Today's Mortgage Rates
View current rates for purchase and refinance loans. Get your personalized rate quote in minutes.
Rate Trend Snapshot
See how rates have changed over time (30-year fixed conventional)
Note: Mortgage rates change daily based on market conditions, economic indicators, and Federal Reserve policy. Lock your rate to protect against increases during your loan process.
Current Rates by Loan Type
Rate ranges based on excellent credit (740+), 20% down, and primary residence
Conventional Fixed
Traditional fixed-rate mortgages for primary residences with 20%+ down payment
FHA Loans
Government-backed loans with as little as 3.5% down for qualified borrowers
VA Loans
Zero down payment loans for eligible veterans and active military
Jumbo Loans
High-balance loans exceeding conforming loan limits (currently $766,550)
Want to see your exact rate? Get a personalized quote based on your specific situation.
Get My Personalized RateWhat Affects Your Mortgage Rate?
Understanding these factors can help you get the best possible rate
Credit Score
Scores 740+ get the best rates. Each 20-point drop can cost 0.25-0.50% in rate.
Down Payment
20% down avoids PMI and typically gets better rates. Higher down payment = lower risk.
Loan Type
Conforming loans get the best rates. Jumbo, investment, and cash-out refinances are slightly higher.
Loan Term
15-year mortgages are typically 0.5-0.75% lower than 30-year loans.
Loan-to-Value (LTV)
Lower LTV ratios (more equity) qualify for better rates. 80% LTV or below is optimal.
Property Type
Single-family homes get the best rates. Condos and multi-unit properties are slightly higher.
How to Get the Best Rate:
- Improve your credit score: Pay down balances, make payments on time, and correct any errors on your credit report
- Save for a larger down payment: 20% down avoids PMI and typically gets better rates
- Consider a shorter loan term: 15-year mortgages have lower rates than 30-year loans
- Shop for the best rate: Compare rates from multiple lenders, but do so within a 14-day window to minimize credit score impact
- Lock your rate: Once you find a good rate, lock it in to protect against market increases during processing
Understanding Rate Locks
Protect yourself from rate increases during your loan process
What is a rate lock?
A rate lock is a guarantee from your lender that your mortgage rate and points will remain the same for a specified period, typically 30-60 days, regardless of market fluctuations.
When should you lock your rate?
Most borrowers lock their rate once they've found a property (for purchases) or decided to refinance. Consider locking when:
- You're satisfied with the current rate
- Economic indicators suggest rates may rise
- You have a signed purchase contract
- You want certainty for budgeting and planning
Rate lock periods
Longer lock periods may have slightly higher rates to account for lender risk.
Mortgage Rate FAQs
What's the difference between interest rate and APR?
The interest rate is the cost of borrowing the principal loan amount. APR (Annual Percentage Rate) includes the interest rate plus other costs like origination fees, points, and closing costs, expressed as a yearly rate. APR gives you a more complete picture of the loan's total cost.
How often do mortgage rates change?
Mortgage rates can change multiple times per day based on bond market activity, economic data releases, and Federal Reserve policy announcements. We update our rates daily to reflect current market conditions.
Can I negotiate my mortgage rate?
While base rates are set by market conditions, you can sometimes negotiate lender fees and points. Shopping multiple lenders and comparing offers gives you leverage. You can also "buy down" your rate by paying discount points upfront.
What credit score do I need for the best rates?
Scores of 740 or higher typically qualify for the best rates. You can still get approved with lower scores (as low as 580 for FHA loans), but your rate will be higher. Each 20-point drop in credit score can cost 0.25-0.50% in interest rate.
Should I pay points to lower my rate?
It depends on how long you plan to keep the loan. Paying 1 point (1% of loan amount) typically lowers your rate by 0.25%. Calculate your break-even point: divide the cost of points by your monthly savings. If you plan to stay longer than the break-even period, points can save you money.
Are rates different in Georgia, Florida, Texas, and California?
Mortgage rates are primarily driven by national factors, but can vary slightly by state due to local regulations, property taxes, insurance costs, and market competition. Get a personalized quote for your specific state and situation.
Ready to Lock in Your Rate?
Get your personalized rate quote with no obligation. See exactly what rate you qualify for based on your credit, down payment, and loan details.
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