Mortgage rates today — April 21, 2026

As of April 21, 2026, the average 30-year fixed mortgage rate is 6.29%, the 15-year fixed is 5.91%, and the 7/6 SOFR ARM is approximately 6.07%. Rates are holding near their lowest levels in over a month, staying essentially flat despite some weekend volatility tied to the Iran war ceasefire window. The 10-year Treasury yield — the primary benchmark for mortgage rate pricing — is sitting at 4.247%, easing slightly as markets position for further geopolitical de-escalation.

Your actual mortgage rate will differ from these averages. Lenders price individual rates based on your credit score, down payment, loan type, property location, and loan term. A borrower with a 760+ credit score and a 20% down payment can typically expect a meaningfully lower rate than the published average. Shopping multiple lenders — ideally three or more — remains one of the most effective ways to reduce the rate you're offered. You can check your personalized rate at Better without any credit impact, in as little as 3 minutes.

Today's mortgage rates — April 21, 2026

The table below shows current average interest rates¹ by loan type, alongside last week's figures.

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

You can view today's mortgage rates on Better's rate dashboard and see a personalized estimate based on your loan scenario.

What's moving mortgage rates this week

Mortgage rates don't move on their own — they follow the bond market, and specifically the yield on the 10-year U.S. Treasury note. When that yield rises, lenders typically raise mortgage rates in response. When it falls, rates tend to ease.

How the 10-year Treasury affects your rate

The 10-year Treasury yield serves as the primary benchmark lenders use when pricing 30-year fixed mortgages. The spread between the two — typically 1.5 to 2.5 percentage points — reflects lender risk and market conditions. Today, the 10-year yield is at 4.247%, easing slightly as markets eye potential resolution in the Iran conflict.

The Federal Reserve's benchmark interest rate doesn't directly set mortgage rates, but Fed signals about the future direction of policy influence bond yields — and by extension, the rates you see on a purchase loan or refinance today. According to recent industry data, the bond market has held in a narrow range for most of April, with volatility driven primarily by war-related headlines rather than domestic economic data. The two-week Iran war ceasefire is currently set to expire within the next 48 hours — markets are positioned for de-escalation, but any unexpected escalation could push yields, and mortgage rates, back up quickly. Conversely, a formal end to the conflict and full reopening of the Strait of Hormuz would likely ease oil prices, lower inflation expectations, and provide further support for lower rates.

How today's rates affect your monthly payment

Rate changes have a direct and significant effect on what you'll pay each month. Here's how today's 30-year fixed rate of 6.29% compares to where rates were in mid-March, when the Iran conflict was pushing rates above 6.50%.

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

Even a quarter-point improvement in rate saves a $400,000 borrower roughly $60 per month — and over $21,000 across a 30-year loan. Use the mortgage calculator to run your own numbers with today's rate.

Fixed vs. adjustable rates — which makes sense right now

The decision between a 30-year fixed and an adjustable-rate mortgage (ARM) comes down to how long you plan to stay in the home and your tolerance for payment uncertainty.

A 30-year fixed mortgage locks in your rate and payment for the life of the loan. At 6.29% today, many buyers value that certainty — particularly given how quickly rates moved in March when geopolitical events reshaped the bond market in a matter of days.

Today's 7/6 SOFR ARM is running around 6.07%, roughly 0.22 percentage points below the 30-year fixed. If you're confident you'll sell or refinance within seven years, that introductory savings can add up. On a $400,000 loan, the lower ARM rate saves approximately $57 per month during the initial fixed period. If there's any chance you'll stay longer, the post-adjustment uncertainty is a real risk worth pricing in — especially given that ARM rates adjust to a benchmark index that could be higher by the time your initial period ends.

For a full comparison of how these two options perform across different holding-period scenarios, see our guide to fixed vs. adjustable rate mortgages. If you currently have an ARM and are wondering whether now is a good time to lock into a fixed rate, current refinance rates and your break-even calculation are the right starting point.

How to get a lower mortgage rate

Today's rates represent what the market offers broadly — but they're not the rate you'll necessarily get. Several factors within your control can move your rate meaningfully:

Credit score has the largest individual impact on pricing. A borrower with a 760+ score will typically qualify for a meaningfully lower rate than a borrower in the 620–640 range — often 0.5 to 1.0 percentage points lower, depending on the loan type and down payment. If your score is below 700, working to raise it before applying can save significantly over the life of the loan. For a full breakdown of how lenders use credit tiers, see what determines mortgage rates.

