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Published: Oct 29, 2021 11 min read
Money; Getty Images

Today's average rate for a 30-year fixed-rate mortgage is 3.469%, down 0.011 percentage points from yesterday. It's the fourth straight day the 30-year rate has moved lower. The 30-year refinance rate is also down, sliding to 3.616%.

Mortgage rates are still near historic lows. For well-qualified borrowers planning on a home purchase or a mortgage refinance, competitive rates and comfortable monthly payments can be found.

  • 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 go for the steady interest rate and predictable monthly payments provided by a 30-year fixed-rate mortgage. They are also attracted by its long payback time, which results in lower and more affordable monthly payments. On the other hand, the interest rate is usually higher than the rate on shorter-term loans, so a 30-year loan is actually more expensive over time.

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