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Rates included in this article are daily averages based on Better Mortgage data. They're not APRs. Actual rates vary by borrower.
The average interest rate on a 30-year fixed mortgage increased to 6.65% today, and the average 15-year fixed rate is 6.20%.
Rates have drifted back up toward their highest levels in roughly 10 months after the fragile ceasefire between the U.S. and Iran broke down this week, pushing oil prices and bond yields higher, and most industry economists expect rates to stay above 6% for the rest of the year unless inflation cools meaningfully.
But most buyers don't get national average rates. Real rates are based on your personal finances. Getting pre-approved can show personalized rates.
Today's average mortgage rates at a glance
| Loan type | Average rate |
|---|---|
| 30-year fixed | 6.65% |
| 15-year fixed | 6.20% |
| 5/1 ARM | 6.25% |
| 30-year fixed refinance | 6.84% |
| 15-year fixed refinance | 6.28% |
These are national averages — your actual rate depends on your credit score, down payment, loan amount, and lender.
What's moving rates this week
Mortgage rates track the bond market more closely than they track the Federal Reserve's benchmark rate. Even with the Fed holding its short-term rate steady last month, longer-term Treasury yields moved up this week after the ceasefire between the U.S. and Iran broke down, rattling markets.
The conflict matters because it has the potential to increase oil prices. Rising oil prices signal the possibility of higher inflation ahead, and higher inflation pushes up bond yields. Average 30-year fixed mortgage rates tend to track 10-year Treasury bond yields.
That sequence of events has helped push today's average rates to their highest level in about 10 months.
Should you lock your rate today or wait?
Many homebuyers are in the middle of a move and need to close on their home regardless of today's average rates.
If you're within 30 to 45 days of closing, locking now is usually the best move. Rates change every day, and there's no way to predict with certainty which way they'll go.
If you're refinancing or have more time before closing, you have more freedom to watch how the conflict develops before deciding whether to lock today or keep waiting.
30-year fixed vs. 15-year fixed: which one fits you
Average rates on 15-year loans tend to come in lower than average rates on 30-year fixed loans. That's true today.
Average 15-year fixed loans are showing 6.20% compared to 6.65% for 30-year fixed rate averages.
But a 15-year loan requires a higher monthly payment because borrowers have half the time to repay the loan. Many borrowers can't afford the higher payments on a 15-year loan.
For example, on a $400,000 loan, a 30-year fixed at 6.65% runs a monthly principal-and-interest payment in the neighborhood of $2,565, while a 15-year fixed at 6.20% would run closer to $3,405 a month.
This example is for illustrative purposes only. Rates, payments, and total interest will vary based on credit profile, loan terms, and market conditions.
Refinancing at today's rates
Refinancing makes sense only when your savings outweigh the closing costs on the new loan. If your current rate is well above today's refinance rates, it's worth considering a refinance, but even a lower rate isn't guaranteed to save money.
Actual savings depend on how long you keep the lower rate. You'd need to stay in the new loan long enough for the monthly savings to add up to the upfront costs.
A pre-approval can help measure costs and savings based on your real finances.
...in as little as 3 minutes — no credit impact
Frequently asked questions
Are mortgage rates going up or down right now, and should I lock in today or wait?
Rates have drifted back up over the past couple of days after the ceasefire between the U.S. and Iran broke down, which pushed oil prices and bond yields higher and put the 30-year fixed near its highest level in about 10 months. If you're closing a loan soon, locking now is generally the lower-risk choice, since rates can move quickly in either direction.
I have a credit score around 680. What mortgage rate can I actually expect today?
The rates listed in this article are national averages for borrowers with strong credit and typical down payments. With a credit score around 680, you'd likely see a rate somewhat above today's average, since lenders price in more risk for lower scores. The only way to know your actual rate is to get a personalized quote from a lender.
If I lock my rate today and rates drop before closing, am I stuck with the higher rate?
Not always. Many lenders offer float-down options that let you move to a lower rate if rates drop materially before closing, typically for a fee. Terms and eligibility vary by lender, so it's worth asking directly about what's available on your loan.
How much does a 0.25% difference in mortgage rate actually change my monthly payment on a $400,000 loan?
On a $400,000 loan, a quarter-point rate difference typically changes the monthly principal-and-interest payment by roughly $60 to $65, depending on the loan term. That gap compounds significantly over the life of a 30-year loan, which is why shopping multiple lenders for even a small rate improvement is worth the effort.
I'm self-employed with variable income. Do mortgage rates today apply the same way to me?
The rate itself isn't different for self-employed borrowers, but qualifying can look different. Lenders typically average two years of income documentation rather than relying on a single pay stub, so your effective qualifying income may differ from your most recent year's earnings. It's worth talking to a loan officer early to understand how your income will be calculated.
Bottom line on today's average mortgage rates
Mortgage rates today are trending higher: 6.65% for a 30-year fixed, 6.20% for a 15-year fixed, with refinance rates running a bit above that.
To see rates that reflect your personal finances, you'll need a mortgage pre-approval.
Better's pre-approval can show results in as little as three minutes without requiring a hard credit check.
...in as little as 3 minutes — no credit impact
Rates shown here are daily average interest rates, not APRs, based on Better Mortgage data and are for informational purposes only. Rates are not guaranteed, may include borrower-paid or lender credits, and actual rates and terms vary by borrower and transaction. Comparison to industry average rates may not reflect individual borrower scenarios and is not a guarantee of lower rates or savings.