Skip to Main Content
|

Compare 30-year mortgage rates today

Written by
Jeff Ostrowski
Edited by
Suzanne De Vita
Reviewed by
Greg McBride, CFA
Edited by
Suzanne De Vita
Reviewed by
Greg McBride, CFA
Apr. 23, 2025

Compare personalized rates in your area to find a lender

Jeff Ostrowski Written by
,
Jeff Ostrowski
Suzanne De Vita Edited by
,
Suzanne De Vita
Greg McBride, CFA Reviewed by
,
Greg McBride, CFA
Verified Badge IconExpert verified
Updated on Apr 23, 2025

On Wednesday, April 23, 2025, the national average 30-year fixed mortgage APR is 6.95%. The average 30-year fixed refinance APR is 6.95%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

On Wednesday, April 23, 2025, the national average 30-year fixed mortgage APR is 6.95%. The average 30-year fixed refinance APR is 6.95%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

COMPARE

Top offers on Bankrate vs. national average interest rates
Info Icon Hover for more

Historical timeline
Loan purpose
Caret Down Icon
Top offers on Bankrate: 6.06%
Info Icon
National average:  6.90%

For the week of April 20th, top offers on Bankrate are X% lower than the national average. On a $340,000 30-year loan, this translates to $XXX in annual savings.

Today's national 30-year mortgage interest rate trends

For today, Wednesday, April 23, 2025, the current average interest rate for a 30-year fixed mortgage is 6.90%, declining 1 basis point since the same time last week. If you're looking to refinance your current loan, today's average interest rate for a 30-year fixed refinance is 6.90%, declining 3 basis points over the last seven days. Mortgage rates change constantly, however, and many factors could play out between now and year-end to change those projections. Check out our mortgage rates forecast for the latest.

Mortgage rate news this week - April 17, 2025

30-year mortgage rates rise

The average rate on a 30-year fixed mortgage moved up to 6.88 percent this week, according to Bankrate’s latest lender survey.

The 10-year Treasury yield, which serves as a benchmark for mortgage rates, has been bouncing around in recent days amid uncertainty around President Donald Trump's tariff policies.

Current mortgage and refinance interest rates

Mortgage and refinance interest rates vary based on loan term, type and other factors.

Product Interest Rate APR
30-Year Fixed Rate 6.90% 6.95%
20-Year Fixed Rate 6.57% 6.66%
15-Year Fixed Rate 6.13% 6.22%
10-Year Fixed Rate 6.00% 6.07%
30-Year Fixed Rate FHA 7.00% 7.06%
30-Year Fixed Rate VA 7.02% 7.06%
30-Year Fixed Rate Jumbo 6.88% 6.92%

Rates as of Wednesday, April 23, 2025 at 6:30 AM

How to get the best 30-year mortgage rate

If you compare loan offers from a few mortgage lenders, you’ll have a better chance of landing a competitive rate. Here's how:

  • Decide whether a 30-year mortgage rate is right for you. The 30-year term is the most popular option, but it’s far from the only one. Depending on the lender you work with, you might be able to apply for fixed-rate loans amortized over anywhere from eight to 29 years.
  • Get preapproved: Get rate quotes from at least three mortgage lenders, ideally on the same day so you have an accurate basis for comparison. Lenders determine your interest rate based on your credit score, debt-to-income (DTI) ratio and other factors, including the size of your down payment. 
  • Compare the interest rate and APR: The interest rate and annual percentage rate (APR) reflect the cost of the loan. The interest rate is the cost to borrow the funds, while the APR includes the interest rate and other costs such as the origination fee and any points.
  • Consider the lender’s ratings and your experience: Aside from the numbers, evaluate lenders for convenience and responsiveness. Take a look at what other borrowers have had to say about the lender, too. To see which lenders best match your needs, check Bankrate’s lender reviews.
Learn more: How to get the best mortgage rate
Learn more: How mortgage rates are set
Bankrate logo
BANKRATE EXPERT FAQ

Why is a 30-year mortgage the most popular?

