Mortgage Rates Today
Compare current mortgage rates from top lenders. Our rates are updated daily and include options for purchase, refinance, and first-time buyers.
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Current Mortgage Rates
Average rates based on a $400,000 loan amount with 20% down payment and 740+ credit score. Your actual rate may vary.
| Loan Type | Interest Rate | APR | Daily Change |
|---|---|---|---|
| 30-Year Fixed | 6.22% | 6.29% | +0.11% |
| 15-Year Fixed | 5.54% | 5.63% | +0.04% |
| 20-Year Fixed | 5.88% | 5.96% | +0.07% |
| 5/1 ARM | 6.06% | 6.93% | +0.11% |
| 7/1 ARM | 6.16% | 6.86% | +0.11% |
| FHA 30-Year | 5.72% | 6.62% | +0.11% |
| VA 30-Year | 5.47% | 5.72% | +0.11% |
| Jumbo 30-Year | 6.52% | 6.59% | +0.12% |
Rates shown are averages and may not reflect the rate you qualify for.Get a personalized quote to see your actual rate.
Source: Freddie Mac Primary Mortgage Market Survey via FRED | Updated: Mar 19, 2026
Understanding Today's Mortgage Rates
What Determines Your Rate?
Your mortgage rate depends on several factors, including market conditions and your personal financial profile. Here are the key factors lenders consider:
- Credit score (higher = better rates)
- Down payment percentage
- Loan amount and type
- Property location and type
- Debt-to-income ratio
- Employment history
Rate vs. APR: What's the Difference?
The interest rate is the cost of borrowing the principal. The APR (Annual Percentage Rate) includes the interest rate plus other costs like:
- Origination fees
- Discount points
- Mortgage insurance premiums
- Closing costs rolled into the loan
- Other lender fees
APR gives you a more complete picture of the total cost of your mortgage.
Market Outlook for 2026
Mortgage rates have been on a gradual downward trend as the Federal Reserve responds to cooling inflation. While rates remain higher than the historic lows seen in 2020-2021, many economists expect continued moderation through 2026. The consensus forecast suggests 30-year fixed rates could settle in the low-to-mid 6% range by year-end, with further decreases possible in 2027 if economic conditions allow for Fed rate cuts. However, rate movements remain sensitive to inflation data, employment reports, and global economic factors. Working with a mortgage professional can help you develop a strategy that accounts for market uncertainty.
Mortgage Rates by Arizona City
Rates can vary by location. See average rates for major Arizona cities.
Compare Loan Types
30-Year Fixed
The most popular choice for homebuyers. Offers predictable monthly payments and long-term stability.
- Lowest monthly payment
- Rate never changes
- Best for long-term owners
15-Year Fixed
Build equity faster and pay less interest overall. Higher monthly payments but significant long-term savings.
- Lower interest rate
- Pay off home faster
- Save on total interest
Adjustable Rate (ARM)
Lower initial rate that adjusts after a fixed period. Good for those planning to move or refinance.
- Lower initial rate
- 5, 7, or 10-year fixed periods
- Best for short-term owners
Frequently Asked Questions
What is a good mortgage rate right now?
As of today, a good mortgage rate for a 30-year fixed loan is around 6.50% to 6.75% for borrowers with excellent credit (740+). Rates vary based on your credit score, down payment, loan amount, and property location. Getting quotes from multiple lenders is the best way to ensure you're getting a competitive rate.
Should I lock my mortgage rate today?
Whether to lock depends on your timeline and risk tolerance. If you're closing within 30-60 days and rates are favorable, locking can protect you from increases. Many experts suggest locking when you find a rate you're comfortable with, as trying to time the market perfectly is difficult.
How often do mortgage rates change?
Mortgage rates can change multiple times per day based on bond market movements. Lenders typically update their rate sheets each morning, but may adjust throughout the day during volatile periods. Economic reports, Federal Reserve announcements, and global events all impact daily rate movements.
What credit score do I need for the best mortgage rates?
To qualify for the best mortgage rates, you typically need a credit score of 740 or higher. Scores between 700-739 still qualify for competitive rates. FHA loans are available with scores as low as 580, though you'll pay higher rates. Improving your score before applying can save thousands over the loan term.
Are mortgage rates going up or down in 2026?
Most economists predict mortgage rates will gradually decrease through 2026 as inflation continues to moderate. However, rate movements depend on economic conditions, Federal Reserve policy, and market factors. Working with a mortgage professional can help you decide the best timing for your situation.
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