Today’s average interest rate on a 30-year purchase mortgage is 6.406%, according to Zillow data provided to U.S. News. That’s essentially unchanged compared with Friday, when rates were 6.399%. For refinancing mortgages, today’s 30-year rate is 6.591%, and the current 15-year rate is 5.601%.
Interest rates on home loans have risen since the beginning of the U.S. war in Iran. The Middle East conflict has put upward pressure on oil prices, which can make other items more expensive to manufacture and transport. The March consumer price index report released Friday found that inflation rose 3.3% year over year, which is the fastest pace since April 2024.
Put simply, higher oil prices mean higher inflation – and higher inflation means higher interest rates.
Most experts expect mortgage rates to stay relatively elevated over the next few years, stuck above 6% for the 30-year fixed term. Although there’s always the chance that something unexpected could happen in the U.S. economy that could send rates tumbling lower, it’s unlikely that rates will fall below 3% or even 4% in the foreseeable future.
View today’s mortgage rates for a wide variety of products and find the best rates for your needs. Save thousands of dollars over the life of your loan.
Current Mortgage Purchase Rates
Here are today’s interest rates for conforming purchase mortgages by loan term:
And here are the current government-backed and nonconforming mortgage rates by loan type:
Current Mortgage Refinance Rates
Here are today’s mortgage refinance rates:
Mortgage refinance rates tend to follow the same trends as mortgage purchase rates, although interest rates on a mortgage refinance are often a few basis points higher than on purchase mortgages.
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Mortgage Rate Trends in 2026 So Far
Freddie Mac collects weekly mortgage rate data, which can help provide context for mortgage borrowers on how and why mortgage rates change over time. Since the mortgage giant began collecting data in 1971, the median mortgage rate is 7.24%.
The 30-year fixed rate fell to a historic low of 2.65% in January 2021, driving up demand for purchase and refinance mortgages. Since then, mortgage rates rose to nearly 8% in October 2023 before coming down to around 6.5% currently. Still, that’s nothing compared with the record high of 18.63% recorded in 1981.
You can use the interactive mortgage rates graph below to see how 30-year fixed interest rates have changed so far in 2026, per Freddie Mac data.
Mortgage Monthly Payment Calculator
Your mortgage interest rate is just one aspect of your monthly housing payment. You’ll need to carefully consider how your home’s purchase price will impact your budget so you don’t buy more house than you can comfortably afford.
The mortgage term – or the length of your loan – will also significantly influence your monthly payments. Most borrowers opt for a 30-year fixed mortgage, which can keep monthly payments affordable because they are spread over a long repayment term. But if you can afford the higher monthly payments of a 15-year mortgage, it can save you tens of thousands of dollars in interest payments over time.
You’ll also need to consider property taxes, home insurance, homeowners association fees and private mortgage insurance, if applicable. You can use the calculator below to run the numbers for your financial situation.
An initial payment made when the home is bought.
The amount of time you have to repay the mortgage.
The APR (annual percentage rate) you pay to the lender, which can be found in your loan agreement. The default displayed represents yesterdays national average APR for 30-year fixed mortgages.
Payment Details
Monthly Payment Breakdown
How to Shop for a Mortgage
The mortgage rates we display on this page are national averages offered by lenders as provided to U.S. News by Zillow, not necessarily the exact rate you’ll receive. Mortgage rates fluctuate throughout the day, and some lenders may be able to offer more favorable pricing for your situation than others.
“With spring homebuying season in full swing, aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes,” says Sam Khater, chief economist at Freddie Mac, in a statement.
Here are a few tips to help you shop for the lowest mortgage rate possible for your financial situation:
- Get your finances in order. Collect the documents you’ll need to apply for a mortgage using this handy checklist. You should also check your credit score and get a copy of your credit report to see where you stand.
- Apply through three to five lenders. Be sure to consider different loan types (such as FHA versus conventional) as well as different types of lenders (like online lenders versus credit unions). Keep your rate shopping to a two-week window to minimize the negative impact to your credit score.
- Compare loan estimates. This document will outline the loan’s costs, including origination charges, lender credits, discount points, as well as the loan’s interest rate and annual percentage rate, or APR. The APR includes the interest rate as well as any fees, making it a holistic way to compare the cost of multiple loan offers.
Check out this sample loan estimate from the Consumer Financial Protection Bureau to get a better idea of what to expect when comparing loan offers.
