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Published: Jan 20, 2022 10 min read
Money; Getty Images

Mortgage rates continued climbing today. The 30-year fixed-rate mortgage is averaging 4.05%, up 0.17 percentage points from yesterday. Rates for other loan types are also starting the day higher, with the 30-year refinance rate averaging 4.153%, up 0.007 percentage points.

Although rates are moving higher, well-qualified borrowers can still lock in competitive interest rates and affordable monthly payments for either a home purchase or a mortgage refinance.

  • The latest rate on a 30-year fixed-rate mortgage is 4.05%.
  • The latest rate on a 15-year fixed-rate mortgage is 3.074%. ⇑
  • The latest rate on a 5/1 ARM is 2.575%. ⇑
  • The latest rate on a 7/1 ARM is 3.868% ⇑
  • The latest rate on a 10/1 ARM is 4.153%. ⇑

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 4.05%.
  • That's a one-day increase of 0.017 percentage points.
  • That's a one-month increase of 0.434 percentage points.

The long payback time, steady interest rate and affordable monthly payments make the 30-year mortgage the most popular option. The trade-off is that the interest rate will be higher compared to a shorter-term loan, so this is a more expensive option over time.

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