Mortgage rates today: April 13, 2026

As of April 13, 2026, the average 30-year fixed mortgage rate is approximately 6.82%, based on industry data. The 15-year fixed is averaging around 6.18%, and the 5/1 adjustable-rate mortgage (ARM) is near 6.45%. Rates have remained in an elevated range through early April, with bond market volatility and sustained Federal Reserve caution keeping them from moving meaningfully lower. Whether you are buying or refinancing, your actual rate will depend on your credit score, down payment, loan type, and lender.

Today's mortgage rates at a glance

These are national averages — your actual rate depends on your credit score, down payment, loan amount, and lender.

What's moving rates right now

Mortgage rates don't move in a vacuum. They track the yield on the 10-year U.S. Treasury bond more closely than any other benchmark — and that yield has been holding above 4.4% through the first half of April 2026.

Recent industry and economic data shows inflation has cooled from its 2022–2023 peaks but remains slightly above the Federal Reserve's 2% target. The labor market, while softening slightly, remains broadly healthy. Together, these factors have given the Fed reason to hold its benchmark rate steady rather than cut — and markets have priced that patience into mortgage rates.

On top of that, ongoing trade policy uncertainty — particularly around tariffs and supply chain pressures — has contributed to bond market volatility. When bond investors are uncertain, yields tend to rise, and mortgage rates follow.

To understand why mortgage rates are going up in periods like this, it helps to know the full picture of the forces involved.

The Fed vs. mortgage rates — what's the real connection

This is one of the most common misconceptions in mortgage finance: the Federal Reserve does not set mortgage rates directly. When the Fed raises or lowers its federal funds rate, it affects short-term borrowing costs — like credit cards and auto loans. Mortgage rates, by contrast, are priced against long-term bond yields, primarily the 10-year Treasury.

When investors expect slower economic growth or lower future inflation, they buy more Treasury bonds, pushing yields down — and mortgage rates often follow. When uncertainty is high and investors demand more return to hold long-term debt, yields rise, and current mortgage rates climb with them.

Understanding what determines mortgage rates helps you set realistic expectations regardless of what the Fed announces on any given day.

How your rate is actually determined

National average rates are a useful reference point, but the rate you qualify for could be notably higher or lower depending on several borrower-specific factors:

Credit score: This is the single biggest lever a borrower controls. A score above 760 typically qualifies for the best available rates. Scores in the 680–720 range often mean rates 0.25–0.75 percentage points higher, depending on the lender and loan type.

Down payment and loan-to-value (LTV): Lenders price risk. A borrower putting 20% down carries less risk of default than one putting 5% down — and that's reflected in the rate offered. Lower LTV generally means a better rate.

Loan type: A conventional loan, an FHA loan, and a VA loan all carry different rate structures. FHA loans may carry slightly higher rates but accept lower credit scores. VA loans often offer some of the most competitive rates available for eligible veterans and active-duty service members.

Debt-to-income ratio (DTI): Lenders also evaluate how much of your monthly income goes toward existing debt payments. A high DTI — even with excellent credit — can push your rate up or limit your loan options.

To model out what different rates mean for your monthly payment, use the mortgage calculator to run scenarios before you start shopping.

If you're comparing lenders, it's worth learning how to shop around for mortgage rates — the spread between the best and worst offers on the same loan can be substantial.

Should you lock your rate today?

A rate lock is an agreement between you and your lender that guarantees a specific interest rate for a defined period — typically 30, 45, or 60 days — while your loan is being processed. If rates rise during that window, your locked rate is protected. If rates fall, you are committed to the higher locked rate.

The decision to lock comes down to your timeline and risk tolerance. If you have a purchase agreement in place and a closing date set, locking now provides certainty. Waiting in hopes of a drop introduces the risk that rates move the other way.

One option worth knowing about: many lenders offer float-down options that allow you to lock a rate and then move to a lower rate should it drop materially before closing. This provides a degree of downside protection without requiring you to leave your rate fully exposed.

