about 16 million people in a sprawling area.PG&E’s outdated equipment was blamed for causing a series of wildfires during 2017 and 2018 that killed more than 120 people and destroyed more than 27,000 homes and other buildings. The damage caused PG&E to file for bankruptcy in 2019, opening a legal avenue for the company to negotiate $25.5 billion in settlements with wildfire victims and others.The San Francisco utility emerged from bankruptcy five months ago and is now seeking to upgrade its equipment and adopt other safety measures to avoid facing financial calamity — and a public relations catastrophe — again.Under the agreement approved by California regulators, PG&E can’t use any of its additional revenue to pay for its bankruptcy settlements or enrich an executive team that has been overhauled in recent years.But PG&E does plan to use the extra money to help finance grid improvements, additional tree trimming around power lines and take other steps that the company believes will reduce the chances of sparking more fires. The utility is also making changes aimed at decreasing the scope of deliberate blackouts imposed during dry and windy weather conditions that raise wildfire risks in Northern California.“We want to work to exceed our customers’ expectations when it comes to safely and reliably delivering clean energy, reducing wildfire risk in an ever-changing climate, and building a safe and sustainable energy system,” said Robert Kenney, PG&E’s vice president of regulatory and external affairs.The Utility Reform Network, one of the groups that hammered out the rate increase settlement with PG&E late last year, had hoped California regulators would delay approval because of the financial strain stemming from the pandemic.“Hitting consumers with higher bills right now will only add to their problems,” said Mark Toney, TURN’s executive director.The sticker shock of the forthcoming PG&E rate increases has been magnified by the time it took to negotiate them while the utility was still in bankruptcy. Part of the 2021 increases cover the past year, too.Customers might have been even harder hit if not for the resistance to PG&E’s initial plan. The utility originally sought about $2 billion in additional revenue from customer rate increases from 2020 to 2022, according to regulatory documents. The final settlement approved by regulators will instead give PG&E an additional $1.15 billion instead.

Pacific Gas & Electric’s household customers will be hit with an average rate increase of 8% to help the once-bankrupt utility pay for improvements designed to reduce the risks that its outdated equipment will ignite deadly wildfires in its Northern California service territory.

The higher prices, approved Thursday, take effect March 1 and are expected to boost the bills of PG&E’s residential customers by an average of $13.44 a month. That may further strain the budgets of people struggling to make ends meet during a recession caused by the pandemic that is causing governments to curtail commerce and corral people at home in an effort to ease the spread of the virus that causes COVID-19.

California power regulators approved the increase after two years of wrangling between PG&E and a variety of groups battling to limit how much of the financial burden customers should have to shoulder for the utility’s long-running neglect of a grid that supplies power to about 16 million people in a sprawling area.

PG&E’s outdated equipment was blamed for causing a series of wildfires during 2017 and 2018 that killed more than 120 people and destroyed more than 27,000 homes and other buildings. The damage caused PG&E to file for bankruptcy in 2019, opening a legal avenue for the company to negotiate $25.5 billion in settlements with wildfire victims and others.

The San Francisco utility emerged from bankruptcy five months ago and is now seeking to upgrade its equipment and adopt other safety measures to avoid facing financial calamity — and a public relations catastrophe — again.

Under the agreement approved by California regulators, PG&E can’t use any of its additional revenue to pay for its bankruptcy settlements or enrich an executive team that has been overhauled in recent years.

But PG&E does plan to use the extra money to help finance grid improvements, additional tree trimming around power lines and take other steps that the company believes will reduce the chances of sparking more fires. The utility is also making changes aimed at decreasing the scope of deliberate blackouts imposed during dry and windy weather conditions that raise wildfire risks in Northern California.

“We want to work to exceed our customers’ expectations when it comes to safely and reliably delivering clean energy, reducing wildfire risk in an ever-changing climate, and building a safe and sustainable energy system,” said Robert Kenney, PG&E’s vice president of regulatory and external affairs.

