Mortgage Rate Estimator: What Mortgage Rate Could I Get?

How this estimate works

1. We start with the market. Every week, Freddie Mac surveys lenders and publishes average mortgage rates for well-qualified borrowers. That is our starting point.
2. We update it for what has happened since. Mortgage rates tend to follow the 10-year Treasury yield, which changes every day. We add most of any move since the survey.
3. We adjust for your situation. Lenders charge more for lower credit scores, smaller down payments, cash-out refinances, second homes, and investment properties. We use typical adjustments based on Fannie Mae’s published loan-level price adjustments, and approximations for some combinations.
4. We show a range. No one can know your exact rate without your application, so we show a range around our best estimate.

What this estimate leaves out

• Discount points, lender credits, and fees, which change the rate you are offered.
• Your rate lock and the day you lock. Rates can move during the day.
• FHA, VA, USDA, jumbo, and adjustable-rate loans, which are priced differently.
• Mortgage insurance, which adds to your monthly payment but is not part of the rate.
• Differences between lenders. Two lenders can quote different rates for the same borrower on the same day.

How to find your real rate

The only way to know is to ask lenders. Get quotes from two or three of them, ideally within the same few days, and compare their Loan Estimates, not just the rates.

Common questions about mortgage rates

What is the mortgage interest rate today?

There is no single mortgage rate. Rates depend on the loan type, the term, your credit score, your down payment, and the lender. The most widely cited benchmark is Freddie Mac’s weekly average for a 30-year fixed-rate mortgage, which reflects what well-qualified borrowers are being offered. The latest number is shown at the top of this page. Use the estimator above to see how your own situation could change it.

What mortgage rate can I get with my credit score?

Lenders charge more as credit scores fall and as down payments shrink, so a higher score generally means a lower rate. The table above shows how the estimate changes at each credit score for the loan you entered. Most conventional loans require a score of at least 620.

What are discount points?

Discount points are a fee you pay at closing to lower your interest rate. One point costs 1% of your loan amount and usually lowers the rate by about 0.25%, though it varies by lender. Try the discount points option in the estimator or the discount points calculator, and read what discount points are and how they work.

What affects mortgage interest rates?

Mortgage rates tend to follow the 10-year Treasury yield, which moves with inflation, the economy, the Federal Reserve, and world events. On top of that, each lender adds its own margin, and your rate is adjusted for your credit score, down payment, loan purpose, and property type.

Do mortgage rates change every day?

Yes. Lenders can change their rates every day, and sometimes more than once a day. Freddie Mac’s survey is published weekly, so this estimator also adjusts for how the 10-year Treasury yield has moved since the latest survey.

Is a 15-year or 30-year mortgage rate lower?

A 15-year mortgage usually has a lower interest rate than a 30-year mortgage, but a higher monthly payment, because you pay the loan off in half the time. Switch the loan term in the estimator to compare.

What is the difference between the interest rate and the APR?

The interest rate is the cost of borrowing the money. The APR also includes certain lender fees and costs, shown as a yearly rate, so it is usually higher. To find both on a real offer, see how to read a Loan Estimate.

How accurate is this mortgage rate estimator?

It is for estimation only. It uses current market averages and typical lender adjustments, but it cannot account for world events, your full application, or each lender’s own guidelines and pricing. For a real rate, get quotes from two or three lenders.

Sources: Freddie Mac, Primary Mortgage Market Survey® (30-Year and 15-Year Fixed Rate Mortgage Averages), and the Board of Governors of the Federal Reserve System, 10-Year Treasury Constant Maturity Rate and Bank Prime Loan Rate, retrieved from FRED®, Federal Reserve Bank of St. Louis. When the U.S. Department of the Treasury has posted a newer day’s 10-year rate (Daily Treasury Par Yield Curve Rates), that rate is used. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. Primary Mortgage Market Survey is a registered trademark of Freddie Mac. Fannie Mae loan-level price adjustments are published by Fannie Mae. Conforming loan limits are from the Federal Housing Finance Agency (2026).