Current Mortgage Rates as of May 21st, 2021

Current mortgage and refinance rates

Product Interest rate APR
30-year fixed-rate 2.957% 3.017%
20-year fixed-rate 2.649% 2.730%
15-year fixed-rate 2.113% 2.210%
10-year fixed-rate 2.104% 2.232%
7/1 ARM 2.311% 2.963%
5/1 ARM 2.240% 3.062%
30-year fixed-rate FHA 2.313% 2.989%
30-year fixed-rate VA 2.567% 2.786%

Data source: ©Zillow, Inc. 2006 – 2020. Use is subject to the Terms of Use

On May 21st, 2021, the average APR on a 30-year fixed-rate mortgage rose 1 basis point to 3.017%. The average APR on a 15-year fixed-rate mortgage remained at 2.210% and the average APR for a 5/1 adjustable-rate mortgage (ARM) remained at 3.062%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 2 basis points lower than one week ago and 60 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.