Today's Mortgage Rates: All Loan Types
Compare current daily and weekly mortgage rates across all major loan types. Powered by Optimal Blue and Freddie Mac data via the Federal Reserve (FRED).
Today's Daily Mortgage Rates
Updated every business day from the Optimal Blue Mortgage Market Indices (OBMMI) via FRED.
| Loan Type | Rate | Change |
|---|---|---|
|
30-Year Fixed
Conventional conforming
|
6.23% | 6.23% ▼-0.02 |
|
15-Year Fixed
Conventional conforming
|
5.54% | 5.54% ▼-0.06 |
|
5/1 ARM
Adjustable-rate mortgage
|
6.12% | 6.12% ▲ |
|
Home Equity Loan
Fixed-rate second mortgage
|
6.98% | 6.98% ▼-0.02 |
|
HELOC
Home equity line of credit
|
7.25% | 7.25% — |
| Government & Specialty Loans | ||
|
30-Year FHA
Federal Housing Administration
|
6.06% | 6.06% ▲+0.03 |
|
30-Year VA
Veterans Affairs
|
5.83% | 5.83% ▼-0.03 |
|
30-Year Jumbo
Non-conforming > $766,550
|
6.53% | 6.53% ▲+0.05 |
Weekly Mortgage Rates (Freddie Mac)
From the Freddie Mac Primary Mortgage Market Survey (PMMS), updated every Thursday.
| Loan Type | Rate | Description |
|---|---|---|
|
30-Year Fixed Mortgage
Freddie Mac PMMS
|
6.30% | National average for conforming 30-year fixed purchase mortgages |
|
15-Year Fixed
Freddie Mac PMMS
|
5.65% | National average for 15-year fixed rate, popular for refinancing |
|
5/1 ARM
Adjustable-rate mortgage
|
6.12% | Fixed for 5 years, then adjusts annually based on market index |
|
Home Equity Loan
Calculated: 30yr + spread
|
7.05% | Estimated rate based on 30-year fixed plus typical home equity spread |
|
HELOC
Calculated: Prime + margin
|
7.25% | Variable rate based on the Prime Rate plus typical lender margin |
Daily vs. Weekly Rate Comparison
See how today's daily rates from Optimal Blue compare to the latest weekly survey from Freddie Mac. Daily rates reflect real-time market conditions, while weekly rates show the broader trend.
| Type | Weekly | Daily | Diff |
|---|---|---|---|
| 30-Year Fixed | 6.30% | 6.23% | -0.07 |
| 15-Year Fixed | 5.65% | 5.54% | -0.12 |
| 5/1 ARM | 6.12% | 6.12% | 0.00 |
| Home Equity | 7.05% | 6.98% | -0.07 |
| HELOC | 7.25% | 7.25% | 0.00 |
| As of | Apr 16 | Apr 16 |
Understanding Each Mortgage Rate Type
Not all mortgage rates are the same. Here's what each loan type means for your monthly payment and total cost.
30-Year Fixed Rate
The most popular mortgage in America. Your rate and monthly payment stay the same for the entire 30-year term, providing predictability and stability. Best for buyers planning to stay long-term.
15-Year Fixed Rate
A shorter loan term with lower interest rates but higher monthly payments. You'll pay significantly less total interest over the life of the loan — ideal for refinancing or buyers with higher income.
30-Year FHA Loan
Government-insured loans through the Federal Housing Administration, designed for first-time buyers and borrowers with lower credit scores. Down payments can be as low as 3.5% with a credit score of 580+.
30-Year VA Loan
Exclusive to eligible veterans, active-duty military, and surviving spouses. VA loans offer competitive rates with zero down payment required and no private mortgage insurance (PMI).
30-Year Jumbo Loan
For loan amounts exceeding the conforming limit ($766,550 in most areas, higher in high-cost markets). Jumbo loans typically require larger down payments and higher credit scores but finance luxury and high-cost properties.
5/1 Adjustable-Rate (ARM)
Features a fixed rate for the first 5 years, then adjusts annually based on market conditions. ARMs typically start with lower rates than fixed mortgages, making them attractive for buyers who plan to sell or refinance within 5-7 years.
Home Equity Loan
A second mortgage with a fixed rate, allowing you to borrow against your home's equity as a lump sum. Typically used for major expenses like home improvements, debt consolidation, or education costs.
