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Published: Oct 21, 2021 10 min read

Today's average interest rate on a 30-year fixed-rate mortgage is 3.503%, after ticking down 0.005 percentage points from yesterday. The average rate for a 30-year refinance loan also moved lower to 3.637%.

Although average rates are still above 3.5%, they have been inching lower for two days and are historically low. Borrowers who are well qualified and are considering a new home purchase or a loan refinance should be able to find competitive rates and low monthly payments.

  • The latest rate on a 30-year fixed-rate mortgage is 3.503%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.556%.
  • The latest rate on a 5/1 jumbo ARM is 2.48%.
  • The latest rate on a 7/1 conforming ARM is 3.56%.
  • The latest rate on a 10/1 conforming ARM is 3.987%.

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 3.503%.
  • That's a one-day decrease of 0.005 percentage points. ⇓
  • That's a one-month increase of 0.251 percentage points. ⇑

The 30-year fixed-rate mortgage is the most popular home loan due to predictable and relatively low monthly payments. Because the loan is paid off over a long period of time, the monthly payments are more affordable than on a a shorter-term loan. The interest rate, however, is typically higher so you spend more in the long run.

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