If you are uncertain about should i lock my mortgage rate today, the most important thing to know is that the best time to lock is typically when you have a signed purchase contract and a realistic close date — not as a speculation on rate movement.

What today's rates mean for buyers vs. refinancers

For homebuyers: At 6.82%, the principal and interest payment on a $400,000 loan comes to approximately $2,618 per month. At 6.0% — the rate many buyers locked in 2021–2022 — that same loan would have been about $2,398 per month. That's a meaningful monthly difference, but the right question is not are rates high — it's do the numbers work for me at this moment, in this market?

Home prices in many markets have adjusted somewhat from their 2022 peaks, which offsets some of the rate impact for buyers entering today. Running the math with your actual purchase price and down payment gives you a clearer picture than comparing to historical lows.

For refinancers: The refinance question is simpler in concept: does your current rate justify the cost of a new loan? If you closed in 2023 or early 2024 at rates between 7–8%, today's rate environment may be worth exploring. Use the refinance calculator to model break-even timing — how many months of savings it takes to recoup closing costs — before making a decision.

You can also check today's refinance rates to see where refinance pricing stands right now.

Frequently asked questions

What are mortgage rates today?

As of April 13, 2026, the average 30-year fixed mortgage rate is approximately 6.82%, based on Better Mortgage data. Rates for 15-year fixed loans average around 6.18%, and 5/1 ARMs are near 6.45%. These are averages — your actual rate will depend on your credit profile, down payment, loan type, and lender.

Why are mortgage rates still high if the Fed paused rate hikes?

The Federal Reserve's benchmark rate and mortgage rates are linked indirectly, not directly. Mortgage rates follow the 10-year Treasury yield, which is shaped by inflation expectations, economic growth signals, and investor demand for bonds. Even with the Fed on pause, bond market volatility and above-target inflation have kept Treasury yields — and therefore mortgage rates — elevated.

What credit score do I need to get the best mortgage rate?

Most lenders reserve their best rates for borrowers with credit scores of 760 or above. Scores between 720–759 will typically still qualify for competitive rates, though slightly higher. Scores below 700 may face meaningfully higher rates or more limited loan options. Check the minimum credit score for a mortgage to understand what different score bands mean for your options.

Should I wait for rates to drop before buying?

There's no reliable way to predict exactly when — or if — rates will fall to a specific level. If you are financially ready and find a home that works for your budget at today's payment levels, waiting primarily introduces the risk that home prices rise or competition intensifies. Many buyers in today's market focus on qualifying for the home that makes sense now, with an eye toward refinancing if rates improve materially.

What's the difference between the rate I see advertised and the rate I'll get?

Advertised rates typically reflect the best-case borrower profile — excellent credit, 20% down, no points paid. Your rate will reflect your specific credit score, LTV, DTI, loan amount, and loan type. The only way to know your actual rate is to apply. Better lets you check your rate in as little as three minutes without a hard credit pull.

What is a rate lock, and should I lock in today?

A rate lock protects your quoted rate for a set period while your loan processes. If you have a signed purchase contract and a defined close date, locking today provides protection against rate increases. If you are still early in your home search, locking may be premature. Many lenders offer float-down options that allow you to lock a rate and then move to a lower rate should it drop materially before closing.

Is it a good time to refinance?

That depends on your current rate. If you closed in 2023 at 7.5% or higher, today's rates in the mid-6% range may pencil out — especially if you plan to stay in the home long enough to recoup closing costs. The refinance calculator can help you model break-even timing for your specific numbers.

Mortgage rates today reflect an environment of elevated but stabilizing costs. The national average 30-year fixed rate of approximately 6.82% is meaningfully higher than rates available in 2020–2021, but there's still significant variation based on individual borrower profiles. Checking your personalized rate — rather than relying on averages — is the most accurate starting point for any purchase or refinance decision.