HELOC (Home Equity Line of Credit)
A revolving line of credit secured by your home equity with a variable rate tied to the Prime Rate. Draw funds as needed during the draw period, paying interest only on what you use — ideal for ongoing projects or emergency reserves.
Current Mortgage Rate Trends
Mortgage rates are influenced by a complex interplay of economic factors including Federal Reserve monetary policy, inflation data, employment reports, and global economic conditions. The rates displayed on this page come from two authoritative sources: the Optimal Blue Mortgage Market Indices (OBMMI) for daily rates, and the Freddie Mac Primary Mortgage Market Survey (PMMS) for weekly averages — both accessed through the Federal Reserve Economic Data (FRED) system.
Daily vs. Weekly Rates: What's the Difference?
Daily rates from Optimal Blue reflect real-time lending activity from a broad cross-section of actual mortgage locks nationwide. These rates update every business day, giving you the most current snapshot of where the market stands right now. Weekly rates from Freddie Mac, published every Thursday, represent a broader survey of lender offerings and are widely cited by media and industry analysts. Both sources are valuable: daily rates for timing your lock decision, weekly rates for tracking broader trends.
How to Get the Best Mortgage Rate
The rates shown on this page are national averages. Your actual rate will depend on several personal factors: your credit score (aim for 740+ for the best rates), down payment amount (20% or more avoids PMI on conventional loans), debt-to-income ratio, loan amount, property type, and the lender you choose. Shopping multiple lenders can save you thousands over the life of your loan — research shows that comparing at least three to five lenders can result in meaningful savings.
When Should You Lock Your Rate?
Rate lock timing depends on your closing timeline and risk tolerance. If you're closing within 30-60 days and are comfortable with today's rate, locking removes the risk of rates increasing before your closing date. Many lenders offer float-down options that allow you to benefit if rates drop after you lock. For the latest guidance on whether to lock or float, read our daily mortgage rate analysis, published every market day by 10:00 AM ET.
Frequently Asked Questions
The current daily 30-year fixed mortgage rate is 6.23%, based on the Optimal Blue Mortgage Market Index. The weekly average from Freddie Mac is 6.30%. Your actual rate will depend on your credit score, down payment, loan amount, and chosen lender. Rates are updated every business day.
A "good" rate is one at or below the current national average for your loan type. Today, rates below 6.23% for a 30-year fixed or below 5.54% for a 15-year fixed are considered competitive. Borrowers with excellent credit (740+), 20%+ down payment, and strong documentation typically qualify for the best available rates.
Daily rates come from the Optimal Blue OBMMI index, which tracks real-time mortgage locks from thousands of lenders across the country. These update every business day. Weekly rates come from Freddie Mac's PMMS survey, published every Thursday, and represent a broader industry average. Daily rates are better for timing your rate lock, while weekly rates help you understand longer-term trends.
Mortgage rates can change multiple times per day based on bond market movements. Lenders typically set rates each morning and may reprice mid-day if markets move significantly. The Optimal Blue index updates daily on business days, Freddie Mac publishes its weekly survey every Thursday, and Mortgage Daily provides daily analysis based on real-time market data to help you track movements between surveys.
Fixed-rate mortgages offer payment predictability — your rate never changes. They're ideal if you plan to stay in the home long-term. Adjustable-rate mortgages (ARMs) start with a lower rate for an initial period (e.g., 5 years for a 5/1 ARM), then adjust based on market conditions. ARMs can save money if you plan to move or refinance within the initial fixed period, but carry the risk of higher payments later.
FHA loans are government-insured mortgages designed for borrowers with lower credit scores or smaller down payments. You can qualify with a credit score as low as 580 with 3.5% down, or 500-579 with 10% down. Today's 30-year FHA rate is 6.06%. FHA loans require mortgage insurance premiums (MIP), but offer more flexible qualification requirements than conventional loans.
If you're closing within 30-60 days and today's rate fits your budget, locking removes the risk of rate increases. Many lenders offer float-down options that let you benefit if rates drop after locking. Read our daily analysis for current market guidance on locking vs. floating.
A jumbo mortgage exceeds the conforming loan limit set by the FHFA — currently $766,550 in most areas (higher in designated high-cost markets). Today's 30-year jumbo rate is 6.53%. Jumbo loans typically require higher credit scores (700+), larger down payments (10-20%+), and more extensive income documentation, but they allow you to finance more expensive properties.
