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Published: Oct 14, 2021 11 min read
Money; Getty Images

The 30-year fixed-rate mortgage is averaging 3.489% today, down 0.034 percentage points from yesterday. The average rate for a 30-year refinance loan moved lower as well, settling at 3.644%. Rates on most other fixed-rate loans are mostly lower or flat today, with the exception of the 30-year jumbo loan rate, which is up. Adjustable-rate mortgages saw rate increases in all loan terms.

Today's 30-year mortgage rate decline is good news for well-qualified borrowers who are planning on buying a house or refinancing their current mortgage. Lower rates mean they can lock in more favorable monthly payments.

  • The latest rate on a 30-year fixed-rate mortgage is 3.489%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.543%.
  • The latest rate on a 5/1 jumbo ARM is 2.443%.
  • The latest rate on a 7/1 conforming ARM is 3.477%.
  • The latest rate on a 10/1 conforming ARM is 3.864%.

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.

Current mortgage rates: 30-year fixed-rate mortgage rates

  • The 30-year rate is 3.489%.
  • That's a one-day decrease of 0.034 percentage points. ⇓
  • That's a one-month increase of 0.275 percentage points. ⇑

Fixed-rate mortgages are the most common type of home loan because the interest rate and monthly payments won't change for as long as you keep the loan. The 30-year mortgage is the most popular of all because the long payback time leads to lower monthly payments. Compared to shorter-term loans, however, the interest rate will be higher, which means the 30-year loan will eventually be more expensive.

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