Today's Mortgage Rates

Mortgage rates week by week

Here is the recent weekly history from Freddie Mac's survey.

Trends describe past movement only and are not a forecast. Rates track the 10-year Treasury yield, inflation data, and Federal Reserve policy, none of which can be reliably predicted.

Rate context

Frequently asked questions

What are today's mortgage rates?

As of August 13, 2026, the average 30-year fixed mortgage rate is 6.67%, the 15-year fixed rate is 5.96%, and the 5/1 ARM rate is 6.31%. These are national averages from Freddie Mac's Primary Mortgage Market Survey for well-qualified borrowers with 740+ FICO scores and 20% down payments. Your actual rate will depend on your credit profile, down payment, loan type, and lender.

How often do mortgage rates change?

Mortgage rates change daily, sometimes multiple times per day. They're driven by bond market movements, especially the 10-year Treasury yield. Freddie Mac publishes its widely cited PMMS average every Thursday, collecting lender data from Monday through Wednesday. Individual lenders adjust their rate sheets each morning and sometimes mid-day based on market conditions.

What affects mortgage rates?

Mortgage rates are influenced by the 10-year Treasury yield (the primary driver), Federal Reserve monetary policy, inflation expectations, the overall economy, and global demand for U.S. bonds. Your individual rate is also affected by your credit score, down payment, loan amount, property type, and whether the property is a primary residence. Rates can vary by 0.5% to 1%+ between borrowers based on these factors.

What's the difference between rate and APR?

The interest rate is the cost of borrowing the principal loan amount. The APR (Annual Percentage Rate) is a broader measure that includes the interest rate plus lender fees, discount points, and other costs spread over the loan term. The APR is always higher than the rate and is designed to help you compare the true cost of loans from different lenders. A loan with a lower rate but high fees may have a higher APR than a loan with a slightly higher rate but lower fees.

How do I lock in a mortgage rate?

You can lock a rate after you've applied for a mortgage and received a loan estimate. Rate locks typically last 30 to 60 days and guarantee your rate won't change during that period, even if market rates rise. Most lenders offer locks at no additional cost for 30-45 days. Longer locks (60-90 days) may cost 0.125% to 0.25% extra. If rates drop significantly after you lock, ask your lender about a float-down option — some offer one-time rate reductions.

Should I choose a fixed-rate or adjustable-rate mortgage?

A 30-year fixed-rate mortgage gives you predictable payments for the life of the loan — best if you plan to stay long-term or want certainty. A 15-year fixed gives you a lower rate and saves significantly on total interest, but has higher monthly payments. A 5/1 ARM starts with a lower rate for 5 years, then adjusts annually — it can make sense if you plan to sell or refinance within 5-7 years. In the current rate environment, compare the savings from an ARM's lower initial rate against the risk of higher payments after the fixed period ends.

What is a good mortgage rate?

A good mortgage rate is one at or below the current national average for your loan type and credit tier. Because lenders price the same borrower differently, the gap between the best and the average quote is often 0.25% to 0.5% or more — which is why comparing at least three lenders matters more than chasing a headline 'average' rate. Look at the rate and APR together, since a low rate paired with high fees can cost more over the life of the loan.

Why is my mortgage rate higher than the average?

Published averages like Freddie Mac's PMMS assume a well-qualified borrower — typically a 740+ credit score, a 20% down payment, and a conforming loan on a primary residence. Your rate can be higher if your credit score is lower, your down payment is smaller, your loan is jumbo or non-conforming, the property is an investment or second home, or you're taking cash out. Improving your credit, putting more down, or buying discount points can each lower the rate a lender offers you.

Are mortgage rates going up or down?

Over the past four weeks the average 30-year fixed rate has held roughly steady, and over the past year it has risen (+0.18%). No one can reliably predict where rates go next — they track the 10-year Treasury yield, inflation data, and Federal Reserve policy, all of which move on new economic reports. Instead of trying to time the market, focus on what you control: comparing at least three lenders, since the gap between the average and the best available quote is often 0.25% to 0.5%.

What are today's FHA, VA, and jumbo mortgage rates?

As of August 13, 2026, the average FHA 30-year rate is 6.28%, the VA 30-year rate is 6.29%, and the jumbo 30-year rate is 6.83%. FHA and VA loans are government-backed and often carry rates at or below conventional loans, though FHA loans add mortgage insurance premiums. Jumbo loans exceed the conforming loan limit and are priced on stricter credit and reserve requirements. Compare the full APR, not just the rate, because insurance and fees differ sharply between these programs.

Closing costs by state

Closing costs vary significantly by state — from transfer taxes to title insurance to attorney requirements. See what's typical where you're buying.