The Utility Reform Network, one of the groups that hammered out the rate increase settlement with PG&E late last year, had hoped California regulators would delay approval because of the financial strain stemming from the pandemic.

“Hitting consumers with higher bills right now will only add to their problems,” said Mark Toney, TURN’s executive director.

The sticker shock of the forthcoming PG&E rate increases has been magnified by the time it took to negotiate them while the utility was still in bankruptcy. Part of the 2021 increases cover the past year, too.

Customers might have been even harder hit if not for the resistance to PG&E’s initial plan. The utility originally sought about $2 billion in additional revenue from customer rate increases from 2020 to 2022, according to regulatory documents. The final settlement approved by regulators will instead give PG&E an additional $1.15 billion instead.

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PG&E rate hike aimed at improvements to ease fire risk – KCRA Sacramento

https://www.kcra.com/article/pgande-rate-hike-aimed-improvements-to-ease-fire-risk/34868014

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Pacific Gas & Electric’s household customers will be hit with an average rate increase of 8% to help the once-bankrupt utility pay for improvements designed to reduce the risks that its outdated equipment will ignite deadly wildfires in its Northern California service territory.The higher prices, approved Thursday, take effect March 1 and are expected to boost the bills of PG&E’s residential customers by an average of $13.44 a month. That may further strain the budgets of people struggling to make ends meet during a recession caused by the pandemic that is causing governments to curtail commerce and corral people at home in an effort to ease the spread of the virus that causes COVID-19.California power regulators approved the increase after two years of wrangling between PG&E and a variety of groups battling to limit how much of the financial burden customers should have to shoulder for the utility’s long-running neglect of a grid that supplies power to about 16 million people in a sprawling area.PG&E’s outdated equipment was blamed for causing a series of wildfires during 2017 and 2018 that killed more than 120 people and destroyed more than 27,000 homes and other buildings. The damage caused PG&E to file for bankruptcy in 2019, opening a legal avenue for the company to negotiate $25.5 billion in settlements with wildfire victims and others.The San Francisco utility emerged from bankruptcy five months ago and is now seeking to upgrade its equipment and adopt other safety measures to avoid facing financial calamity — and a public relations catastrophe — again.Under the agreement approved by California regulators, PG&E can’t use any of its additional revenue to pay for its bankruptcy settlements or enrich an executive team that has been overhauled in recent years.But PG&E does plan to use the extra money to help finance grid improvements, additional tree trimming around power lines and take other steps that the company believes will reduce the chances of sparking more fires. The utility is also making changes aimed at decreasing the scope of deliberate blackouts imposed during dry and windy weather conditions that raise wildfire risks in Northern California.“We want to work to exceed our customers’ expectations when it comes to safely and reliably delivering clean energy, reducing wildfire risk in an ever-changing climate, and building a safe and sustainable energy system,” said Robert Kenney, PG&E’s vice president of regulatory and external affairs.The Utility Reform Network, one of the groups that hammered out the rate increase settlement with PG&E late last year, had hoped California regulators would delay approval because of the financial strain stemming from the pandemic.“Hitting consumers with higher bills right now will only add to their problems,” said Mark Toney, TURN’s executive director.The sticker shock of the forthcoming PG&E rate increases has been magnified by the time it took to negotiate them while the utility was still in bankruptcy. Part of the 2021 increases cover the past year, too.Customers might have been even harder hit if not for the resistance to PG&E’s initial plan. The utility originally sought about $2 billion in additional revenue from customer rate increases from 2020 to 2022, according to regulatory documents. The final settlement approved by regulators will instead give PG&E an additional $1.15 billion instead.

Pacific Gas & Electric’s household customers will be hit with an average rate increase of 8% to help the once-bankrupt utility pay for improvements designed to reduce the risks that its outdated equipment will ignite deadly wildfires in its Northern California service territory.

