Current Mortgage Interest Rates

Mortgage interest rates change daily. Keep up with current rates to make the best decision on your home mortgage.

*Average rates from a lender survey of 100+ lenders as reported by Freddie Mac PMMS. Fees and points vary. These are average rates only and intended to give a snapshot of overall market movements, not specifically available rates. For a personalized rate quote click here.

Mortgage Rates Jump To Highest Levels of 2018

After weeks of fluctuating around the same level, mortgage rates have finally started to break away.

Over the past week, mortgage rates increased to 4.47%, the highest rates have been this year and the highest level since the beginning of 2014.

In reality, mortgage rates only increased by five basis points (0.05%) since the previous week, which isn’t a huge leap. However, it was enough to push rates high enough to set a new record for the year.

Over the past few months, mortgage rates have been hovering around the 4.40% level. If there were any weekly changes, they were by small amounts, and were usually erased in the following weeks.

But now mortgage rates seems to have broken out. On top of being the highest rates so far this year, current rates are 50 basis points (0.50%) higher than mortgage rates were at this time last year.

Higher mortgage rates are to be expected when the economy is growing. According to the Federal Reserve, the economy is doing just fine, nearly all across the board. Growing fears over trade is perhaps the only thing causing concern.

Issues over trade and tariffs have kept mortgage rates lower than they might be, so home buyers can almost be thankful for that.

As trade disputes start to settle out, don’t be surprised if mortgage rates jump even higher. Mortgage rates are still relatively low, but they won’t stay that way forever.

Click to see today’s rates.

Freddie Mac Reports Current Rates

Each week, Freddie Mac surveys over 100 lenders across the nation to determine a rate average. Because their reported rate is an average, rates that are available to you may end up being lower than those reported.

Over the past week, Freddie Mac reported that the 30-year fixed rate mortgage increased to 4.47%, up five basis points from the previous week.

After consecutive weeks of decreasing, mortgage rates have now increased for the second straight week. If today’s trends are anything like last year’s, however, we could be in for dropping rates any time now.

Along with the 30-year fixed rate mortgage, Freddie Mac reports on the 15-year fixed rate mortgage and the 5-year adjustable rate mortgage (ARM).

Freddie Mac reported that the 15-year fixed rate also increased over the past week. Currently, the 15-year fixed rate mortgage averages 3.94%.

The five-year ARM increased as well over the past week. The five-year ARM is currently averaging 3.67%.

All three rates tracked by Freddie Mac increased together for the first time in weeks. This could be a sign that mortgage rates are set to increase next week as well, and possibly further down the road. If that’s the case, then home buyers may want to lock in on rates while they’re still lower.

Check current mortgage rates.

Your Mortgage Strategy

While trade disputes are the main concerns for most businesses and investors, there is a lot more positive economic news than negative.

A consequence of a strong economy is higher rates across the board. Mortgage rates fall under this category, so rising rates are due in large part to a growing economy.

Also, there are no signs that the economy’s growth is going to slow down any time soon. Home buyers should prepare themselves for higher mortgage rates.

For anyone following mortgage rates, it is worth noting that rates do change every week. While the economy might continue to grow, one piece of economic news can cause a sudden dip in rates.

At the same time, news can suddenly force mortgage rates higher, much like how President Trump taking office and the New Year sent mortgage rates much higher.

Home buyers and mortgage rate shoppers shouldn’t let mortgage rates dictate their strategy. Instead, finding the right home should be the most important step. After that, they should try to find the best rates possible.

Click to check today’s rates.

Current Rates

Because Freddie Mac’s report covers mortgage rates from the previous week, mortgage rates today could be different.

Rates change every day, and they change throughout the day. The best way to find out what current rates are is to see what rates are available to you.

Click/ to see current mortgage rates.