Mortgage rates today: April 15, 2026

The average 30-year fixed mortgage rate is 6.16% as of April 15, 2026 — down slightly from recent highs but still elevated compared to the sub-6% window borrowers briefly saw in late February. The 15-year fixed is averaging 5.65%, while FHA loans are coming in around 6.08% for well-qualified borrowers.

These rates are shaped by the Federal Reserve's monetary policy, the yield on the 10-year U.S. Treasury bond, and broader inflation trends. The rate you see advertised is a national average — what you're actually offered depends on your credit profile, loan size, property type, and which lender you choose.

Today's mortgage rates — April 15, 2026

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 isolation. The most direct indicator is the 10-year U.S. Treasury yield — when it rises, mortgage rates follow, and when it falls, rates tend to ease.

The Federal Reserve doesn't set mortgage rates directly, but its signals on monetary policy shape the overall cost of borrowing. Rates started 2026 on a positive trajectory, briefly dipping below 6% for the first time in over three years in late February. That progress was reversed after the U.S. launched military operations in the Middle East, pushing energy prices higher and reigniting inflation concerns. According to recent industry data, the 30-year fixed climbed back to 6.46% before pulling back as a two-week ceasefire was announced. Economists caution that the relief may be temporary until a more permanent resolution emerges.

Inflation data remains the third major driver. When consumer price data comes in higher than expected, bond yields typically rise, pulling mortgage rates upward with them.

Understanding how mortgage interest works can help you put today's environment in better context.

30-year vs. 15-year vs. ARM — which makes sense right now?

Example is for illustrative purposes only. Rates, payments, and total interest will vary based on credit profile, loan terms, and market conditions.

On a $400,000 loan, the difference between a 30-year at 6.16% and a 15-year at 5.65% is roughly $860 more per month on the 15-year — but you'd pay approximately $193,000 less in total interest over the life of the loan. Use the mortgage calculator to run your own numbers.

If you're considering a refinance, the refinance calculator can show you the break-even timeline — the point at which your monthly savings outweigh your closing costs.

Should you lock your rate today?

A rate lock is a lender's commitment to hold a specific interest rate for a set period — typically 30 to 60 days — while your loan moves through underwriting and closing. If rates rise during that window, you're protected. 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.

In the current environment, rates have moved as much as 25–50 basis points in a single week. On a $400,000 loan, a quarter-point increase adds roughly $60 per month — and more than $20,000 over the life of the loan.

If the rate available to you today makes the payment work, locking removes one major variable from an already complex process.

How to get the best rate available to you

The advertised rate is rarely the rate most borrowers receive. Here's what actually moves the number in your favor:

1. Strengthen your credit score. Even moving from 699 to 720 can unlock a lower rate tier. Learn how to qualify for a mortgage and what lenders are evaluating.
2. Lower your DTI before you apply. Paying down revolving balances can shift your debt-to-income ratio enough to qualify for a better product. Read our guide on how to lower your debt-to-income ratio.
3. Compare multiple lenders. Rates vary more than most borrowers expect. See how to shop around for mortgage rates and find out whether mortgage rates are negotiable.
4. Consider buying down your rate. Paying mortgage points upfront reduces your rate over the life of the loan. Run the break-even math before committing.
5. Choose the right loan type. FHA, VA, and conventional loans each suit different borrower profiles and carry different rate structures.

Better's fully online process lets you see real rate options based on your actual financial profile — no commissioned loan officers, no branch visits. All claims about Better's process are available at better.com/claims.

Frequently asked questions

What are mortgage rates right now, and are they expected to go up or down?

The 30-year fixed rate is 6.16% as of April 15, 2026, based on the latest industry data. The near-term direction is uncertain — it depends on the trajectory of the conflict in the Middle East, upcoming inflation readings, and Federal Reserve signals. Industry economists expect rates to remain in the mid-6% range for the near term.

I have a 680 credit score and 10% down — what rate can I realistically expect?

With a 680 score and 10% down, expect a rate 0.50%–1.25% above the best available rate — putting you closer to 6.75%–7.25% in today's market. You'd also be subject to PMI since your down payment is below 20%. Use the mortgage calculator to model your monthly payment at different rate scenarios.

Is it better to get a 30-year or 15-year mortgage when rates are this high?

The 15-year is at 5.65% today versus 6.16% for the 30-year — a meaningful spread. If the higher monthly payment on the 15-year is manageable, the interest savings over the life of the loan are substantial. If not, the 30-year gives you flexibility to pay extra principal when finances allow.

Should I wait for rates to drop before buying, or buy now and refinance later?

The median existing home price recently hit a record high for the month of March, according to recent housing data. Waiting risks paying more for the home itself. If the payment works at today's rate, buying now and refinancing if rates drop meaningfully is a legitimate strategy for many borrowers.

I'm self-employed with variable income — will that hurt my rate?

Not your rate directly, but it affects qualification. Lenders will typically average your last two years of net income from tax returns, which may be lower than your actual cash flow. You may need additional documentation compared to a salaried borrower.

What's the worst that can happen if I don't lock my rate?

Rates rose nearly 50 basis points in a matter of weeks following recent geopolitical events. On a $500,000 loan, a 0.50% increase adds roughly $150 per month — over $54,000 across a 30-year term.

How much does paying one mortgage point lower my rate?

One point equals 1% of the loan amount paid upfront and typically reduces your rate by about 0.25%. On a $400,000 loan, that's $4,000 upfront to save roughly $57 per month — a break-even of about 70 months. Learn more about mortgage points and how to decide if a buydown makes sense for your situation.

I'm trying to refinance but my current rate is already 6.5% — does it make sense?

With the 30-year at 6.16% today, there may be a modest rate-and-term opportunity. Run the math using the refinance calculator to see if the closing costs are worth it given how long you plan to stay in the home. You can also check today's refinance rates to compare current options.

The bottom line

The 30-year fixed mortgage rate is 6.16% today. That's elevated by historical standards, but it's lower than where rates stood just a few weeks ago — and well below where they were this time last year. The rate you're actually offered depends on your credit, your down payment, and which lender you choose. The best way to know your number is to get a real quote.