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Published: Sep 01, 2021 10 min read
Money; Getty Images

Mortgage rates keep sliding, with the average rate for a 30-year fixed-rate mortgage easing down to 3.223%. Rates for almost all other loan categories are also lower today with the exception of the 10/1 adjustable-rate mortgage, which actually increased.

Borrowers with a strong credit history who are planning on buying a home or refinancing their current mortgage should be able to take advantage of declining rates and lock in a low monthly payment.

  • The latest rate on a 30-year fixed-rate mortgage is 3.223%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.365%.
  • The latest rate on a 5/1 jumbo ARM is 2.187%.
  • The latest rate on a 7/1 conforming ARM is 3.796%.
  • The latest rate on a 10/1 conforming ARM is 4.282%.

Current mortgage rates: 30-year fixed-rate mortgage rates

  • The 30-year rate is 3.223%.
  • That's a one-day decrease of 0.019 percentage points. ⇓
  • That's a one-month increase of 0.044 percentage points. ⇑

If you opt for a fixed-rate mortgage, the interest rate on your loan will be predictable and your monthly payment will never change. The 30-year loan is favored by most borrowers because its long payback time leads to relatively low and more affordable monthly payments compared to shorter-term loans. However, the interest rate is usually higher, so you'll pay more in interest in the long run, despite the lower payments.

Current mortgage rates: 15-year fixed-rate mortgage rates

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