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![Family in home after learning today's mortgage rates - April 14, 2026
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The average 30-year fixed mortgage rate on April 14, 2026 is 6.40%, according to the latest national lender survey data. The 15-year fixed is averaging 5.75%, and 5/1 adjustable-rate mortgages (ARMs) are sitting around 6.40%. Rates have climbed roughly 40 basis points since February 2026, driven largely by rising oil prices and renewed inflation concerns following geopolitical developments — a reversal from the 6.09% low reached earlier in the year. Whether today's rate makes sense for your situation depends on your loan type, timeline, and what you'd actually qualify for — not the headline number.
Where mortgage rates stand on April 14, 2026
Here's a snapshot of today's average mortgage rates:¹
| Loan type | Today's average rate | Change vs. last week |
|---|---|---|
| 30-year fixed | 6.40% | Down ~6 basis points |
| 15-year fixed | 5.75% | Roughly flat |
| 5/1 ARM | 6.40% | Flat |
These are industry average rates, not APRs, and they don't account for your individual credit profile, loan size, or down payment. Your actual rate will vary. To see current mortgage rates specific to your scenario, you'll want to get a real quote from a lender.
What the rate table means for your monthly payment
To make today's numbers concrete: on a $400,000 purchase with a 20% down payment, here's how the 30-year and 15-year fixed rates translate to estimated principal and interest payments.
| Loan type | Loan amount | Rate | Est. monthly P&I |
|---|---|---|---|
| 30-year fixed | $320,000 | 6.40% | ~$1,997 |
| 15-year fixed | $320,000 | 5.75% | ~$2,659 |
Example is for illustrative purposes only. Rates, payments, and total interest will vary based on credit profile, loan terms, and market conditions.
The 15-year option costs more each month, but you'll pay roughly half the total interest over the life of the loan. Use a mortgage calculator to run your own numbers based on your purchase price and down payment.
What's driving mortgage rates right now
Mortgage rates don't move in lockstep with the Federal Reserve's benchmark rate — they track the 10-year Treasury yield much more closely. When investors expect higher inflation or stronger economic growth, they demand higher yields on long-term bonds, and mortgage rates rise with them. When economic uncertainty rises and investors move toward safer assets, yields fall and mortgage rates tend to follow.
Rates were on a downward trajectory entering 2026, touching a yearly low of around 6.09% earlier in the year. That trend reversed in February when geopolitical developments sent oil prices higher, reigniting inflation concerns and pushing 10-year Treasury yields — and mortgage rates — back up. Since then, the 30-year fixed has climbed more than 40 basis points and has been hovering in the low-to-mid 6% range through April.
The Federal Reserve has held its benchmark rate steady, signaling that cuts remain possible but aren't imminent until inflation shows more sustained progress toward the 2% target. If you're trying to understand what determines mortgage rates beyond today's snapshot, the Fed/Treasury relationship is the most important concept to understand.
Should you lock your rate today or wait?
This is the question most buyers and refinancers are wrestling with, and there's no single right answer. Here's a clear framework:
Lock today if:
- You're closing within 30–60 days and rates are at a level that works for your budget
- You've been watching rates drift higher and don't want more upside risk
- Your rate lock period aligns with your closing timeline
Consider floating if:
- You have a longer timeline before closing (90+ days) and can absorb short-term volatility
- Credible economic signals suggest inflation is cooling and rates may ease
- Your lender offers a float-down option that protects you if rates fall
The honest risk of waiting: mortgage rates don't move predictably, and the cost of rates moving 0.25% against you — on a $320,000 loan — adds roughly $53 per month and over $19,000 in total interest over 30 years. Waiting for a rate that never comes is one of the most common and costly mistakes active homebuyers make.
If you're unsure whether to lock, knowing how to shop around for mortgage rates first will give you a more confident baseline. And it's worth asking your lender: are mortgage rates negotiable? In some cases, they are.
How to get today's actual rate — not just an average
The rates you see in news articles and rate trackers are averages across thousands of borrowers. They're useful for context, but they don't tell you what you'd actually pay.
Your personal rate is shaped by:
- Credit score — The single biggest factor. Borrowers with scores above 740 typically get the lowest available rates. A score around 680 could mean a rate that's 0.25–0.75% higher than the advertised average.
