See today’s mortgage rates on Zillow (2024)

What are today's mortgage rates?

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Mortgage rate trends

Adjust the graph below to see historical mortgage rates tailored to your loan program, credit score, down payment and location.


The table below is updated daily with current mortgage rates for the most common types of home loans. Compare week-over-week changes to mortgage rates and APRs.

Conforming loans


Government loans


Jumbo loans


What is a good mortgage interest rate?

The best mortgage rate for you will depend on your financial situation. A home loan with a shorter term may have a lower interest rate but a higher monthly payment, while a home loan with an adjustable interest rate may have a lower interest rate at first but then change annually after a set period of time. For example, a 7-year ARM (adjustable-rate mortgage) has a set rate for the initial 7 years then adjusts annually for the remaining life of the loan (loan term), while a 30-year fixed-rate mortgage has a rate that stays the same over the loan term.

How to get the best mortgage rate

Mortgage rates change daily and can vary widely depending on a variety of factors, including the borrower's personal situation. The difference in mortgage rates can mean spending tens of thousands of dollars more (or less) in interest over the life of the loan. Here are some tactics to help you find the best mortgage rate for your new home loan:

  • 1

    Shop around for a lender

    Using the lender your real estate agent typically works with doesn't guarantee you'll get the best mortgage rate for your home loan. Ask around for recommendations or use an online tool to find a lender who can provide you with a loan that is best for your situation.

  • 2

    Compare lender fees

    Along with mortgage interest rates, each lender has fees and closing costs that factor into the overall cost of the home loan. When choosing a lender, compare official Loan Estimates from at least three different lenders and specifically pay attention to which have the lowest rate and lowest APR. This will help you feel confident you are getting the best deal.

  • 3

    Increase your down payment

    Did you know that your down payment amount can have an impact on your mortgage rate? That's because mortgage rates are generally tiered, and typically lower rates are available for those with a down payment of 20% or more. If possible, check with your lender to see if increasing your down payment will lower your mortgage interest rate.

  • 4

    Improve your credit score

    Your credit score may affect the mortgage rate that the lender offers you. Generally, the higher your credit score, the lower the interest rate will be on your home loan. Before applying for a mortgage, review your credit score and get it in the best shape possible. Learn more about how to improve your credit score.

  • 5

    Consider different types of home loans

    The 30-year fixed rate mortgage is the most common type of home loan, but there are additional mortgage options that may be more beneficial depending on your situation. For example, if you require a lower interest rate, adjustable-rate mortgages (ARM) offer a variable rate that may be initially lower than a 30-year fixed rate option but adjusts after a set period of time (usually 3, 5, 7 or 10 years). Given that ARM loans are variable, the interest rate could end up being higher than with a 30-year fixed rate mortgage that has a locked-in mortgage rate. A 15-year fixed rate mortgage, on the other hand, may offer a lower interest rate that won’t fluctuate like an ARM loan but requires a higher monthly payment compared to a 30-year fixed rate mortgage. Consider all your options and choose the home loan that is most comfortable for you.

Frequently asked questions about mortgages

Mortgage resources

  • Mortgage calculator

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  • Get pre-qualified

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Related Articles

    See today’s mortgage rates on Zillow (2024)


    What is today's interest rate? ›

    Current mortgage and refinance interest rates
    ProductInterest RateAPR
    30-Year Fixed Rate7.18%7.23%
    20-Year Fixed Rate6.99%7.05%
    15-Year Fixed Rate6.62%6.70%
    10-Year Fixed Rate6.60%6.67%
    5 more rows

    Who has the cheapest mortgage rates right now? ›

    Best USDA mortgage rates
    • Home Point Financial, 4.19%
    • Freedom Mortgage, 4.21%
    • Flagstar Bank, 4.28%
    • Caliber Home Loans, 4.46%
    • U.S. Bank, 4.54%
    • AmeriHome Mortgage Company, 4.61%
    • Pennymac, 4.67%
    • NewRez, 4.68%
    Jul 21, 2023

    What is the current 30% mortgage rate? ›

    Current mortgage interest rates in California

    As of Saturday, May 11, 2024, current interest rates in California are 7.18% for a 30-year fixed mortgage and 6.63% for a 15-year fixed mortgage.

    What is the average 30-year mortgage rate today in New Jersey? ›

    Today's mortgage rates in New Jersey are 6.989% for a 30-year fixed, 6.242% for a 15-year fixed, and 7.990% for a 5-year adjustable-rate mortgage (ARM).

