Compare 30-year mortgage rates today
Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2000, he spent more than 20 years writing about real estate, business, the economy and politics.
Greg McBride, CFA, is the Chief Financial Analyst for Bankrate.com, leading a team responsible for researching financial products, providing analysis, and advice on personal finance to a vast consumer audience.
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How our rates are calculated
- The national average is calculated by averaging interest rate information provided by 100-plus lenders nationwide. Compare the national average versus top offers on Bankrate to see how much you can save when shopping on Bankrate.
- Bankrate top offers represent the weekly average interest rate among top offers within our rate table for the loan type and term selected. Use our rate table to view personalized rates from our nationwide marketplace of lenders on Bankrate.
For the week of November 24th, 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
On Thursday, November 30, 2023, the current average interest rate for the benchmark 30-year fixed mortgage is 7.66%, decreasing 7 basis points since the same time last week. If you're looking to refinance, the average 30-year refinance interest rate is 7.69%, falling 5 basis points over the last week.Here's how it works:
Enter your details
Answer some questions about your homebuying or refinancing needs to help us find the right lenders for you.
Compare top rates
See competitive mortgage rates from lenders that match your criteria and compare your offers side-by-side.
Choose a lender
After selecting your top options, connect with lenders online or on the phone. Then choose a lender, finalize your details, and lock in your rate.
Enter your details
Answer some questions about your homebuying or refinancing needs to help us find the right lenders for you.
Compare top rates
See competitive mortgage rates from lenders that match your criteria and compare your offers side-by-side.
Choose a lender
After selecting your top options, connect with lenders online or on the phone. Then choose a lender, finalize your details, and lock in your rate.
Compare 30-year mortgage rates today
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The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear, except where prohibited by law for our mortgage, home equity and other home lending products. This table does not include all companies or all available products. Bankrate does not endorse or recommend any companies.
Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2000, he spent more than 20 years writing about real estate, business, the economy and politics.
Greg McBride, CFA, is the Chief Financial Analyst for Bankrate.com, leading a team responsible for researching financial products, providing analysis, and advice on personal finance to a vast consumer audience.
On Thursday, November 30, 2023, the national average 30-year fixed mortgage APR is 7.68%. The average 30-year fixed refinance APR is 7.70%, according to Bankrate's latest survey of the nation's largest mortgage lenders.
On Thursday, November 30, 2023, the national average 30-year fixed mortgage APR is 7.68%. The average 30-year fixed refinance APR is 7.70%, according to Bankrate's latest survey of the nation's largest mortgage lenders.
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money.
Weekly national mortgage interest rate trends
Current mortgage rates
30 year fixed | 7.66% | |
15 year fixed | 6.84% | |
10 year fixed | 6.88% | |
5/1 ARM | 6.81% |
Today's national 30-year mortgage interest rate trends
On Thursday, November 30, 2023, the current average interest rate for the benchmark 30-year fixed mortgage is 7.66%, decreasing 7 basis points since the same time last week. If you're looking to refinance, the average 30-year refinance interest rate is 7.69%, falling 5 basis points over the last week.Mortgage industry insights
Mortgage rates sink, could be headed back below 7%
The average rate on 30-year mortgages dropped to 7.41 percent this week, down from 7.55 percent last week, according to Bankrate’s weekly national survey of large lenders.
Mortgage rates retreated partly because of a downtrend in 10-year Treasury yields, the most relevant benchmark for the 30-year mortgage. After a tepid jobs report and lower inflation numbers last week, the 10-year Treasury dropped from 5 percent to less than 4.3 percent in recent weeks.
“The 10-year bond yield has dropped to levels that we haven’t seen for nearly three months as economic data points to lower inflation and weakness in the economy,” says Melissa Cohn, regional vice president at William Raveis Mortgage. “It’s a wonderful holiday gift to the real estate market.”
Despite the recent reversal, home loans are by no means as cheap as they were two years ago. The run-up reflects a variety of factors, including the Federal Reserve's continuing fight against inflation. While the Fed doesn't directly set fixed mortgage rates, it does establish the overall tone.
The central bank decided against another rate hike at its Nov. 1 meeting, but it left open the chance of another hike before the end of the year. Given recent developments, that seems unlikely. The Fed could even begin cutting rates in 2024.
A growing number of housing economists say mortgage rates could fall below 7 percent in the coming months. If you’re shopping for a mortgage, keep in mind that 7.41 percent is just an average — some lenders advertise below-average rates on Bankrate.
Location plays a role, too. In some areas of the U.S., rates are below 7.2 percent.
Many homebuyers have been sidelined by the recent rise in rates, along with the ever-present issue of low inventory. Inflation, the economy and Fed policy will remain the main factors driving mortgage rates in the coming months.
Learn more: Weekly mortgage rate trend analysis
Current mortgage and refinance interest rates
Product | Interest Rate | APR |
---|---|---|
30-Year Fixed Rate | 7.66% | 7.68% |
20-Year Fixed Rate | 7.34% | 7.36% |
15-Year Fixed Rate | 6.84% | 6.88% |
10-Year Fixed Rate | 6.88% | 6.90% |
5-1 ARM | 6.81% | 7.98% |
10-1 ARM | 7.59% | 8.06% |
30-Year Fixed Rate FHA | 6.43% | 7.34% |
30-Year Fixed Rate VA | 6.61% | 6.72% |
30-Year Fixed Rate Jumbo | 7.73% | 7.74% |
Rates as of Thursday, November 30, 2023 at 6:30 AM
Product | Interest Rate | APR |
---|---|---|
30-Year Fixed Rate | 7.69% | 7.70% |
20-Year Fixed Rate | 7.58% | 7.60% |
15-Year Fixed Rate | 6.89% | 6.92% |
10-Year Fixed Rate | 6.91% | 6.94% |
5-1 ARM | 6.73% | 7.82% |
10-1 ARM | 7.65% | 8.07% |
30-Year Fixed Rate FHA | 6.50% | 7.43% |
30-Year Fixed Rate VA | 6.62% | 6.83% |
30-Year Fixed Rate Jumbo | 7.76% | 7.77% |
Rates as of Thursday, November 30, 2023 at 6:30 AM
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The Federal Reserve does not set mortgage rates, and the central bank’s decisions don’t drive mortgage rates as directly as they do other products, such as savings accounts and CD rates. However, the Fed does set the overall tone for borrowing costs. The central bank’s federal funds rate can influence 10-year Treasury bond yields, the benchmark for 30-year mortgage rates.To sum up: The Fed does not directly set mortgage rates, but its policies influence the financial markets and investors that dictate how these rates move.Learn more about how the Federal Reserve affects mortgage rates.
