Mortgage Rates Today: What You Need to Know

Current Mortgage Rate Snapshot

Mortgage rates change frequently, influenced by market conditions and economic factors. The numbers below reflect recent averages from trusted sources, but they are not offers and do not represent a specific lender's rates.

Meanwhile, LendingTree's partner network reported average rates of 6.70% for a 30-year fixed and 5.75% for a 15-year fixed mortgage on the same date. These figures give you a sense of the current market, but your own rate will depend on your financial profile and the lender you choose.

Sources: The Wall Street Journal, LendingTree

Average Rates by Loan Type

Mortgage rates differ by loan term and type. The table below compares average rates for 30-year and 15-year fixed-rate mortgages from different sources, as well as typical ranges from the Consumer Financial Protection Bureau (CFPB) data collected in April 2025.

Remember that the CFPB figures are illustrative and based on a borrower with a 700 credit score, 10% down payment, and a conventional loan. Your rate may vary significantly.

Sources: The Wall Street Journal, LendingTree, Consumer Financial Protection Bureau

Factors Influencing Rates

Several key factors determine the mortgage rate you're offered. Understanding these can help you plan your home purchase or refinance.

• Credit score: Lenders reward higher scores with lower rates. • Down payment: A larger down payment often results in a better rate. • Loan type: Conventional, FHA, VA, and USDA loans have different rate structures. • Loan term: Shorter terms generally have lower rates. • Occupancy: Rates for primary residences are typically lower than for investment properties.

Beyond your personal profile, broad economic conditions also play a role. Inflation, Treasury bond yields, Federal Reserve monetary policy, and the overall housing market all influence where mortgage rates are headed. These forces are largely beyond your control, but being aware of them helps you understand why rates move up and down.

• Personal factors: credit score, down payment size, loan type, loan term, and occupancy.
• Economic factors: inflation, Treasury bond yields, Federal Reserve policy, and housing market conditions.

Sources: Consumer Financial Protection Bureau, Union Home Mortgage

How to Get Personalized Rates

The rates in this article are averages and may not reflect what you'll be offered. Your rate depends on your unique financial situation, including your credit history, income, debt-to-income ratio, and the property you're buying or refinancing.

To find the best rate for you, it's wise to shop around. The Consumer Financial Protection Bureau recommends obtaining Loan Estimates from multiple lenders. Comparing Loan Estimates side by side can help you see which offer is truly best, factoring in not just the interest rate but also fees and closing costs.

Contact several mortgage lenders, including Union Home Mortgage, to get personalized quotes. Be prepared to share your financial details so they can provide accurate rate estimates. A small difference in rate can lead to significant savings over the life of the loan.

• Check with at least three different lenders.
• Compare Loan Estimates, not just interest rates.
• Consider the same loan type and term for an apples-to-apples comparison.
• Ask about rate lock options.

Sources: Consumer Financial Protection Bureau

Rate Lock Considerations

The decision to lock or float depends on your expectations for future rate movements and your comfort with risk. Your loan officer can help you weigh the options based on current market conditions and your timeline.

Sources: Union Home Mortgage

Important Disclaimers

The rates provided in this article are for informational purposes only and are not guaranteed. They are based on data from the cited sources as of the dates shown and may have changed since publication.

Freddie Mac's weekly averages are national figures and do not represent a specific lender's rates. LendingTree's averages come from its partner network and may not be typical of the entire market. The CFPB's rate ranges are based on data from April 1, 2025, and may not reflect current conditions.

Your actual rate will depend on your creditworthiness, loan details, and the lender you choose. To obtain a personalized quote, contact a mortgage professional directly. Union Home Mortgage's current rates for specific loan types were not publicly available in the research used for this page; only its 2024 average USDA rate (6.50%) was identified from HMDA data. For the most accurate and up-to-date information, always speak with a lender.

Sources: Consumer Financial Protection Bureau, The Wall Street Journal, LendingTree, The Mortgage Reports