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Published: May 02, 2022 11 min read
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Today's average rate on a 30-year fixed-rate mortgage is 6.087%, a decrease of 0.022 percentage points from Friday. Average rates for other types of loans were mostly higher.

  • The latest rate on a 30-year fixed-rate mortgage is 6.087%. ⇓
  • The latest rate on a 15-year fixed-rate mortgage is 4.943%. ⇓
  • The latest rate on a 5/1 ARM is 4.491%. ⇑
  • The latest rate on a 7/1 ARM is 4.648%. ⇑
  • The latest rate on a 10/1 ARM is 4.73%. ⇑

Money's daily mortgage rates are a national average and 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. Your individual rate will vary depending on your location, lender and financial details.

Looking for a loan? Check out Money's lists of the best mortgage lenders and best refinance lenders.

Today's 30-year fixed-rate mortgage rates

  • The 30-year rate is 6.087%.
  • That's a one-day decrease of 0.022 percentage points.
  • That's a one-month increase of 0.637 percentage points.

The 30-year fixed-rate mortgage is the most common home loan in America. The long payback time and predictable interest rate mean your monthly payments will be relatively low and will always remain the same. Compared to a shorter-term loan, however, the 30-year is the more expensive in terms of overall borrowing costs because you'll pay a higher rate for a longer period of time.

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