Today’s average rate for a 30-year fixed-rate mortgage ticked up 0.001 percentage points to 4.042%. Meanwhile, most other loan categories moved lower. The rate on a 30-year refinance loan is averaging 5.101%, while the 5/1 adjustable-rate loan moved up to 2.574%.
- The latest rate on a 30-year fixed-rate mortgage is 4.042%. ⇑
- The latest rate on a 15-year fixed-rate mortgage is 3.042%. ⇓
- The latest rate on a 5/1 ARM is 2.574%. ⇑
- The latest rate on a 7/1 ARM is 2.851%. ⇓
- The latest rate on a 10/1 ARM is 2.918%. ⇓
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.
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Today’s 30-year fixed-rate mortgage rates
- The 30-year rate is 4.042%.
- That’s a one-day increase of 0.001 percentage points.
- That’s a one-month increase of 0.326 percentage points.
The steady interest rate, long payback time and relatively low monthly payments of a 30-year fixed-rate mortgage make it the most common choice of home loan. While the payments are more affordable compared to a shorter-term loan, the interest rate will be higher, making it a more expensive option over time.
Average Mortgage Rates
Data based on US mortgage loans closed on Feb 1, 2022
15 YEAR FIXED CONVENTIONAL
- Feb 1: 3.04%
- Last Week: 3.02%
- Change: 0.02%
30 YEAR FIXED CONVENTIONAL
- Feb 1: 4.04%
- Last Week: 4.02%
- Change: 0.02%
7/1 ARM RATE
- Feb 1: 2.85%
- Last Week: 2.83%
- Change: 0.02%
10/1 ARM RATE
- Feb 1: 2.92%
- Last Week: 2.89%
- Change: 0.03%
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View Rates for February 02, 2022
Today’s 15-year fixed-rate mortgage rates
- The 15-year rate is 3.042%.
- That’s a one-day decrease of 0.018 percentage points.
- That’s a one-month …….