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Published: Jan 11, 2022 10 min read
Money; Getty Images

The average rate for a 30-year fixed-rate mortgage is up to 3.942% today, increasing 0.096 percentage points from yesterday. The rate for a 30-year refinance is also higher, increasing to 4.081%.

Even as the 30-year rates for both purchase and refinance loans hover around the 4% mark, well-qualified borrowers should still be able to lock in attractive rates and monthly payments.

  • The latest rate on a 30-year fixed-rate mortgage is 3.942%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.905%. ⇑
  • The latest rate on a 5/1 ARM is 2.442%. ⇑
  • The latest rate on a 7/1 ARM is 3.788% ⇑
  • The latest rate on a 10/1 ARM is 4.033%. ⇑

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 3.942%.
  • That's a one-day increase of 0.096 percentage points.
  • That's a one-month increase of 0.316 percentage points.

Most borrowers opt for a 30-year fixed-rate mortgage because of its predictable interest rate and monthly payments. The long payback time is also attractive since it makes the monthly payments relatively low. The downside is that you'll pay more interest over time compared to a shorter-term loan because the interest rate will be higher.

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