Today's Mortgage Rates

Updated daily · Last updated March 31, 2026

Rates are trending lower this week, down an average of 0.03% from last week

Current Rates

Compare today's mortgage rates across popular loan types. Rates shown are national averages and your actual rate may vary.

30-Year FixedPopular
Rate6.375%
APR6.51%
↓ 0.03%
20-Year Fixed
Rate6.125%
APR6.29%
↑ 0.01%
15-Year FixedPopular
Rate5.625%
APR5.82%
↓ 0.05%
10-Year Fixed
Rate5.375%
APR5.58%
No change
5/1 ARM
Rate5.875%
APR6.12%
↓ 0.02%
7/1 ARM
Rate6.000%
APR6.18%
↑ 0.01%
FHA 30-YearPopular
Rate5.990%
APR6.45%
↓ 0.04%
VA 30-Year
Rate5.875%
APR6.10%
↓ 0.06%
USDA 30-Year
Rate6.125%
APR6.38%
No change
Jumbo 30-Year
Rate6.625%
APR6.78%
↑ 0.02%
Rate decreased
Rate increased
No change

See what rate you qualify for

Your actual rate depends on your credit score, down payment, loan type, and other factors. Get a personalized rate quote in minutes with no impact to your credit score.

How Are Rates Determined?

Mortgage rates are influenced by a complex interplay of economic factors. While the Federal Reserve does not directly set mortgage rates, its monetary policy decisions heavily influence them. When the Fed raises or lowers the federal funds rate, mortgage rates tend to move in a similar direction, though not always by the same amount.

The 10-year Treasury yield is the most closely watched benchmark for mortgage rates. When investors buy more Treasury bonds (driving yields down), mortgage rates typically fall. When investors sell Treasury bonds (driving yields up), mortgage rates tend to rise.

Inflation expectations, employment data, GDP growth, global economic conditions, and housing market dynamics all play a role in determining the rates lenders offer on any given day. This is why rates can fluctuate daily, sometimes by significant amounts.

Rate Terminology

Interest Rate
The percentage charged by the lender on the principal loan balance. This is the base cost of borrowing.
APR (Annual Percentage Rate)
The total cost of the loan expressed as a yearly rate, including interest, points, and other lender fees. APR is always higher than the interest rate.
Points (Discount Points)
Upfront fees paid to the lender at closing in exchange for a lower interest rate. One point equals 1% of the loan amount.
ARM (Adjustable-Rate Mortgage)
A loan with a fixed rate for an initial period (e.g., 5 or 7 years), after which the rate adjusts periodically based on market conditions.

What Affects Your Rate?

Several personal and financial factors determine the specific rate you will be offered. Understanding these can help you position yourself for the best possible terms.

Credit Score

Higher credit scores unlock lower rates. A score above 740 typically qualifies you for the best available rates.

Down Payment

A larger down payment reduces lender risk and can lower your rate. Putting 20% or more down also eliminates PMI.

Loan Type

Government-backed loans (FHA, VA, USDA) often have different rate structures than conventional loans.

Loan Term

Shorter terms like 15-year mortgages typically offer lower rates than 30-year loans, though monthly payments are higher.

Property Type

Single-family homes generally get the best rates. Condos, multi-units, and investment properties may have higher rates.

Location

Rates vary by state and even by county due to local regulations, property taxes, and market conditions.

Disclaimer: The mortgage rates displayed on this page are for informational purposes only and are based on national averages. They do not constitute a loan offer or commitment to lend. Actual rates may vary based on your credit profile, down payment, loan amount, property type, occupancy, and other factors. Rates are subject to change without notice.

APR (Annual Percentage Rate) reflects the total cost of the loan including interest and certain fees. All rates assume a conforming loan amount for a single-family, owner-occupied primary residence with a credit score of 740 or higher and a loan-to-value ratio of 80% unless otherwise noted. Government loan rates (FHA, VA, USDA) include applicable guarantee or insurance fees in the APR calculation.

To receive a personalized rate quote based on your specific situation, please apply online or call us at 1-800-4HOMES.