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Published: Oct 09, 2021 11 min read
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The average rate for a 30-year fixed-rate mortgage ended the week at 3.444%, 0.072 percentage points higher than at the start of the week. Both the 15-year fixed-rate loan and the 5/1 adjustable-rate mortgage saw higher rates at the end of the week as well. Rates for a refinance also increased, with the rate for a 30-year refi ending the week at 3.61%.

Even though interest rates edged up this week, they remain attractively low. Borrowers with strong credit planning a home purchase or thinking about refinancing their mortgage can lock in very favorable rates and comfortable monthly payments.

  • The latest rate on a 30-year fixed-rate mortgage is 3.444%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.508%.
  • The latest rate on a 5/1 jumbo ARM is 2.365%.
  • The latest rate on a 7/1 conforming ARM is 2.891%.
  • The latest rate on a 10/1 conforming ARM is 3.713%.

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 3.444%.
  • That's a one-day increase of 0.02 percentage points. ⇑
  • That's a one-month increase of 0.19 percentage points. ⇑

Fixed-rate mortgages are the most sought out type of home loan thanks to unchanging interest rates and steady monthly payments. Of the available term lengths, the 30-year loan is the go-to option for most buyers because its long payback time results in relatively low monthly payments. Compared to shorter-term loans the interest rate will be higher, so you'll actually spend more money 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.