- Loan-to-value ratio (LTV) — The more equity or down payment you bring, the lower your rate tends to be.
- Debt-to-income ratio (DTI) — Lenders look at how much of your monthly income goes toward debt. Higher DTI can push your rate up or affect your eligibility.
- Loan type — Conventional, FHA, VA, and jumbo loans all carry different rate ranges.
- Loan term — 30-year, 20-year, and 15-year loans are priced differently. Current refinance rates may differ from purchase rates even for the same term.
The only way to know your actual rate is to get a real quote — ideally from a lender who lets you see personalized rates without requiring a full application. Better's rate dashboard is built for that: you can view rates that reflect your loan scenario, with full transparency on what you're seeing and why.
FAQ
What are mortgage rates today on April 14, 2026?
The average 30-year fixed mortgage rate on April 14, 2026 is 6.40%, based on the latest national lender survey data. The 15-year fixed is averaging around 5.75%. These are market averages — your individual rate will depend on your credit score, down payment, debt-to-income ratio, and loan type.
I'm closing on a house in 30 days — should I lock my mortgage rate today or wait to see if rates drop?
If you're closing within 30 days and today's rate fits your budget, locking now is generally the lower-risk move. Rates have been trending higher since February and can move in either direction without warning. Floating a rate close to closing introduces meaningful payment risk. Talk to your lender about the length of your lock period and whether a float-down option is available.
How much does a 0.5% difference in mortgage rates actually affect my monthly payment on a $400,000 loan?
On a $400,000 purchase with 20% down (a $320,000 loan balance), a 0.5% rate difference — say, 6.40% vs. 6.90% on a 30-year fixed — changes your monthly principal and interest payment by roughly $103 per month. Over 30 years, that adds up to approximately $37,000 in additional interest. Use the mortgage calculator to run your exact scenario.
My credit score is around 680 — will I get the average mortgage rate I keep seeing advertised?
Likely not at the best-tier pricing. Most advertised averages reflect borrowers with credit scores above 740 and solid down payments. A 680 score may put you in a higher pricing tier, meaning your rate could be 0.25–0.75% above the headline number. Improving your score before applying — even by 20–30 points — can make a meaningful difference.
Are today's mortgage rates good compared to where they were last year?
Yes, modestly. The 30-year fixed averaged around 6.62% a year ago at this time, so today's 6.40% represents a slight improvement — though rates have risen about 40 basis points since the 2026 low of 6.09% reached earlier in the year. What matters most is whether today's rate creates an affordable monthly payment for your specific budget. To understand longer-term context, read about why mortgage rates are going up and the broader forces at work.
I've been floating my rate for two weeks waiting for it to drop — at what point should I just lock?
Given that rates have been trending higher since February, continuing to float carries real upside risk right now. If you're within 45 days of closing, the case for locking is strong. Ask your lender for a clear picture of what you stand to gain from waiting vs. the risk of rates moving further against you.
Is a 15-year mortgage worth it if rates are only slightly lower than the 30-year right now?
The value of a 15-year mortgage isn't just the lower rate — it's the dramatically reduced total interest over the life of the loan. At today's rates (6.40% vs. 5.75%), the spread is 65 basis points. On a $320,000 loan, choosing the 15-year saves you well over $100,000 in total interest, though your monthly payment will be roughly $660 higher. Whether that trade-off works depends on your cash flow and financial goals.
What's the difference between the mortgage rate I see on a news site and the rate I'd actually get from a lender?
Published rates are averages across a wide population of borrowers and loan types. They often reflect the best-case pricing tier and may include discount points (fees paid upfront to lower the rate). Your actual rate is personalized based on your credit profile, loan amount, property type, and down payment. Always look at the APR — annual percentage rate — alongside the interest rate to understand the true cost of the loan.
Mortgage rates on April 14, 2026 are at 6.40% for a 30-year fixed — up from the year's low but meaningfully below the 7%+ levels seen in early 2025. The direction of rates from here depends on how inflation data and geopolitical developments evolve over the coming weeks. The most important step you can take today is getting a real rate — not an average — so you know exactly what you're working with.