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Published: Oct 25, 2021 10 min read
Money; Getty Images

Mortgage rates continue to increase. The average rate for a 30-year fixed-rate mortgage moved up to 3.591% today. The last time the average 30-year rate was this high was late March. The rate for a 30-year refinance loan is also higher at 3.703%. Most other loan types are also seeing higher rates today.

Historically speaking, rates remain very low. Well-qualified borrowers can still find competitive rates when buying a home or refinancing a mortgage.

  • The latest rate on a 30-year fixed-rate mortgage is 3.591%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.62%.
  • The latest rate on a 5/1 jumbo ARM is 2.48%.
  • The latest rate on a 7/1 conforming ARM is 2.712%.
  • The latest rate on a 10/1 conforming ARM is 3.938%.

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 3.591%.
  • That's a one-day increase of 0.05 percentage points. ⇑
  • That's a one-month increase of 0.183 percentage points. ⇑

The 30-year fixed-rate mortgage is the most popular type of home loan because its long payback time results in lower and more affordable monthly payments. The fixed rate also means no surprises. The interest rate will be higher than with a shorter-term loan, however, so you'll pay more for a 30-year in the long run.

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