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 | 6.43% | 6.40% | 6.82% | 6.45% | 6.09% |
| 15 years | 5.73% | 5.70% | 5.98% | 5.70% | 5.45% |
| 30 year jumbo | 6.51% | 6.51% | 6.79% | 6.53% | 6.22% |
The average total of discount points and origination points for 30-year fixed mortgages in this week’s study was 0.38 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.
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Monthly mortgage payment at current interest rate
According to the U.S. Department of Housing and Urban Development, the national median household income in 2026 was $106,800, and the median price of existing homes sold in March 2026 was $408,800, according to the National Association of Realtors. Based on a 20% down payment and a 6.43% mortgage rate, a monthly principal and interest payment of $2,052 would equal 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, according to the S&P Cotality Case-Shiller Index released on April 28, home prices nationwide rose only 0.7% over the past year. This was the weakest growth since 2011, when prices fell 3.9%.
“More than half of major U.S. metropolitan markets recorded year-over-year price declines in February, showing that the housing downturn has extended far beyond its Sunbelt origins,” said Nicholas Godek of S&P Dow Jones Indices.
What will happen to mortgage rates for the rest of 2026?
The Fed chose to keep its benchmark interest rate unchanged at its most recent meeting. Rising inflation is the main driver of rising mortgage rates. Amid the Iran conflict, oil prices have soared, and mortgage rates have risen from their 2026 low of 6.09%.
“The spring housing market will be characterized by a reset of expectations,” said Lisa Sturtevant, chief economist at Bright MLS, a leading listing service in the Mid-Atlantic region. “Buyers and sellers alike have accepted that mortgage rates will continue to exceed 6%.”