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Current 10/1 arm rates
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About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our "Advertisers"). Other lenders' terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a "Next" button that can be used to click-through to the Advertiser's own website or a phone number for the Advertiser.
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Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertisers phone number when you click-through to their website. In addition, credit unions may require membership.
Loans Above $548,250 May Have Different Loan Terms: If you are seeking a loan for more than $548,250, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.
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Today's 10/1 ARM loan rates
Lenders nationwide provide weekday mortgage rates to our comprehensive national survey to bring you the most current rates available. Here you can see the latest marketplace average rates for a wide variety of purchase loans. The interest rate table below is updated daily to give you the most current purchase rates when choosing a home loan. APRs and rates are based on no existing relationship or automatic payments. For these averages, the customer profile includes a 740 FICO score and a single family residence. To learn more, see understanding Bankrate rate averages.
Rates as of Thursday, May 26, 2022 at 6:30 AM
Adjustable-rate mortgages may not have the same popularity they did a decade or two ago. Fixed-rate loans are much more competitive now thanks to historically low interest rates across the board, but they can still be the right fit for some borrowers. If you’re considering an ARM, here are the key things to know.
What is a 10/1 ARM loan?
The name tells you basically everything you need to know, and here’s how to read it: The number before the slash is the period that your interest rate is fixed, and the number after the slash is how often the interest rate changes after that. So, 10/1 means your rate is fixed for the first 10 years, and then adjusts once every year after that.
How does a 10/1 ARM work?
Adjustable-rate mortgages usually start with lower interest rates than their fixed-rate counterparts, so they can enable homeowners to qualify for a bigger loan because the payments will be less, at least in the beginning. Because 10/1 ARM will begin to see annual adjustments to the interest rate after 10 years, you’ll want to make sure you understand the changes that are coming after the first decade. When the adjustments start, may see a jump in how much interest accrues, how much you owe and how much you have to pay every month.
>>Read more about choosing between a ARM and a fixed-rate mortgage
When should you consider a 10/1 ARM?
Adjustable-rate mortgages are usually best for people who are only planning to hold them for the initial term. So, if you’re looking to move within 10 years, or know you’ll be able to refinance to lock in your interest rate in that time, a 10/1 ARM could be the right mortgage for you.
>>Use Bankrate's ARM vs. fixed-rate mortgage calculator to see which type of mortgage works best for you
Learn more about adjustable-rate mortgages
- Adjustable-rate mortgage resources
- ARM calculator
- ARM refinance rates
- Should you refinance your ARM into a fixed-rate mortgage?
Written by: Zach Wichter, mortgage reporter for Bankrate
Zach Wichter is a mortgage reporter at Bankrate. He previously worked on the Business desk at The New York Times where he won a Loeb Award for breaking news, and covered aviation for The Points Guy.
| Loan Type | Purchase Rates | Refinance Rates |
|---|---|---|
| The table above links out to loan-specific content to help you learn more about rates by loan type. | ||
| 30-Year Loan | 30-Year Mortgage Rates | 30-Year Refinance Rates |
| 20-Year Loan | 20-Year Mortgage Rates | 20-Year Refinance Rates |
| 15-Year Loan | 15-Year Mortgage Rates | 15-Year Refinance Rates |
| 10-Year Loan | 10-Year Mortgage Rates | 10-Year Refinance Rates |
| FHA Loan | FHA Mortgage Rates | FHA Refinance Rates |
| 30-Year FHA Loan | 30-Year FHA Loan Rates | 30-Year FHA Refinance Rates |
| VA Loan | VA Mortgage Rates | VA Refinance Rates |
| ARM Loan | ARM Mortgage Rates | ARM Refinance Rates |
| 3/1 ARM | 3/1 ARM Rates | 3/1 Refinance Rates |
| 5/1 ARM | 5/1 ARM Rates | 5/1 Refinance Rates |
| 7/1 ARM | 7/1 ARM Rates | 7/1 Refinance Rates |
| 10/1 ARM | 10/1 ARM Rates | 10/1 Refinance Rates |
| Jumbo Loan | Jumbo Mortgage Rates | Jumbo Refinance Rates |
| 30-Year Jumbo Loan | 30-Year Jumbo Loan Rates | 30-Year Jumbo Refinance Rates |
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Related Links
- 30-year mortgage rates
- 20-year mortgage rates
- 15-year mortgage rates
- 10-year mortgage rates
- VA loan rates
- FHA loan rates
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