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Published: May 13, 2021 12 min read
Money; Getty Images

The average interest rate on a 30-year fixed-rate mortgage jumped up 0.058 percentage points Thursday, settling in at 3.381%. Rates for all other types of loans also saw increases.

After a month of steady declines, rates appear to be back on their way up. Whether this is the much-predicted increase in rates experts have been expecting or another temporary blip remains to be seen. Either way, rates remain at historically low levels and present a great opportunity for borrowers looking to purchase a home or refinance a mortgage to lock in a good rate.

  • The latest rate on a 30-year fixed-rate mortgage is 3.381%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.5%.
  • The latest rate on a 5/1 jumbo ARM is 3.799%.
  • The latest rate on a 7/1 conforming ARM is 4.11%.
  • The latest rate on a 10/1 conforming ARM is 3.964%.

30-year fixed mortgage rates today

  • The 30-year rate is 3.381%.
  • That's a one-day increase of 0.058 percentage points.
  • That's a one-month decrease of 0.010 percentage points.

A 30-year fixed-rate loan is the most popular home loan on the market. Both the interest rate and the monthly payments will remain unchanged for as long as you have the loan. It will be paid off in full after 360 months unless you refinance or sell the home. You can also make extra payments to pay the loan off faster.

The interest rate on a 30-year mortgage will be higher than the rate on a short-term loan like a 15-year, for example. However, because you'll be paying the loan off for a longer time, the monthly payments will be lower. You'll also pay more in total interest with a 30-year because you'll be paying a higher interest rate for a longer time.

15-year fixed mortgage rates today

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