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Published: Jan 04, 2022 10 min read
Money; Getty Images

The interest rate on a 30-year fixed-rate mortgage decreased to 3.627% today, down 0.086 percentage points from yesterday. Thirty-year refinance loans are also seeing lower rates, coming in at 3.76%.

Mortgage rates remain low historically speaking. For borrowers with good to excellent credit planning on buying a house or refinancing their home loan, low rates and affordable monthly payments are available.

  • The latest rate on a 30-year fixed-rate mortgage is 3.627%.⇓
  • The latest rate on a 15-year fixed-rate mortgage is 2.558%.
  • The latest rate on a 5/1 ARM is 2.307%.
  • The latest rate on a 7/1 ARM is 3.652%.
  • The latest rate on a 10/1 ARM is 3.616%. ⇑

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 3.627%.
  • That's a one-day decrease of 0.086 percentage points.
  • That's a one-month increase of 0.044 percentage points.

The 30-year fixed-rate mortgage is the most popular type of home loan thanks to its long payback time, which results in lower monthly payments. The fact that the interest rate and monthly payments won't change is also an attractive features of this loan. However, the interest rate will be higher than with a shorter-term loan, so you'll pay more in interest over the long run.

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