The higher prices, approved Thursday, take effect March 1 and are expected to boost the bills of PG&E’s residential customers by an average of $13.44 a month. That may further strain the budgets of people struggling to make ends meet during a recession caused by the pandemic that is causing governments to curtail commerce and corral people at home in an effort to ease the spread of the virus that causes COVID-19.

California power regulators approved the increase after two years of wrangling between PG&E and a variety of groups battling to limit how much of the financial burden customers should have to shoulder for the utility’s long-running neglect of a grid that supplies power to about 16 million people in a sprawling area.

PG&E’s outdated equipment was blamed for causing a series of wildfires during 2017 and 2018 that killed more than 120 people and destroyed more than 27,000 homes and other buildings. The damage caused PG&E to file for bankruptcy in 2019, opening a legal avenue for the company to negotiate $25.5 billion in settlements with wildfire victims and others.

The San Francisco utility emerged from bankruptcy five months ago and is now seeking to upgrade its equipment and adopt other safety measures to avoid facing financial calamity — and a public relations catastrophe — again.

Under the agreement approved by California regulators, PG&E can’t use any of its additional revenue to pay for its bankruptcy settlements or enrich an executive team that has been overhauled in recent years.

But PG&E does plan to use the extra money to help finance grid improvements, additional tree trimming around power lines and take other steps that the company believes will reduce the chances of sparking more fires. The utility is also making changes aimed at decreasing the scope of deliberate blackouts imposed during dry and windy weather conditions that raise wildfire risks in Northern California.

“We want to work to exceed our customers’ expectations when it comes to safely and reliably delivering clean energy, reducing wildfire risk in an ever-changing climate, and building a safe and sustainable energy system,” said Robert Kenney, PG&E’s vice president of regulatory and external affairs.

The Utility Reform Network, one of the groups that hammered out the rate increase settlement with PG&E late last year, had hoped California regulators would delay approval because of the financial strain stemming from the pandemic.

“Hitting consumers with higher bills right now will only add to their problems,” said Mark Toney, TURN’s executive director.

The sticker shock of the forthcoming PG&E rate increases has been magnified by the time it took to negotiate them while the utility was still in bankruptcy. Part of the 2021 increases cover the past year, too.

Customers might have been even harder hit if not for the resistance to PG&E’s initial plan. The utility originally sought about $2 billion in additional revenue from customer rate increases from 2020 to 2022, according to regulatory documents. The final settlement approved by regulators will instead give PG&E an additional $1.15 billion instead.

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PG&E rate hike aimed at improvements to ease fire risk – KCRA Sacramento

https://www.kcra.com/article/pgande-rate-hike-aimed-improvements-to-ease-fire-risk/34868014

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Pacific Gas & Electric’s household customers will be hit with an average rate increase of 8% to help the once-bankrupt utility pay for improvements designed to reduce the risks that its outdated equipment will ignite deadly wildfires in its Northern California service territory.The higher prices, approved Thursday, take effect March 1 and are expected to boost the bills of PG&E’s residential customers by an average of $13.44 a month. That may further strain the budgets of people struggling to make ends meet during a recession caused by the pandemic that is causing governments to curtail commerce and corral people at home in an effort to ease the spread of the virus that causes COVID-19.California power regulators approved the increase after two years of wrangling between PG&E and a variety of groups battling to limit how much of the financial burden customers should have to shoulder for the utility’s long-running neglect of a grid that supplies power to about 16 million people in a sprawling area.PG&E’s outdated equipment was blamed for causing a series of wildfires during 2017 and 2018 that killed more than 120 people and destroyed more than 27,000 homes and other buildings. The damage caused PG&E to file for bankruptcy in 2019, opening a legal avenue for the company to negotiate $25.5 billion in settlements with wildfire victims and others.The San Francisco utility emerged from bankruptcy five months ago and is now seeking to upgrade its equipment and adopt other safety measures to avoid facing financial calamity — and a public relations catastrophe — again.Under the agreement approved by California regulators, PG&E can’t use any of its additional revenue to pay for its bankruptcy settlements or enrich an executive team that has been overhauled in recent years.But PG&E does plan to use the extra money to help finance grid improvements, additional tree trimming around power lines and take other steps that the company believes will reduce the chances of sparking more fires. The utility is also making changes aimed at decreasing the scope of deliberate blackouts imposed during dry and windy weather conditions that raise wildfire risks in Northern California.“We want to work to exceed our customers’ expectations when it comes to safely and reliably delivering clean energy, reducing wildfire risk in an ever-changing climate, and building a safe and sustainable energy system,” said Robert Kenney, PG&E’s vice president of regulatory and external affairs.The Utility Reform Network, one of the groups that hammered out the rate increase settlement with PG&E late last year, had hoped California regulators would delay approval because of the financial strain stemming from the pandemic.“Hitting consumers with higher bills right now will only add to their problems,” said Mark Toney, TURN’s executive director.The sticker shock of the forthcoming PG&E rate increases has been magnified by the time it took to negotiate them while the utility was still in bankruptcy. Part of the 2021 increases cover the past year, too.Customers might have been even harder hit if not for the resistance to PG&E’s initial plan. The utility originally sought about $2 billion in additional revenue from customer rate increases from 2020 to 2022, according to regulatory documents. The final settlement approved by regulators will instead give PG&E an additional $1.15 billion instead.

