Current Mortgage Rates for 10/12/2021

Current mortgage and refinance rates

Accurate as of 10/12/2021.

Product Interest rate APR
30-year fixed-rate 3.048% 3.107%
20-year fixed-rate 2.633% 2.721%
15-year fixed-rate 2.115% 2.229%
10-year fixed-rate 2.052% 2.190%
7/1 ARM 2.545% 3.129%
5/1 ARM 2.417% 3.235%
3/1 ARM 2.917% 3.555%
30-year fixed-rate FHA 2.409% 3.140%
30-year fixed-rate VA 2.700% 2.950%

On Tuesday, October 12th, 2021, the average APR on a 30-year fixed-rate mortgage rose 5 basis points to 3.107%. The average APR on a 15-year fixed-rate mortgage remained at 2.229% and the average APR for a 5/1 adjustable-rate mortgage (ARM) rose 4 basis points to 3.235%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 13 basis points higher than one week ago and 15 basis points lower than one year ago.

A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR.