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Originally Published: Sep 21, 2021
Originally Published: Sep 21, 2021 Last Updated: Sep 21, 2021 11 min read
Money; Getty Images

The average rate on a 30-year fixed-rate mortgage is down to 3.244% today. That's a 0.047 percentage point drop from Monday.

Mortgage rates continue to seesaw, with relatively small movements in either direction. Rates are expected to continue this pattern for the foreseeable future, meaning the well-qualified borrowers interested in buying a home or refinancing their current mortgage should be able to find and lock in comfortable payments.

  • The latest rate on a 30-year fixed-rate mortgage is 3.244%.
  • The latest rate on a 15-year fixed-rate mortgage is 2.36%.
  • The latest rate on a 5/1 jumbo ARM is 2.195%.
  • The latest rate on a 7/1 conforming ARM is 3.591%.
  • The latest rate on a 10/1 conforming ARM is 3.623%.

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 3.244%.
  • That's a one-day decrease of 0.047 percentage points. ⇓
  • That's a one-month decrease of 0.053 percentage points. ⇓

Fixed-rate mortgages are the most common type of home loan thanks to predictable interest rates and steady monthly payments. Although you can find fixed-rate loans with a number of different terms, the 30-year loan is the most popular of all because its long payback time means your monthly payments will be lower than on a shorter-term loan. The interest rate, on the other hand, tends to be higher, so you'll actually be paying more over the full 30-year term.

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