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Published: Dec 30, 2021 10 min read
Money; Getty Images

Mortgage rates are trending higher today. The average rate on a 30-year fixed-rate mortgage is up 0.015 percentage points from yesterday to 3.646%.

Nevertheless, rates remain very low historically speaking. Borrowers with strong credit can still find attractive rates and low monthly payments on a new mortgage or when refinancing an existing loan.

  • The latest rate on a 30-year fixed-rate mortgage is 3.646%.⇑
  • The latest rate on a 15-year fixed-rate mortgage is 2.58%.
  • The latest rate on a 5/1 ARM is 3.334%.
  • The latest rate on a 7/1 ARM is 3.308%.
  • The latest rate on a 10/1 ARM is 3.334%. ⇔

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.

Today's 30-year fixed-rate mortgage rates

  • The 30-year rate is 3.646%.
  • That's a one-day increase of 0.015 percentage points.

The 30-year fixed-rate mortgage is the most popular home loan in America. Borrowers like the long payback time because it means the monthly payments are relatively low. The fixed rate means monthly payments will never change, which is helpful for planning and a hedge against inflation. The downsides of a 30-year loan are that the interest rate tends to be higher than on a shorter-term loan. This means you'll pay more for a 30-year loan over time.

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