Image courtesy: PM Images/Getty Images;Illustration: Hunter Newton/Bankrate
current mortgage interest rate
| Loan type | the current | 4 weeks ago | 1 year ago | 52 week average | 52 week low |
|---|---|---|---|---|---|
| 30 years | 6.27% | 6.10% | 6.76% | 6.50% | 6.09% |
| 15 years | 5.60% | 5.45% | 6.01% | 5.74% | 5.45% |
| 30 year jumbo | 6.36% | 6.22% | 6.87% | 6.58% | 6.22% |
The average total of discount points and origination points for 30-year fixed mortgages in this week’s study was 0.33 points. Discount points are a way to lower your mortgage interest rate, and starting points are fees charged by lenders to originate, qualify, and process your loan.
Shop smartly for mortgage rates
Bankrate brings you the latest lender offers tailored to you. Find the lowest rate now.
Check home loan interest rates
Monthly mortgage payment at current interest rate
According to the U.S. Department of Housing and Urban Development, the national median household income in 2025 was $104,200 (2026 estimates have not yet been released), and the median price of existing homes sold in February 2026 was $398,000, according to the National Association of Realtors. Based on a 20% down payment and a 6.27% mortgage rate, a monthly principal and interest payment of $1,965 equates to about 23% of a typical family’s monthly income.
Meanwhile, home prices are starting to decline in many once-strong markets. Zillow reported in early February that half of the nation’s 50 largest metropolitan areas experienced price declines in the past year. Separately, the S&P Cotality Case-Shiller Index released on February 24 showed that national home price growth in 2025 will be just 1.3%. This was the weakest result since 2011, when prices fell 3.9%.
“With more home inventory available online and home prices starting to level off, it remains a promising environment for those looking to buy or refinance,” said Sameer Dedia, CEO of One Real Mortgage.
What will happen to mortgage rates for the rest of 2026?
As expected, the Fed chose to keep its benchmark interest rate unchanged at its March 18 meeting. The Fed also released a summary of its latest economic outlook and signaled one more rate cut before the end of the year. However, rising inflation could change the situation.
“Mortgage rates have risen by about a quarter of a percentage point in recent weeks as long-term rates factor in higher inflation and the lower likelihood of further Fed rate cuts this year,” Mike Fratantoni, chief economist at the Mortgage Bankers Association, said in a statement. “We expect mortgage rates to be in the 6% to 6.5% range this year, with the latest weekly data showing a trend towards the higher end of that range.”