
Expect to see higher rates today if you’re looking for a mortgage. The 30-year fixed-rate loan is averaging 4.136%, an increase of 0.07 percentage points from yesterday. The average rate for a 15-year fixed-rate loan is up to 3.125% and the 5/1 adjustable-rate mortgage is up to 2.789%.
Homeowners planning to refinance their current home loan will find the rate for a 30-year refi loan up to 4.21%. Meanwhile, the 15-year fixed-rate loan is averaging 3.193% and the average rate on a 5/1 ARM is at 2.839%, both higher than yesterday as well.
- The latest rate on a 30-year fixed-rate mortgage is 4.136%. ⇑
- The latest rate on a 15-year fixed-rate mortgage is 3.125%. ⇑
- The latest rate on a 5/1 ARM is 2.789%. ⇑
- The latest rate on a 7/1 ARM is 3.068%. ⇑
- The latest rate on a 10/1 ARM is 3.134%. ⇑
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 4.136%.
- That’s a one-day increase of 0.07 percentage points.
- That’s a one-month increase of 0.329 percentage points.
The long payback time, relatively low monthly payments and steady interest rate of a 30-year fixed-rate mortgage make it the most popular home loan in America. Compared to a shorter-term loan, however, the interest rate will be higher so you’ll have a higher total cost with this type of loan.
Average Mortgage Rates
Data based on US mortgage loans closed on Feb 3, 2022
15 YEAR FIXED CONVENTIONAL
- Feb 3: 3.13%
- Last Week: 3.02%
- Change: 0.11%
30 YEAR FIXED CONVENTIONAL
- Feb 3: 4.14%
- Last Week: 4.02%
- Change: 0.12%
7/1 ARM RATE
- Feb 3: 3.07%
- Last Week: 2.83%
- Change: 0.24%
10/1 ARM RATE
- Feb 3: 3.13%
- Last Week: 2.89%
- Change: 0.24%
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