Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.89%0.03
MortgageMortgage Rates

UWM now offering 15-year fixed mortgage rates as low as 1.875%

Record-low interest rate

This story was updated post-publication to include additional information from UWM

Mortgage rates for a 15-year fixed currently sit at approximately 2.5%. However, customers of the nation’s second-biggest lender could soon receive an interest rate below 2%.

United Wholesale Mortgage announced Friday that it is rolling out a new loan program that offers borrowers an interest rate as low as 1.875% for both purchase mortgages and refinances — a record low.

UWM is both the nation’s biggest purchase mortgage lender and the largest wholesale lender, meaning it doesn’t lend directly to borrowers. UWM works directly with mortgage brokers, who can in turn offer low rates to their customers.

“United Wholesale Mortgage is proud to provide some of the best rates, service and technology to borrowers exclusively through independent mortgage brokers while closing loans in 15 days or less,” said Mat Ishbia, president and CEO. “We’re proud to offer great rates for borrowers for 15-year mortgages just like we have been on our 30-year mortgages as well.”

Those eligible for a conventional mortgage are eligible for the rate, according to Ishbia. The minimum FICO score is 640, the company said.

In May, UWM rolled out a new loan program that offered borrowers an interest rate as low as 2.5% for both purchase mortgages and refinances.

Then in June, UWM announced a new VA loan program that offered borrowers mortgage rates as low as 2.25% for both purchases and refinances.

Be sure to check out our follow-up to this piece: Making sense of ultra-low mortgage rates.

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please