    What is a good mortgage rate? ›

    Today's Mortgage Rates
    Loan TypePurchaseRefinance
    FHA 30-Year Fixed6.92%6.60%
    VA 30-Year Fixed6.42%6.30%
    20-Year Fixed6.78%6.99%
    15-Year Fixed6.24%6.28%
    9 more rows

    What bank has the best interest rate right now? ›

    Best High-Yield Savings Account Rates
    • Evergreen Bank Group – 5.25% APY.
    • CFG Bank – 5.25% APY.
    • Upgrade – 5.21% APY.
    • EverBank – 5.15% APY.
    • RBMAX – 5.15% APY.
    • Bread Savings – 5.15% APY.
    • Popular Direct – 5.15% APY.
    • Western State Bank – 5.15% APY.

    Are mortgage rates really dropping? ›

    The average rate on a 30-year loan remains above 7% even after this week's decline. The average 30-year fixed mortgage rate dipped back toward 7% this week, settling at 7.09%, according to Freddie Mac. This is the first time the weekly average rate has fallen in over a month.

    How to get a 6% mortgage? ›

    How to get a 6% mortgage rate now
    1. Buy mortgage points. ...
    2. Improve your credit score. ...
    3. Increase your down payment. ...
    4. Take out an adjustable-rate mortgage. ...
    5. Negotiate your mortgage rate. ...
    6. Get a shorter home loan term.
    Apr 11, 2024

    Are home mortgage rates dropping? ›

    The 30-year fixed mortgage rate is expected to fall to the mid-6% range through the end of 2024, potentially dipping into high-5% territory by the end of 2025.

    How to get the lowest mortgage rate? ›

    8 steps to get the best mortgage rates
    1. Improve your credit score. ...
    2. Build a steady employment record. ...
    3. Save up for a down payment. ...
    4. Understand your debt-to-income ratio. ...
    5. Check out different mortgage loan types and terms. ...
    6. Consider paying mortgage points. ...
    7. Compare offers from multiple mortgage lenders. ...
    8. Lock in your mortgage rate.
    Feb 26, 2024

    What is the mortgage payment on $100,000? ›

    Monthly payments for a $100,000 mortgage
    Annual Percentage Rate (APR)Monthly payment (15-year)Monthly payment (30-year)
    5 more rows

    Will interest rates come down? ›

    Financial markets are currently predicting the first cut in interest rates will be in June or August 2024. As a general rule: if interest rates fall, the mortgage rate forecast would be for mortgage rates to fall too. But any cuts in interest rates depend on factors such as what happens with inflation.

    What is the highest 30-year mortgage rate ever? ›

    In the fall of 1981, the average 30-year mortgage rate reached an all-time high of 18.63%. We'll examine mortgage trends for the past five decades and look ahead to see what borrowers can expect in 2024.

    What is the best 30-year mortgage rate ever? ›

    2021: The lowest 30-year mortgage rates ever

    And it kept falling to a new record low of just 2.65% in January 2021. The average mortgage rate for that year was 2.96%.

    What is the average monthly mortgage payment in New Jersey? ›

    The average monthly mortgage cost in New Jersey is $1,367, making it one of the most expensive states for homeownership. MoneyGeek's New Jersey mortgage calculator can provide you with an accurate estimate of how much you could have to pay based on numerous criteria such as home price and interest rate.

    Are interest rates expected to go down? ›

    But until the Fed sees evidence of slowing economic growth, interest rates will stay higher for longer. The 30-year fixed mortgage rate is expected to fall to the mid-6% range through the end of 2024, potentially dipping into high-5% territory by the end of 2025.

    Is 2.75 a good mortgage rate? ›

    Buying a home at a low 2.75% rate is fantastic by today's standards. But when you experience buyer's regret and want to sell, you have to deal with current mortgage rates, which are closer to 7%. You might feel stuck if you can't afford to cough up the cash for an outright purchase.

    Are interest rates going up or down now? ›

    Interest rates have held steady since July 2023.

    At its March 2024 gathering the Fed decided to keep the federal funds target rate at 5.25% to 5.5%, where it has remained since July 2023. To combat ongoing inflation, the rate was raised 11 times between March 2022 and July 2023.

    Does the US have high interest rates right now? ›

    The U.S. Federal Reserve held interest rates steady in a range of 5.25% to 5.50% today as it maintains elevated rates to bring inflation down. The Fed cautioned of a “lack of further progress” on inflation recently, but noted current policy is “well positioned.”


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