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Published: Oct 30, 2021 11 min read
Money; Getty Images

The average mortgage rate for a 30-year fixed-rate loan finished the week at 3.469%, down 0.122 percentage points from the beginning of the week. The 30-year refinance rates also ended the week lower, settling in at 3.616%.

After nearing 3.6% on Monday — the highest the rate had been since late March —mortgage rates have been moving lower through the week. It's is still a good time for borrowers with strong credit to apply for a new mortgage or refinancing.

  • The latest rate on a 30-year fixed-rate mortgage is 3.469%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.567%.
  • The latest rate on a 5/1 jumbo ARM is 2.315%.
  • The latest rate on a 7/1 conforming ARM is 3.416%.
  • The latest rate on a 10/1 conforming ARM is 3.596%.

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 3.469%.
  • That's a one-day decrease of 0.011 percentage points. ⇓
  • That's a one-month increase of 0.035 percentage points. ⇑

Most borrowers choose a 30-year fixed-rate mortgage because the interest rate and monthly payment won’t change for as long as you have the loan. The long payback time is also attractive because it means the monthly payments will be relatively low. However, the interest rate will be higher than on shorter-term loans, so you’ll pay more for a 30-year loan in the long run.

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