Pacific Gas & Electric’s household customers will be hit with an average rate increase of 8% to help the once-bankrupt utility pay for improvements designed to reduce the risks that its outdated equipment will ignite deadly wildfires in its Northern California service territory.

The higher prices, approved Thursday, take effect March 1 and are expected to boost the bills of PG&E’s residential customers by an average of $13.44 a month. That may further strain the budgets of people struggling to make ends meet during a recession caused by the pandemic that is causing governments to curtail commerce and corral people at home in an effort to ease the spread of the virus that causes COVID-19.

California power regulators approved the increase after two years of wrangling between PG&E and a variety of groups battling to limit how much of the financial burden customers should have to shoulder for the utility’s long-running neglect of a grid that supplies power to about 16 million people in a sprawling area.

PG&E’s outdated equipment was blamed for causing a series of wildfires during 2017 and 2018 that killed more than 120 people and destroyed more than 27,000 homes and other buildings. The damage caused PG&E to file for bankruptcy in 2019, opening a legal avenue for the company to negotiate $25.5 billion in settlements with wildfire victims and others.

The San Francisco utility emerged from bankruptcy five months ago and is now seeking to upgrade its equipment and adopt other safety measures to avoid facing financial calamity — and a public relations catastrophe — again.

Under the agreement approved by California regulators, PG&E can’t use any of its additional revenue to pay for its bankruptcy settlements or enrich an executive team that has been overhauled in recent years.

But PG&E does plan to use the extra money to help finance grid improvements, additional tree trimming around power lines and take other steps that the company believes will reduce the chances of sparking more fires. The utility is also making changes aimed at decreasing the scope of deliberate blackouts imposed during dry and windy weather conditions that raise wildfire risks in Northern California.

“We want to work to exceed our customers’ expectations when it comes to safely and reliably delivering clean energy, reducing wildfire risk in an ever-changing climate, and building a safe and sustainable energy system,” said Robert Kenney, PG&E’s vice president of regulatory and external affairs.

The Utility Reform Network, one of the groups that hammered out the rate increase settlement with PG&E late last year, had hoped California regulators would delay approval because of the financial strain stemming from the pandemic.

“Hitting consumers with higher bills right now will only add to their problems,” said Mark Toney, TURN’s executive director.

The sticker shock of the forthcoming PG&E rate increases has been magnified by the time it took to negotiate them while the utility was still in bankruptcy. Part of the 2021 increases cover the past year, too.

Customers might have been even harder hit if not for the resistance to PG&E’s initial plan. The utility originally sought about $2 billion in additional revenue from customer rate increases from 2020 to 2022, according to regulatory documents. The final settlement approved by regulators will instead give PG&E an additional $1.15 billion instead.

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