Interest Rates
What Are Mortgage Rates Today? Where to Check and How to Read Them
Which sources publish current mortgage rates, why the advertised rate is rarely the rate you get, and how to compare quotes properly using APR.
By Michael Bennett · Reviewed by Legamoney Mortgage & Lending Desk
Key takeaways
- Freddie Mac's Primary Mortgage Market Survey is the standard weekly national average, published each Thursday.
- Advertised rates assume strong credit, a substantial down payment, and often discount points.
- Compare APR, not the headline rate — APR folds in lender fees.
- Only a written Loan Estimate and a rate lock give you a rate you can rely on.
In this guide
Where today's rates are actually published
Primary sources for current US mortgage rates
| Source | What it publishes | Update frequency |
|---|---|---|
| Freddie Mac PMMS | National average 30-year and 15-year fixed | Weekly, Thursdays |
| FRED (MORTGAGE30US) | The same survey plus full history | Weekly, with archive |
| Individual lender rate sheets | Product-specific offers | Daily, sometimes intraday |
| Your own Loan Estimate | Your rate and fees, in writing | Per application |
Why your quote differs from the headline average
- Credit score: pricing tiers step up as scores fall.
- Loan-to-value: a smaller down payment usually costs more in rate or insurance.
- Loan type and term: 15-year, ARM, FHA, VA, and jumbo all price differently.
- Points: advertised rates often assume you have bought the rate down.
- Property use: second homes and investment properties price above primary residences.
- Loan size: above the conforming limit, jumbo pricing applies.
Rate versus APR
The interest rate determines your principal-and-interest payment. APR expresses the rate plus most lender fees as a single annualised cost, which makes two offers comparable. A low rate paired with heavy origination fees will show a noticeably higher APR.
What a rate change costs you
Monthly principal and interest on a $350,000, 30-year loan
| Rate | Monthly P&I | Total interest over 30 years |
|---|---|---|
| 5.5% | $1,987 | $365,320 |
| 6.0% | $2,098 | $405,280 |
| 6.5% | $2,212 | $446,428 |
| 7.0% | $2,329 | $488,440 |
Figures rounded, principal and interest only. Test your own numbers with the mortgage payment calculator.
Locking a rate
- Get written Loan Estimates from several lenders on the same day — rates move, so same-day comparison matters.
- Check the lock period and whether an extension carries a fee.
- Ask whether a float-down option exists if rates fall before closing.
- Confirm what invalidates the lock, such as a change in loan amount or property.
Sources
- 01Freddie Mac — Primary Mortgage Market Survey
Weekly national average mortgage rate survey, published every Thursday.
- 02FRED, Federal Reserve Bank of St. Louis — 30-year fixed rate mortgage average
Historical series of the national average 30-year fixed mortgage rate.
- 03Consumer Financial Protection Bureau — mortgage guidance and Ability-to-Repay rule
Federal consumer guidance on mortgages, disclosures, and lender underwriting obligations.
Frequently asked questions
What are mortgage rates today?
Check Freddie Mac's Primary Mortgage Market Survey for the current weekly national average, and request Loan Estimates from lenders for your own rate. Rates change daily and vary by credit profile, loan type, and region.
Will mortgage rates go down?
Nobody can tell you reliably. Mortgage pricing tracks long-term bond yields and lender margins, both of which move with data releases and policy expectations. Treat any forecast as an opinion.
Should I buy discount points?
It depends on how long you keep the loan. Divide the cost of the points by the monthly saving to get the break-even in months; if you expect to sell or refinance before then, points cost you money.
Editorial transparency
- Written by
- Michael Bennett — Mortgage writer — home financing, refinancing and interest rates
- Reviewed by
- Legamoney Mortgage & Lending Desk — Editorial desk — mortgages, home equity, and consumer credit
- How this was researched
- We deliberately do not publish a live rate figure. This guide points at the primary weekly and daily sources instead, because any number quoted in an article is stale within days.
- Corrections
- Spotted an error? Tell us and we will correct and re-date the page. See our editorial policy.
- Advertising disclosure
- Ad placements are clearly labelled and never influence editorial judgement or the ordering of comparisons.
About the author
Michael Bennett writes Legamoney's mortgage coverage: payment and amortisation maths, refinancing decisions, preapproval and underwriting, home equity and reverse mortgages. He works from HUD programme handbooks, CFPB rules under TILA and Regulation Z, and the FHFA conforming loan limits, and links to the weekly Freddie Mac survey rather than quoting a fixed rate. He works with the Legamoney Mortgage & Lending Desk.
How this article was checked
- Every factual claim is traced to a named regulator, government agency, or the provider's own published terms before publication.
- Figures that change — rates, limits, thresholds — link to the primary source that publishes them rather than being quoted as a fixed number.
- Worked examples are shown as full arithmetic so a reader can reproduce the result independently.
- Each guide is checked by the owning editorial desk before it is published, and again whenever the underlying rules change.
Covers: Mortgage payment and amortisation maths · Refinancing, break-even and closing costs · Preapproval, underwriting and affordability · Home equity, HELOCs and reverse mortgages
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Disclaimer
Rate data is published by third parties and changes constantly. Nothing here is a rate quote or a prediction. Confirm current pricing directly with lenders. Consult a qualified professional before acting on any information here. Read our full disclaimer.
