Today's Mortgage Rates
Updated Friday, April 3, 2026
Compare current rates across loan types. Rates shown are national averages — your rate depends on credit, down payment, and lender. Apply to see your personalized rate.
See What I Qualify For30-Yr Fixed
6.30%
National avg.
15-Yr Fixed
5.65%
National avg.
VA Loan
5.60%
Lowest available
Current Rates by Loan Type
Important: Rates shown are national averages for illustrative purposes only and do not constitute an offer to lend. Actual rates depend on your credit profile, loan amount, property, and other factors. Not all borrowers will qualify. Contact a lender for a personalized rate quote.
| Loan Type | Rate | APR | Trend | Week Ago | |
|---|---|---|---|---|---|
30-Year Fixed | 6.30% | 6.42% | Down | 6.38% | Apply |
15-Year Fixed | 5.65% | 5.80% | Down | 5.72% | Apply |
5/1 ARM | 5.90% | 6.85% | Flat | 5.90% | Apply |
VA Loan | 5.60% | 5.78% | Down | 5.68% | Apply |
FHA Loan | 6.00% | 6.85% | Flat | 6.00% | Apply |
Cash-Out Refinance | 6.30% | 6.48% | Up | 6.25% | Apply |
Home Equity Loan | 7.80% | 7.95% | Flat | 7.80% | Apply |
Jumbo Loan (30-Yr) | 6.55% | 6.68% | Down | 6.62% | Apply |
Rates shown are national averages for illustrative purposes and may not reflect rates available to you. Your actual rate will be based on your credit profile, loan amount, down payment, and lender. Rates are subject to change without notice.
Explore Loan Options
What Determines Your Mortgage Rate?
Your rate isn't random — it's based on a combination of your financial profile and market conditions. Here are the key factors:
Credit Score
Higher scores typically qualify for lower rates. A score of 740+ usually gets the best available rate. Even a 20-point improvement can save thousands over the life of a loan.
Down Payment
A larger down payment reduces lender risk and often results in a lower rate. Putting 20%+ down also eliminates PMI on conventional loans.
Loan Type & Term
Shorter terms (15-year vs 30-year) typically offer lower rates. Government-backed loans (VA, FHA) may offer competitive rates with more flexible qualification.
Loan-to-Value Ratio
The ratio of your loan amount to your property value affects your rate. Lower LTV = lower risk = better rate. Equity is your friend.
Market Conditions
The Federal Reserve, inflation, and the broader economy influence mortgage rates. Rates can change daily based on economic data and bond market activity.
Property Type & Use
Primary residences get the best rates. Investment properties, second homes, condos, and multi-unit properties typically carry rate premiums.
How to Get the Best Mortgage Rate
Compare multiple lenders
Even a 0.25% rate difference on a $300,000 loan saves over $15,000 in interest over 30 years. Don't settle for the first offer.
Strengthen your credit before applying
Pay down credit cards, correct errors on your report, and avoid opening new accounts in the months before applying.
Increase your down payment
A larger down payment reduces your loan-to-value ratio, which often qualifies you for a better rate and eliminates PMI.
Consider points and fees
Paying discount points upfront can lower your rate. Compare the total cost — including points, fees, and the rate — not just the rate alone.
Lock your rate at the right time
Once you've found a competitive rate, lock it. Rate locks typically last 30-60 days and protect you from market fluctuations during closing.
Mortgage Rate FAQs
How often do mortgage rates change?
Mortgage rates can change multiple times per day based on market conditions, economic data releases, and Federal Reserve actions. The rates shown on this page are updated regularly to reflect current national averages.
What's the difference between interest rate and APR?
The interest rate is the cost of borrowing the principal loan amount. The APR (Annual Percentage Rate) includes the interest rate plus other costs like lender fees, points, and mortgage insurance — giving you the true total cost of the loan.
How do I get a rate lower than what's shown here?
These are national averages. Your actual rate depends on your credit score, down payment, loan type, and the specific lender. Shopping multiple lenders and comparing offers is the most effective way to get a below-average rate.
Should I wait for rates to drop before buying?
Timing the market is difficult even for professionals. If you can afford the payment at today's rates and find the right home, buying now and refinancing later when rates drop is often a better strategy than waiting indefinitely.
Do VA and FHA loans have lower rates?
Government-backed loans like VA and FHA often offer competitive rates because the government guarantee reduces lender risk. VA loans in particular frequently have the lowest rates available, and neither VA nor FHA requires a minimum rate set by the government.
Ready to See Your Personalized Rate?
National averages are a starting point. Apply in under 2 minutes to see the rate you actually qualify for — no obligation.
See What I Qualify For