Estimate the mortgage amount that best fits your budget.
Compare current 10-year mortgage rates
By Zach Wichter
On Friday, October 22, 2021, the national average 10-year fixed mortgage APR is 2.620%. The average 10-year refinance APR is 2.600%, according to Bankrate’s latest survey of the nation’s largest mortgage lenders.
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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.
Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.
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.
Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.
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How to use our mortgage rate table
The table above will show you estimated mortgage rates from different lenders, tailored to you. Fill out the fields above as accurately as possible so we can get a sense of where you live, what you’re looking to do and your financial situation. Based on the information provided, you will get custom quotes and be on your way to getting a new mortgage. This is an estimate; your actual rate will depend on a number of factors.
Today’s 10-year mortgage rates
The table below brings together a comprehensive national survey of mortgage lenders to help you know what are the most competitive mortgage interest rates. This interest rate table is updated daily to give you the most current rate when choosing a mortgage home loan.
|10-Year Fixed Rate||2.430%||2.620%|
|15-Year Fixed Rate||2.460%||2.700%|
|20-Year Fixed Rate||3.040%||3.200%|
|30-Year Fixed Rate||3.180%||3.350%|
|30-Year Fixed-Rate VA||2.820%||2.990%|
|30-Year Fixed-Rate FHA||2.720%||3.590%|
|30-Year Fixed-Rate Jumbo||3.180%||3.280%|
|15-Year Fixed-Rate Jumbo||2.460%||2.530%|
|7/1 ARM Jumbo||3.090%||3.660%|
|5/1 ARM Jumbo||2.950%||3.600%|
Rates as of Friday, October 22, 2021 at 6:30 AM
How Bankrate mortgage rates are calculated
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.
Why trust Bankrate?
Bankrate has been the authority in personal finance since it was founded in 1976 as the “Bank Rate Monitor,” a print publication for the banking industry. Bankrate has been surveying and collecting mortgage rate information from the nation’s largest lenders for more than 30 years. Hundreds of top publications, such as The New York Times, Wall Street Journal, CNBC and others, depend on Bankrate as a trusted source of financial information, so you know you’re getting information you can trust.
Top 5 Bankrate 10-year mortgage lenders
- Third Federal Savings and Loan – Best bank lender
- Cardinal Financial Company – Best non-bank lender
- Fairway Independent Mortgage Corporation – Best overall
- First Mortgage Direct – Best no-fee lender
- HSBC Bank – Best for refinancing
Bankrate helps thousands of borrowers find mortgage and refinance lenders every day. To determine the top mortgage lenders, we analyzed proprietary data across more than 150 lenders to assess which on our platform received the most inquiries within a three-month period. We then assigned superlatives based on factors such as fees, products offered, convenience and other criteria. These top lenders are updated regularly.
Third Federal Savings and Loan – Best bank lender
Third Federal Savings and Loan Association is a bank and lender in 25 states and Washington, D.C., with branch locations in Ohio (where it was founded) and Florida. The bank offers mortgage products including fixed- and adjustable-rate loans, 10-year loans, jumbo loans and bridge loans.
Strengths: Borrowers can find 10-year and other mortgage rates updated on Third Federal’s website daily, including for the bank’s 10-year low-cost loan, which costs just $295. The bank also offers a $1,000 rate guarantee and free 60-day rate lock (with an additional 60-day lock or extended 240-day lock, if needed). Third Federal also services all of its loans, so your mortgage will be originated and managed by the same entity.
Weaknesses: Third Federal is not licensed in every state, and if you’re looking for a government loan (such as an FHA loan), you’ll have to look elsewhere.
Cardinal Financial Company – Best non-bank lender
Cardinal Financial Company, which also does business as Sebonic Financial, is a national mortgage lender with both brick-and-mortar locations and online service. It offers a diverse range of mortgage products, including conventional and government loans.
Strengths: Cardinal Financial is one of many mortgage lenders that accepts a down payment as low as 3 percent for a conventional loan (if you’re eligible). The lender also accepts lower credit scores for some government loans, which can make it easier to get approved for a mortgage.
Weaknesses: You won’t find a breakdown of interest rates or costs on Cardinal Financial’s website; you’ll need to fill out a form online to consult with a loan officer and get a rate quote.
Fairway Independent Mortgage Corporation – Best overall
Fairway Independent Mortgage Corporation, which also does business as Homefinity, is a large national mortgage lender that prides itself on its ability to quickly turn around mortgages, including 10-year loans.
Strengths: If you have a lower credit score, Fairway Independent Mortgage Corporation can help you boost it through its credit program, which creates a credit improvement plan for you free of charge.
Weaknesses: If you want to get preapproved, you’ll need to contact a loan officer directly; you can only get prequalified online.
First Mortgage Direct – Best no-fee lender
First Mortgage Direct, the online division of First Mortgage Solutions, offers both purchase loans and refinancing to borrowers in several states.
Strengths: First Mortgage Direct never charges hidden fees and doesn’t participate in limited-time offers, so you can rest assured you’re getting the best rates and terms available based on your circumstances.
Weaknesses: First Mortgage Direct is only available in California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Kansas, Missouri, Nebraska, New Jersey, Oregon, Pennsylvania, South Carolina, North Carolina, Tennessee, Texas, Virginia and Washington.
HSBC Bank – Best for refinancing
HSBC Bank is a bank and lender with over 40 million customers worldwide. The bank offers a multitude of home loan products, including 10-year to 30-year fixed-rate mortgages.
Strengths: Among its online capabilities, HSBC Bank offers daily interest rates on some products and an easy-to-follow calculator so you can estimate how much refinancing would save.
Weaknesses: The bank doesn’t offer interest rate and APR information for all of its products online
What you need to know about 10-year mortgages
How to find the best mortgage for you
Once you’ve decided which term is right for you, you’ll want to do your due diligence to find the best mortgage. Here are five kinds of mortgages to consider. You’ll want to do some research and compare mortgage rates from several entities, which could include traditional banks, online lenders and mortgage brokers. Prepare by reviewing your credit report to confirm it’s correct and have an idea of how much you can afford to pay each month.
The good news is that any time of year can be a good time to shop for a mortgage. “Mortgage rates are tied to the bond market, so there's not a good or bad season,” Moffitt explains. He adds that fees for a 10-year mortgage will be similar to those of other mortgages.
If you choose a mortgage with a longer repayment term and decide you want to pay it off faster — say in 10 years — calculate what your monthly payment would be if you had a 10-year mortgage rate and pay that amount each month. Be sure to instruct your lender to apply the extra funds to the principal. This is a good option for borrowers who want to pay aggressively but who don’t want to be locked into higher payments.
Other useful tools:
- Current mortgage interest rates: compare today's mortgage rates for various loan types
- 10-year refinance rates: lower your monthly payment with today's low refi rates
- Mortgage lender reviews: hear from other Bankrate consumers about their experience with local lenders
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|
|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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