Down payment affects your loan-to-value ratio (LTV), which lenders use to assess risk. Putting down 20% or more typically unlocks better pricing and eliminates private mortgage insurance (PMI). Even moving from 5% down to 10% down can improve your rate tier.

Loan term matters too. Today's 15-year fixed at 5.91% is 0.38 percentage points lower than the 30-year fixed — because the lender carries interest rate risk for half the time. The monthly payment is higher, but the total interest paid over the life of the loan is dramatically less.

Shopping multiple lenders consistently produces better outcomes for borrowers. Getting quotes from three or more lenders before you lock gives you real leverage. Read our full guide to how to shop around for mortgage rates for a step-by-step process. And if you're wondering whether the rate you're offered has any room to move, the answer is often yes — mortgage rates are negotiable more often than borrowers realize.

If you're considering refinancing rather than purchasing, when to refinance your mortgage covers how to calculate your break-even and determine whether today's rates justify the move.

Frequently asked questions

What are mortgage rates today on April 21, 2026?

As of April 21, 2026, the average 30-year fixed mortgage rate is 6.29%, the 15-year fixed is 5.91%, and the 7/6 SOFR ARM is approximately 6.07%. FHA and VA 30-year rates are running around 6.02%. You can check today's mortgage rates on Better for a personalized estimate based on your loan scenario.

I'm looking to buy a $400,000 home — what would my monthly payment be at today's mortgage rates?

At today's 30-year fixed rate of 6.29%, a $400,000 loan would carry a principal and interest payment of approximately $2,480 per month. Use the mortgage calculator to model your specific down payment, loan amount, and rate. Taxes, insurance, and HOA fees are not included in that estimate.

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

Why are mortgage rates still elevated even though inflation has come down?

Mortgage rates track the 10-year Treasury yield, not inflation directly. Even as inflation has moderated, the Iran war has driven oil prices higher — keeping inflation expectations elevated and bond yields with them. According to recent industry data, the 10-year Treasury yield has stayed in a relatively narrow range through April as markets assess the durability of the current ceasefire. If the conflict resolves and oil prices ease, inflation expectations — and rates — could move lower. But the timing of that is impossible to predict.

Is a 30-year fixed or a 7/6 ARM a better deal right now?

It depends on how long you plan to hold the loan. Today's ARM rate of ~6.07% is about 0.22 points lower than the 30-year fixed. On a $400,000 loan, that saves roughly $57/month during the initial fixed period. If you're confident you'll sell or refinance within seven years, the ARM has a compelling case. If there's uncertainty around your timeline, the 30-year fixed eliminates the risk of a higher rate at adjustment.

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

I have a 680 credit score — how much higher will my mortgage rate be compared to someone with a 760?

On a conventional loan, a 680 score vs. a 760 score can mean a rate difference of roughly 0.5 to 1.0 percentage points, depending on your down payment and loan amount. That's driven by loan-level price adjustments (LLPAs) that lenders apply based on credit risk tiers. Improving your score by 20–40 points before applying can meaningfully reduce your cost. See what determines mortgage rates for more detail on how credit tiers affect pricing.

If the Fed cuts rates later in 2026, will mortgage rates drop automatically?

Not necessarily. The Federal Reserve controls the federal funds rate, which primarily affects short-term borrowing costs. Mortgage rates track the 10-year Treasury yield, which responds to longer-term economic expectations — including growth, inflation, and geopolitical risk. A Fed cut the market has already anticipated may already be reflected in current yields. That said, a sustained cutting cycle combined with easing inflation has historically supported lower mortgage rates over time. 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.

How many lenders should I get quotes from before locking my rate?

Most borrowers benefit from getting quotes from at least three lenders before locking. Each quote should reflect the same loan amount, term, and type so you're making a true comparison. Even a 0.125% rate difference compounds to thousands of dollars over a 30-year loan. Learn more about how to shop around for mortgage rates.

Should I lock my mortgage rate now or wait for rates to drop further?

No one can reliably predict short-term rate movements — and the next 48 hours carry specific event risk as the Iran ceasefire window closes. If the payment works at today's rate and you've found the right home, locking removes uncertainty. If you're still early in your search, staying informed through Better's rate dashboard costs nothing and requires no credit pull. Check today's mortgage rates to see where things stand in real time.