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CURRENT MORTGAGE RATES

Mortgage rates can change throughout the day and vary based on the borrower, property, loan program, and transaction.

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Review current national rate trends below, then request a personalized mortgage estimate based on your financing goals. The rates shown below are market averages or rate-index information—not a personalized quote or an offer to lend. Your available rate and loan terms may differ based on your complete application and selected program.

Mortgage rates are only one part of a loan comparison. Points, lender credits, mortgage insurance, closing costs, loan term, and required cash at closing can materially affect the complete financing structure.

WHAT AFFECTS YOUR MORTGAGE RATE?

Credit Profile: Credit scores, mortgage-payment history, and recent credit events may affect available pricing and program eligibility.

Loan Type: Conventional, FHA, VA, USDA, jumbo, Non-QM, and investment-property loans may have different pricing structures.

Down Payment or Equity: The loan-to-value ratio may influence the interest rate, mortgage insurance, fees, and available loan programs.

Property and Occupancy: Pricing may vary for primary residences, second homes, investment properties, condominiums, multifamily homes, and other property types.

Loan Amount and Term: Conforming, high-balance, and jumbo loan amounts may price differently. Fifteen-, twenty-, and thirty-year terms may also produce different payments and rates.

Points and Lender Credits: A borrower may pay discount points for a lower rate or accept a higher rate in exchange for eligible lender credits toward closing costs.

RATE VERSUS APR

Interest Rate: The interest rate is used to calculate the principal-and-interest portion of the mortgage payment.

Annual Percentage Rate: APR is intended to reflect the interest rate plus certain finance charges over the scheduled loan term. It can help compare loan costs, but it does not represent the monthly payment and may not capture every financial consideration.

Compare both the rate and the estimated cash-to-close rather than choosing a loan from the advertised rate alone.

SHOULD YOU PAY POINTS?

A discount point is an upfront cost paid in exchange for a lower mortgage rate. Whether paying points makes sense depends on:

Simple Illustration: If paying additional points costs $4,000 and reduces the monthly payment by $100, the basic break-even period would be approximately 40 months. This is only a simplified example. The complete comparison should include loan terms, tax considerations, opportunity cost, and the borrower's expected time in the mortgage.

The upfront cost
The monthly payment reduction
The estimated break-even period
How long you expect to keep the mortgage
Whether the funds could be better used for the down payment, reserves, or other expenses

WHEN SHOULD YOU LOCK YOUR RATE?

A rate lock generally protects an approved interest rate for a specified period while the loan moves toward closing. Lock availability and cost may depend on:

A longer lock period may cost more than a shorter lock. Some programs may also offer extension, float-down, or relock options, subject to specific terms.

Loan program
Property status
Closing timeline
Lock period
Market conditions
Lender requirements

GET A RATE ESTIMATE BUILT AROUND YOUR SCENARIO

Online rate tables cannot account for your complete financial situation. I can help you compare available loan programs, estimated rates, points, lender credits, monthly payments, mortgage insurance, and cash needed at closing.

Rates, terms, APRs, payments, credits, fees, and program availability may change without notice. Displayed market information is for educational purposes and is not a commitment to lend or a personalized loan estimate. A complete application and review are required.

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Frequently Asked Questions

Not necessarily. The displayed information reflects general market trends or national rate data. Your available pricing depends on your credit, income, assets, property, occupancy, loan amount, loan type, transaction, and other underwriting factors.

Mortgage pricing can change daily and may change more than once during a single business day. A rate is generally not protected until it has been formally locked with the lender.

A preliminary conversation or estimate may not require a hard credit inquiry. A complete preapproval or formal loan application may require credit authorization. I will explain the process before credit is reviewed.

No. A very low rate may require significant discount points or higher upfront costs. The best option depends on the rate, payment, closing costs, available cash, and how long you expect to keep the loan.

The interest rate determines the principal-and-interest payment. APR includes the interest rate and certain finance charges to provide another way of comparing loan costs.

Potentially. A lower loan-to-value ratio may improve pricing or reduce mortgage-insurance costs, but the effect depends on the loan program, credit profile, property, and transaction.

Eligible borrowers may be able to pay discount points for a lower permanent rate. A seller, builder, or other permitted source may also fund an eligible temporary buydown or contribute toward allowable closing costs, subject to program limits.

The appropriate timing depends on your closing date, risk tolerance, market conditions, and available lock options. A rate should not be considered locked until you receive confirmation from the lender.

A locked rate is generally protected for the approved lock period, provided the transaction and application information remain consistent. Changes to the loan amount, property, occupancy, credit, appraisal, closing date, or other factors may affect the lock or pricing.

They can. Pricing may vary based on whether the transaction is a purchase, rate-and-term refinance, or cash-out refinance, as well as the occupancy, property, equity, credit, and selected program.

Have questions about mortgage rates today?

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