Today's average 30-year fixed mortgage rate is 6.37% (April 17, 2026, per Freddie Mac). Compare rates from 50+ lenders to find the best deal on your purchase or refinance. Soft pull only, no credit impact.
📅 Last updated: April 17, 2026 — National averages per Freddie Mac PMMS. 30-yr rate down from 6.46% last week.
Rates are national averages as of April 17, 2026 per Freddie Mac and change daily. Your rate depends on credit score, down payment, loan type, property type, and lender.
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Sample rates for a well-qualified borrower (720+ credit score, 20% down, primary residence). Rates change daily. Get a personalized quote for accurate pricing.
A fixed-rate mortgage locks your interest rate for the full loan term, so your payment never changes. An ARM starts lower but adjusts periodically after an initial fixed period (e.g., 5/1 ARM: fixed 5 years, adjusts yearly after). ARMs work best if you plan to sell or refinance before adjustment.
Lenders offer the best rates to borrowers with 740+ credit scores, 20%+ down payments, low debt-to-income ratios (under 36%), and stable 2-year employment history. Improving any of these factors before applying can save thousands over the loan term.
Mortgage points (also called discount points) let you pay upfront to lower your interest rate. One point = 1% of the loan amount. Each point typically reduces your rate by 0.25%. Calculate your break-even point: if you'll stay long enough, buying points saves money.
A refinance replaces your existing mortgage with a new one, typically to lower your rate, shorten your term, or access home equity (cash-out refi). Calculate the break-even point: closing costs divided by monthly savings. If you'll stay that long, it likely makes sense.
Not sure if you qualify for a mortgage?
Your debt-to-income ratio is one of the first things lenders check.
As of April 2026, the average 30-year fixed mortgage rate is 6.78%. Rates change daily based on bond market movements, Federal Reserve policy, and economic data. Your personal rate depends on credit score, down payment, loan type, and lender.
Conventional loans: as low as 3% (with PMI) up to 20% (to avoid PMI). FHA loans: 3.5% minimum with a 580+ credit score. VA loans: 0% down for qualifying veterans and active military. USDA loans: 0% down for qualifying rural properties.
Lenders evaluate: credit score (typically 620+ for conventional, 580+ for FHA), debt-to-income ratio (DTI under 43% preferred), stable income and employment history (2+ years same employer preferred), and down payment/assets. Higher credit scores and lower DTI unlock better rates.
A 30-year mortgage has lower monthly payments, freeing up cash flow for investing or other expenses. A 15-year mortgage builds equity faster, has a lower interest rate, and saves tens of thousands in total interest. Choose 15-year if you can comfortably afford the higher payment.
Private Mortgage Insurance (PMI) is required on conventional loans when your down payment is less than 20%. It typically costs 0.5–1.5% of the loan amount annually, added to your monthly payment. Avoid PMI by putting 20% down, or remove it once you reach 20% equity by requesting cancellation from your lender.
Pre-qualification is an informal estimate based on self-reported information. Pre-approval is a formal process requiring documentation and a hard credit pull, so sellers take it seriously. Always get pre-approved before making offers in a competitive market.
Yes. Refinancing makes sense if you can lower your rate by at least 0.5–1%, shorten your term, or access equity (cash-out refi). Calculate your break-even point: divide closing costs (typically 2–5% of loan) by monthly savings to see how long it takes to recoup costs.
Expect to pay 2–5% of the loan amount in closing costs including: origination fee (0.5–1%), appraisal ($300–600), title insurance ($500–1,500), recording fees, and prepaid insurance and taxes. Some lenders offer no-closing-cost mortgages with a slightly higher interest rate.
Expert guides on mortgages, refinancing, and home equity