Robert Odom

President, Ameris Mortgage

"From a consumer standpoint, the 30-year fixed-rate mortgage is typically the most popular because it offers borrowers lower monthly payments while providing long-term stability and predictability. Stretching out the loan over 30 years significantly reduces the monthly payment compared to a shorter term like a 15-year mortgage. This may make homeownership more affordable and attainable, especially for first-time buyers who may not have a lot of upfront cash or significant savings. With a lower payment, there's more wiggle room in the household budget for other expenses. Because a 30-year fixed-rate mortgage offers a set interest rate for the entire loan term, a borrower’s monthly payment stays the same throughout those 30 years, providing peace of mind and budgeting stability."

Nicole Rueth

The Rueth Team, Movement Mortgage

"As a 23-year lender and a 60-door investor, my go-to is the 30-year mortgage. It’s the smartest play for both homebuyers and investors because it keeps payments low and predictable. That means more cash flow every month, and if you want to pay it down faster, you can — but you’re not forced to. It’s about flexibility: Homebuyers get breathing room in their budget with a longer-term, lower monthly payment, and investors get the ability to reinvest and scale optimizing cash flow. Successful real estate investing for both homeowners and investors isn’t about paying off debt fast — it’s about controlling assets, optimizing cash flow and building long-term wealth. That’s why the 30-year mortgage isn’t just popular — it’s a power move."

Should you get a 30-year mortgage?

The 30-year loan term appeals to a wide range of borrowers thanks to a more affordable monthly payment. It also works well for borrowers who would prefer to use a loan to invest their home's equity elsewhere.

Pros of a 30-year mortgage

  • Lower monthly payment: Repaying a mortgage over 30 years means you’ll have lower, more affordable payments spread out over time compared to shorter-term loans like 15-year mortgages.
  • Stability: Having a consistent principal and interest payment helps you better map out your housing expenses for the long term. (Your overall monthly housing expenses can change, however, if your homeowners insurance and property taxes go up or down.) Of course, this is only true if your mortgage has a fixed rate. An adjustable-rate mortgage won’t give you this same benefit for the whole life of the loan.
  • Buy more house: With lower payments, you might be able to qualify for a larger loan amount and afford a more expensive home.
  • More financial flexibility: Lower monthly payments can provide more cushion in your budget for other goals, like saving for emergencies, retirement, college tuition or home repairs and maintenance.

Cons of a 30-year mortgage

  • More total interest paid: Stretching out repayment over 30 years means you’ll wind up paying more in interest overall than you would with a shorter-term loan.
  • Higher mortgage rates: Lenders usually charge higher interest rates for 30-year loans because they’re taking on the risk of not being repaid for a longer amount of time.
  • Becoming house poor: Just because you might be able to afford more house with a 30-year loan doesn’t mean you should overstretch your budget. Give yourself some breathing room for other financial goals and unexpected expenses.
  • Slower equity growth: It will take longer to build equity in your home because most of your initial mortgage payments will go toward interest rather than paying down your principal amount.
Learn more: 15-year vs. 30-year mortgages

30-year mortgage FAQ

Additional resources for getting a 30-year mortgage

Follow our step-by-step guide to getting a mortgage

Meet our Bankrate experts

Written by: Jeff Ostrowski, Principal Reporter, Mortgages

I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I’ve had a front-row seat for two housing booms and a housing bust. I’ve twice won gold awards from the National Association of Real Estate Editors, and since 2017 I’ve served on the nonprofit’s board of directors.

Read more from Jeff Ostrowski

Edited by: Suzanne De Vita, Senior Editor, Home Lending

I’ve covered the housing market, mortgages and real estate for the past 12 years. At Bankrate, my areas of focus include first-time homebuyers and mortgage rate trends, and I’m especially interested in the housing needs of baby boomers. In the past, I’ve reported on market indicators like home sales and supply, as well as the real estate brokerage business. My work has been recognized by the National Association of Real Estate Editors.

Read more from Suzanne De Vita

Reviewed by: Greg McBride, CFA, Chief Financial Analyst, Bankrate

Greg McBride is a CFA charterholder with more than a quarter-century of experience in personal finance, including consumer lending prior to coming to Bankrate. Through Bankrate.com's Money Makeover series, he helped consumers plan for retirement, manage debt and develop appropriate investment allocations. He is an accomplished public speaker, has served as a Wall Street Journal Expert Panelist and served on boards in the credit counseling industry for more than a decade and the funding board of the Rose Foundation’s Consumer Financial Education Fund.

Read more from Greg McBride

Mortgage rates in other states