Updated March 10, 2026
Today's Best Mortgage Rates
Current mortgage rates for home purchases including conventional, FHA, VA, and jumbo loans.
30-Year Fixed
6.75%
15-Year Fixed
5.99%
5/1 ARM
6.25%
7/1 ARM
6.38%
FHA 30-Year
6.50%
VA 30-Year
6.25%
Jumbo 30-Year
7.05%
Rate Trends
30-Year Fixed
15-Year Fixed
5/1 ARM
7/1 ARM
FHA 30-Year
VA 30-Year
Jumbo 30-Year
Lender Comparison
Mortgage Rates — Lender Comparison
| Lender | Rate ↑ | APR ⇅ | |
|---|---|---|---|
Better.comFeatured | 6.50% | 6.68% | Apply Now |
Navy FederalFeatured | 6.55% | 6.70% | Apply Now |
United Wholesale Mortgage | 6.65% | 6.82% | Apply Now |
Rocket MortgageFeatured | 6.75% | 6.92% | Apply Now |
Bank of America | 6.79% | 6.94% | Apply Now |
LoanDepot | 6.80% | 6.95% | Apply Now |
Wells Fargo | 6.85% | 6.99% | Apply Now |
Chase | 6.88% | 7.02% | Apply Now |
Understanding Mortgage Rates
What Affects Mortgage Rates
Mortgage rates are influenced by the Federal Reserve's monetary policy, inflation expectations, the bond market (particularly the 10-year Treasury yield), housing market conditions, and overall economic health. Your personal rate also depends on your credit score, down payment size, loan amount, property type, and occupancy status.
Fixed vs Adjustable Rates
Fixed-rate mortgages lock in your interest rate for the entire loan term, providing payment predictability. Adjustable-rate mortgages (ARMs) like the 5/1 ARM have a lower initial fixed rate for 5 years, then adjust annually based on a market index. ARMs carry more risk but can save money if you sell or refinance before the adjustment period begins.
APR vs Interest Rate
The interest rate is the cost you pay to borrow money, expressed as a percentage. The APR (Annual Percentage Rate) includes the interest rate plus additional costs like mortgage insurance premiums, closing costs, discount points, and origination fees. The APR gives you a more complete picture of the total cost of the loan and is required to be disclosed by federal law.
Points and Fees Explained
Discount points are upfront fees paid to the lender at closing to reduce your interest rate, with each point costing 1% of the loan amount and typically reducing the rate by 0.25%. Origination fees cover the lender's processing costs. Whether paying points makes sense depends on how long you plan to keep the mortgage — the break-even point is usually 4-7 years.
Historical Context
Mortgage rates have been gradually easing from the highs seen in late 2023-2024. While rates remain above the historic lows of 2020-2021 (when 30-year fixed rates dipped below 3%), the current environment offers improved buying conditions compared to the peak rates above 7.5% seen in late 2023. The Federal Reserve's rate decisions continue to influence mortgage rate movements.
How to Get the Best Mortgage Rate
Improve your credit score above 740 to qualify for the best mortgage rates.
Consider paying points upfront to lower your rate if you plan to stay long-term.
Get quotes from at least 3-5 lenders — rates can vary by 0.5% or more.
Lock your rate once you find a favorable one, as rates can change daily.
A larger down payment (20%+) eliminates PMI and may get you a better rate.
Get Notified When Mortgage Rates Drop
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Calculate What These Rates Mean for You
Frequently Asked Questions
What is a good mortgage rate in 2026?
As of March 2026, a good 30-year fixed mortgage rate is around 6.50-6.75%. Rates below 6.50% are considered excellent, especially for conventional loans. Your actual rate depends on your credit score, down payment, and the lender you choose.
Should I choose a fixed or adjustable-rate mortgage?
Fixed-rate mortgages offer payment stability for the life of the loan, making them ideal if you plan to stay in the home long-term. Adjustable-rate mortgages (ARMs) start with lower rates but can increase after the initial fixed period. ARMs may save money if you plan to sell or refinance within 5-7 years.
How much does my credit score affect my mortgage rate?
Your credit score significantly impacts your mortgage rate. Borrowers with scores above 740 typically qualify for the lowest rates. Each 20-point drop in credit score can add 0.125-0.25% to your rate, which translates to thousands of dollars in extra interest over the life of the loan.
What is the difference between APR and interest rate?
The interest rate is the cost of borrowing the principal loan amount. APR (Annual Percentage Rate) includes the interest rate plus other costs like mortgage insurance, closing costs, and points, giving you the true cost of the loan. APR is always higher than or equal to the interest rate.
How many mortgage lenders should I compare?
You should compare at least 3-5 mortgage lenders to ensure you get the best rate. Research shows that getting just one additional quote can save borrowers an average of $1,500 over the life of the loan, and getting five quotes can save up to $3,000.
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Rates shown are for informational purposes only and do not constitute a loan offer or financial advice. All rates are subject to change without notice. Last updated: March 10, 2026.