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Published: May 22, 2021 11 min read
Money; Getty Images

After bumping around through the week, mortgage ended higher. The average rate for a 30-year fixed-rate loan increased from 3.351% on Monday to 3.382% on Friday. Rates for most other loan types were also trending up.

In a housing market that has remained red hot, low mortgage rates are making home purchase loans more affordable for many buyers and helping homeowners save money by refinancing their mortgages.

  • The latest rate on a 30-year fixed-rate mortgage is 3.382%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.485%.
  • The latest rate on a 5/1 jumbo ARM is 3.757%.
  • The latest rate on a 7/1 conforming ARM is 4.365%.
  • The latest rate on a 10/1 conforming ARM is 4.122%.

Current 30-year fixed mortgage rates

  • The 30-year rate is 3.382%.
  • That's a one-day increase of 0.019 percentage points.
  • That's a one-month increase of 0.059 percentage points.

The most popular home loan is a 30-year fixed-rate mortgage. The interest rate and monthly payments won't change for as long as you keep the loan. The payback time is 360 months unless you refinance or sell the home. You could also shorten the length of the loan by making extra payments.

The monthly payments will be lower than on shorter-term loans, since the balance is being stretched out over a longer time period. However, because the interest rate on a 30-year loan tends be higher and you're paying for longer, you'll actually pay more interest with a 30-year loan.

Current 15-year fixed mortgage rates

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