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.