Where do these mortgage rates come from?

Rates are sourced from the Freddie Mac Primary Mortgage Market Survey (PMMS), published weekly via the Federal Reserve Economic Data (FRED) database. Each metric card shows the observation date and source link.

What are 30-year mortgage rates today?

The latest 30-year fixed benchmark appears in the metric card above, updated on PMMS’s weekly schedule. It is a market average — your lender quote may differ based on credit, down payment, and loan structure.

What are 15-year mortgage rates today?

The latest 15-year fixed benchmark is shown alongside the 30-year rate. Fifteen-year rates are often lower but require higher monthly principal and interest payments on the same loan amount.

Why do mortgage rates change every week?

Mortgage rates follow bond markets, inflation expectations, economic data, and Fed policy. PMMS publishes weekly averages so you can track direction on the chart above.

Should I wait for rates to drop before buying?

Timing the market is difficult. Use the mortgage calculator to model payments at different rates and focus on what fits your budget, planned length of stay, and overall financial plan.

Mortgage Rates Today: 30-Year & 15-Year Trends

30-year vs 15-year mortgage rates

The 30-year fixed rate is the most widely quoted benchmark for long-term home loans. The 15-year fixed rate applies to shorter amortization — monthly payments are higher, but total interest is usually much lower.

15-year rates are typically below 30-year rates by roughly 0.25 to 0.75 percentage points, though the gap varies week to week. Compare both benchmarks above, then run your lender quotes through the mortgage calculator.

Market rate vs your actual rate

PMMS averages are survey benchmarks — not a guaranteed offer for every borrower. Your quoted rate depends on credit score, down payment, loan type, points, property type, and lender margins.

Use benchmark rates to track market direction and stress-test payments. When you are ready to shop, request Loan Estimates from lenders for numbers that reflect your profile.

What moves mortgage rates

Mortgage rates follow broader bond markets (especially the 10-year Treasury yield), inflation data, employment reports, and Federal Reserve policy expectations. Lender capacity and seasonality can add short-term noise.

A weekly move of a few basis points is normal. Focus on how a rate change affects your monthly payment and long-term interest — especially if you are choosing between a 15-year and 30-year term.

How rates affect monthly payments

Higher rates raise principal and interest on the same loan amount. Even a half-point change can add hundreds of dollars per month on a typical purchase price. Taxes, insurance, and PMI are separate but still part of total housing cost.

Run today’s benchmark rates through the mortgage calculator to model payment impact. If you already own, see whether a lower rate could justify a refinance after closing costs.

What are mortgage rates today?

The latest 30-year and 15-year fixed benchmarks appear in the metric cards above, sourced from Freddie Mac PMMS via FRED. Each card shows the observation date — PMMS publishes weekly averages, not daily individual lender quotes.

Use these benchmarks to track market direction. When you are ready to shop, request Loan Estimates from lenders for rates that reflect your credit, down payment, and loan structure.

What determines the mortgage rate a borrower receives?

Your quoted rate depends on credit score, down payment, loan type, loan term, points, property type, occupancy, and lender pricing. Benchmark averages summarize the market — they are not a guaranteed offer for every borrower.

Debt-to-income ratio, reserves, and market conditions at lock also matter. Compare multiple Loan Estimates on the same day when possible.

How should someone use benchmark mortgage rates?

Use benchmarks to understand market direction, stress-test payments in the mortgage calculator, and compare 15-year vs 30-year tradeoffs. Pair rate context with our mortgage payment guide when you need a full monthly housing estimate including taxes, insurance, and PMI.

Do not delay a well-timed purchase solely to chase a small weekly move — focus on affordability, planned length of stay, and a rate you can live with after closing costs.

30-Year Mortgage Rate

+0.08% vs prior

7.03%

Drives monthly payments and home affordability for most buyers.

15-Year Mortgage Rate

+0.16% vs prior

6.42%

Useful for refinance and faster payoff comparisons.

Mortgage rates — last 12 months

30-yr (7.03%)
15-yr (6.42%)

Run rates through the Mortgage Calculator

Common Questions

Where do these mortgage rates come from?: Rates are sourced from the Freddie Mac Primary Mortgage Market Survey (PMMS), published weekly via the Federal Reserve Economic Data (FRED) database. Each metric card shows the observation date and source link.
What are 30-year mortgage rates today?: The latest 30-year fixed benchmark appears in the metric card above, updated on PMMS’s weekly schedule. It is a market average — your lender quote may differ based on credit, down payment, and loan structure.
What are 15-year mortgage rates today?: The latest 15-year fixed benchmark is shown alongside the 30-year rate. Fifteen-year rates are often lower but require higher monthly principal and interest payments on the same loan amount.
Why do mortgage rates change every week?: Mortgage rates follow bond markets, inflation expectations, economic data, and Fed policy. PMMS publishes weekly averages so you can track direction on the chart above.
Should I wait for rates to drop before buying?: Timing the market is difficult. Use the mortgage calculator to model payments at different rates and focus on what fits your budget, planned length of stay, and overall financial plan.