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Published: Oct 28, 2021 10 min read
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Daily mortgage rates continue declining with the rate for a 30-year fixed-rate loan down to 3.48%. Rates for most other loan categories were also lower, with the rate on a 30-year refinance loan sliding to 3.623%.

As rates continue to slide, well-qualified buyers considering applying for a new mortgage or refinancing their current home loan should be able to lock in competitive rates and low monthly payments.

  • The latest rate on a 30-year fixed-rate mortgage is 3.48%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.56%.
  • The latest rate on a 5/1 jumbo ARM is 2.331%.
  • The latest rate on a 7/1 conforming ARM is 3.365%.
  • The latest rate on a 10/1 conforming ARM is 3.619%.

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 3.48%.
  • That's a one-day decrease of 0.052percentage points. ⇓
  • That's a one-month increase of 0.06 percentage points. ⇑

The 30-year fixed-rate mortgage is the most popular type of home loan. Borrowers like the predictable interest rate and steady monthly payments. The long payback time also means the monthly payments will be relatively low. The affordable monthly payments come at a price though. The interest rate is usually higher compared to a shorter-term loan, which means you'll pay more in the long run.

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