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Published: Apr 15, 2022 10 min read

The daily average rate for a 30-year fixed-rate mortgage moved below 6% today after four consecutive days above that threshold. The directions of rates for other loan types, including the 15-year fixed-rate mortgage and the 5/1 adjustable rate mortgage, were mixed. Nevertheless, rates are clearly moving away from the super-low levels of the past two-years.

  • The latest rate on a 30-year fixed-rate mortgage is 5.854%. ⇓
  • The latest rate on a 15-year fixed-rate mortgage is 5.181%. ⇑
  • The latest rate on a 5/1 ARM is 4.158%. ⇓
  • The latest rate on a 7/1 ARM is 4.314%. ⇓
  • The latest rate on a 10/1 ARM is 4.39%. ⇓

Money's daily mortgage rates reflect what a borrower with a 20% down payment and a 700 credit score — roughly the national average score — might pay if he or she applied for a home loan right now. Each day's rates are based on the average rate 8,000 lenders offered to applicants the previous business day. Freddie Mac's weekly rates will generally be lower since they measure rates offered to borrowers with higher credit scores.

Looking for a loan? Check out Money's lists of the best mortgage lenders and best refinance lenders.

Today's 30-year fixed-rate mortgage rates

  • The 30-year rate is 6.5%.
  • That's a one-day decrease of 0.646 percentage points.

Most borrowers opt for a 30-year fixed-rate mortgage. The long payback time means your monthly payment will be relatively low, while the fixed interest rate means those payments won't change. It's not the most economical option in terms of total borrowing costs, however, because you'll be paying a higher interest rate for a longer time compared to a shorter-term loan.

Rates are subject to change. All information provided here is accurate as of the publish date.