Current Mortgage Rates
Compare 30-year fixed, 15-year fixed, and 5/1 ARM rates. Weekly data from Freddie Mac. Last updated 2026-04-03.
Rate History Comparison
| Date | 30-Year Fixed | 15-Year Fixed | 5/1 ARM | Spread (30Y - ARM) |
|---|---|---|---|---|
| 2026-04-03 | 6.64% | 5.89% | 6.17% | 0.47pp |
| 2026-03-27 | 6.67% | 5.92% | 6.22% | 0.45pp |
| 2026-03-06 | 6.65% | 5.89% | 6.22% | 0.43pp |
| 2026-02-06 | 6.89% | 6.05% | 6.41% | 0.48pp |
| 2026-01-30 | 6.95% | 6.12% | 6.49% | 0.46pp |
| 2026-01-02 | 6.91% | 6.14% | 6.54% | 0.37pp |
| 2025-12-05 | 6.69% | 5.96% | 6.32% | 0.37pp |
| 2025-11-06 | 6.79% | 5.99% | 6.38% | 0.41pp |
| 2025-10-02 | 6.12% | 5.25% | 5.64% | 0.48pp |
Monthly Payment Comparison
Based on a $400,000 loan with 20% down payment. Actual payments depend on credit score, down payment, loan size, and lender fees.
| Product | Rate | Monthly Payment | Total Interest | Total Cost |
|---|---|---|---|---|
| 30-Year Fixed | 6.64% | $2,565 | $523,476 | $923,476 |
| 15-Year Fixed | 5.89% | $3,352 | $203,306 | $603,306 |
| 5/1 ARM | 6.17% | $2,442 | $479,154 | $879,154 |
Rate Context
Mortgage rates are influenced by these key benchmarks. The 10-year Treasury yield is the primary driver of fixed mortgage rates, while the fed funds rate more directly affects adjustable-rate products.
What Current Rates Mean for Business
At 6.64%, the 30-year fixed mortgage rate remains well above the sub-3% pandemic-era lows, creating a sustained “lock-in effect” where existing homeowners refuse to sell and give up their below-market rates. This suppresses existing home inventory and transaction volumes.
The spread between the 30-year fixed (6.64%) and the 5/1 ARM (6.17%) is currently 0.47 percentage points. A narrow spread (under 0.5pp) suggests that adjustable-rate mortgages offer limited benefit relative to the rate-adjustment risk they carry.
For executives in real estate, construction, financial services, and consumer goods, elevated mortgage rates mean: suppressed home sales, reduced housing starts, lower demand for home furnishings and renovation, and tighter margins for mortgage lenders. Companies with exposure to housing-sensitive revenue should monitor rate trends weekly.
Related Pages
Frequently Asked Questions
What are current mortgage rates today?
Mortgage rates are updated weekly from Freddie Mac's Primary Mortgage Market Survey. As of the latest data, the 30-year fixed rate, 15-year fixed rate, and 5/1 ARM rate are shown above with their week-over-week changes. Rates reflect averages for well-qualified borrowers with 20% down payments.
How do mortgage rates affect housing affordability?
A 1 percentage point increase in mortgage rates reduces purchasing power by roughly 10-12%. For example, at 6%, a buyer paying $2,500/month can afford about $417,000. At 7%, that same payment only covers $376,000 — a $41,000 reduction. Rates also create a "lock-in effect" where existing homeowners with low-rate mortgages refuse to sell, suppressing inventory.
Should I choose a fixed-rate or adjustable-rate mortgage?
Fixed-rate mortgages offer payment certainty for the life of the loan — choose these if you plan to stay long-term. Adjustable-rate mortgages (ARMs) start with a lower rate but adjust after the initial period. Choose an ARM if you plan to sell or refinance within 5-7 years, or if you expect rates to decline. When the spread between ARM and fixed rates is narrow (under 0.5%), the certainty of a fixed rate is usually worth the small premium.
What drives mortgage rate changes?
Mortgage rates are primarily driven by the 10-year Treasury yield, not the federal funds rate directly. When investors demand higher yields on government bonds (due to inflation expectations, fiscal policy, or global risk appetite), mortgage rates rise. The Fed funds rate affects short-term rates and ARMs more directly. Mortgage-backed security (MBS) demand, credit spreads, and housing market conditions also influence rates.
How often are mortgage rates updated on ExecPulse?
Mortgage rate data is updated weekly, matching Freddie Mac's Primary Mortgage Market Survey release schedule (typically Thursday mornings). The survey covers the 30-year fixed, 15-year fixed, and 5/1 adjustable-rate mortgage products.