Compare personalized mortgage rates from top lenders. Save thousands over the life of your loan.
Rates shown as of Feb 27, 2026. Actual rates may vary. Get your personalized quote →
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Today's average mortgage rates across all major loan types
| Loan Type | Interest Rate | APR | Monthly Payment* | Weekly Change | |
|---|---|---|---|---|---|
| 30-Year Fixed Most popular |
6.04% | 6.12% | $1,693 | ↓ 0.03% | Get Rate |
| 20-Year Fixed Faster payoff |
5.82% | 5.91% | $1,971 | ↓ 0.02% | Get Rate |
| 15-Year Fixed Lowest total cost |
5.42% | 5.55% | $2,275 | ↓ 0.02% | Get Rate |
| FHA 30-Year Low down payment |
5.25% | 5.78% | $1,548 | ↓ 0.05% | Get Rate |
| VA 30-Year For veterans |
5.00% | 5.15% | $1,503 | ↓ 0.04% | Get Rate |
| Jumbo 30-Year High-value homes |
5.88% | 5.97% | $3,330 | ↑ 0.01% | Get Rate |
| 5/1 ARM Adjustable rate |
5.65% | 6.85% | $1,622 | ↓ 0.06% | Get Rate |
*Monthly payments based on a $280,000 loan amount ($350,000 home with 20% down). Taxes, insurance and fees not included. Jumbo based on $560,000 loan.
Historical 30-year fixed mortgage rate movement over the past 12 months
30-year fixed rates have declined 0.45% since their October 2025 peak, with experts expecting continued gradual easing throughout 2026.
Current rates represent the lowest levels in over 3 years, creating a significant window for buyers who have been waiting on the sidelines.
Homeowners with rates above 7% could save $200-400/month by refinancing at current levels. Check your savings →
Follow these steps to secure the lowest possible mortgage rate
Review your credit report and score. Scores above 740 typically unlock the best rates. Pay down balances and dispute errors first.
Get quotes from at least 3-5 lenders. Rates can vary by 0.5% or more between lenders — that's thousands in savings.
A pre-approval letter shows sellers you're serious. It also locks in your rate for 30-90 days while you shop for a home.
Once you've found the right rate, lock it in. Rates change daily, and a rate lock protects you from market volatility.
Takes only 3 minutes • No impact on credit score
Expert analysis, rate forecasts, and homebuying guides
Leading economists are predicting rates could drop below 5.5% by Q4 2026. Here's what's driving the movement and how to position yourself.
Read Analysis →From down payment assistance to closing cost strategies — everything you need to navigate your first home purchase.
Read Guide →Rates are at 3-year lows. Use our framework to figure out if refinancing makes financial sense for your situation.
Read Article →Your mortgage rate is determined by several factors: your credit score, down payment amount, loan amount, loan type, property type, and current market conditions. The Federal Reserve's monetary policy, inflation data, and bond market movements also play a role in overall rate levels.
Mortgage rates change daily and sometimes multiple times per day. They're influenced by the 10-year Treasury yield, economic reports (like employment data and inflation), and Federal Reserve policy announcements. That's why it's important to check rates regularly and lock your rate when you find a favorable one.
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 origination fees, discount points, and mortgage insurance. APR gives you a more complete picture of the true cost of the loan.
Fixed rates offer predictable payments for the life of the loan — ideal if you plan to stay long-term. Adjustable-rate mortgages (ARMs) start with a lower rate that adjusts after an initial period. ARMs can be smart if you plan to sell or refinance within 5-7 years, but carry the risk of higher payments later.
Even a 0.25% rate reduction on a $300,000 loan saves approximately $50/month or $18,000 over a 30-year term. A 0.5% reduction could save over $100/month. That's why comparing rates from multiple lenders is one of the most impactful financial decisions you can make.