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Published: Apr 16, 2021 12 min read
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Mortgage rates are down for almost every type of loan today. The average rate for a 30-year fixed-rate purchase loan ticked down to 3.375%, while the 30-year refinance rate decreased to 3.701%.

  • The latest rate on a 30-year fixed-rate mortgage is 3.375%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.533%.
  • The latest rate on a 5/1 jumbo ARM is 2.891%.
  • The latest rate on a 7/1 conforming ARM is 4.293%.
  • The latest rate on a 10/1 conforming ARM is 4.275%.

30-year fixed mortgage rates today

  • The 30-year rate is 3.375%.
  • That's a one-day decrease of 0.016 percentage points.
  • That's a one-month decrease of 0.253 percentage points.

The interest rate and monthly payment on a 30-year fixed-rate mortgage won't change over the life of the loan. If you pay the required monthly amount and don't sell or refinance, you'll finish paying the loan in 360 months. If you want to pay the mortgage off faster, you can add to your monthly payment or make periodic lump sum payments toward the loan principal.

You will be charged a higher interest rate on a 30-year loan than you would on a shorter-term loan like a 15-year. The monthly payment, on the other hand, will be lower since you're dividing the balance over a longer term. However, because you're paying a higher rate for a longer time, you'll pay more in total interest unless you make extra mortgage payments applied to the principal.

More than three-quarters of borrowers opt for a 30-year mortgage to take advantage of the lower monthly payments.

15-year fixed mortgage rates today

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