Current Mortgage Rates

Mortgage rates are influenced by several factors including the Federal Reserve's monetary policy, economic conditions, inflation, and the bond market. Your individual rate is also affected by your credit score, down payment, loan type, and property details.

The interest rate is the cost you pay each year to borrow the money, expressed as a percentage. APR (Annual Percentage Rate) includes the interest rate plus points, fees, and other charges, giving you a more complete picture of the loan's true cost.

Rate locks protect you from market increases during the loan process. If rates are favorable, locking can save you money. Typically, locks last 30-60 days. Your loan officer can advise on the best strategy for your situation.

Mortgage rates can change daily, sometimes multiple times per day, in response to economic data, Federal Reserve announcements, and market conditions. The rates shown on our site are updated regularly but may not reflect real-time market changes.

Generally, credit scores of 740 or higher qualify for the best mortgage rates. However, there are loan options available for various credit situations. FHA loans may accept scores as low as 580 with a 3.5% down payment.