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Bankrate displays two sets of rate averages that are produced from two surveys we conduct: one daily (“overnight averages”) and the other weekly (“Bankrate Monitor averages”).
For Bankrate’s overnight averages, APRs and rates are based on no existing relationship or automatic payments. To determine the Bankrate Monitor mortgage rate averages, Bankrate collects APRs and rates from the 10 largest banks and thrifts in 10 large U.S. markets based on no existing relationship or automatic payments.
Our advertisers are leaders in the marketplace, and they compensate us in exchange for placement of their products or services when you click on certain links posted on our site. This allows us to bring you, at no charge, quality content, competitive rates and useful tools.
How to compare 30-year fixed mortgage rates
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. Another option: an adjustable-rate mortgage. Weigh your needs and situation to make sure 30 years is the right term for you.
- 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. Putting your best foot forward with those variables will help you land the best deal.
- Compare the interest rate and APR: The interest rate and annual percentage rate (APR) reflect the cost of the loan. The interest rate and annual percentage rate (APR) reflect the cost you’ll incur for 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. When comparing rate offers, the APR is a more complete picture of the all-in cost.
- Consider the lender’s ratings and your experience: Aside from the numbers, evaluate other factors such as convenience and the lender’s responsiveness. Take a look at what other borrowers have had to say about the lender, too.
It’s important to shop around for a mortgage to make sure you’re getting the best deal. Bankrate’s mortgage amortization calculator shows how even a 0.1 percent difference on your rate can translate to thousands of dollars you could pay over the life of the loan.
Some lenders still cater to borrowers that don’t meet these criteria, offering competitive rates even if your credit or finances aren’t up to par. That’s another reason why it pays to shop around.
Comparing mortgage rates can also pay off especially in a volatile economic climate. With rates higher than they were in recent years and constantly changing, it’s often helpful to understand overall rate trends before locking in your own. You can learn more about mortgage lenders and their various options on Bankrate’s lender review hub.
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When it comes to mortgages, the interest rate and the annual percentage rate (APR) are related, but distinct. The interest rate is the cost of borrowing the loan, expressed as a percentage of the principal amount. The APR represents the total cost of borrowing including additional fees and points. If you want to know the true cost of the loan, take a look at the APR.
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The terms “prequalified” and “preapproved” sound similar, but they aren’t the same. The process of prequalifying for a home loan isn’t as involved — you’ll simply tell your lender some information about your finances and get an idea of how much you might qualify for. When you get preapproved, you’ll need to provide the lender extensive documentation about your finances. If you’re eligible for a loan after this review, you’ll get a preapproval letter stating the lender’s intent to loan you a certain amount of financing at a certain interest rate.
Lender compare
Compare mortgage lenders side by side
Mortgage rates and fees can vary widely across lenders. To help you find the right one for your needs, use this tool to compare lenders based on a variety of factors. Bankrate has reviewed and partners with these lenders, and the two lenders shown first have the highest combined Bankrate Score and customer ratings. You can use the drop downs to explore beyond these lenders and find the best option for you.

Garden State Home Loans
NMLS: 473163
|
State License: MB-473163
5.0
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
-
Bankrate's take
Garden State Home Loans is good for borrowers in need of a swift closing process and the ability to chat online with loan officers.
Loans offered
Conventional, jumbo, FHA, VA, USDA, refinancing; home equity loan; construction loans; non-QM
Min. credit score required
Nationwide availability
Available in 13 states, including Florida, New Jersey, New York, Pennsylvania, Texas and Virginia
Min. down payment
3% for conventional loans; 3.5% for FHA loans; none for VA loans or USDA loans

Homefinity
NMLS: 2289
|
State License: 4965
5.0
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
-
Bankrate's take
Homefinity is good for borrowers seeking guidance from a loan officer and a fast, convenient process.
Loans offered
Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; refinancing; physician loans
Min. credit score required
Nationwide availability
All U.S. states except Nevada and New York
Min. down payment
3% for conventional loans; 3.5% for FHA loans; none for VA loans or USDA loans
Factors that determine your mortgage rate
Your mortgage rate depends on a number of factors, including some that you control (such as your individual credit profile) and some you don’t (what’s happening in the broader economy). These variables include:
- Your credit and finances: The higher your credit score, the more favorable interest rate you’ll get. The same goes for the size of your down payment and the amount of debt you carry: Generally, if you have more money to put down, you’ll get a lower rate. If you have additional debt, your rate might be higher.
- Loan amount: The size of your loan can impact your rate.
- Loan structure: Your rate varies whether you’re obtaining a fixed-rate or adjustable-rate loan. It also depends on the length of the loan (for example, 30 years or 15 years).
- Location of the property: Rates vary depending on where you’re buying.
- Whether you’re a first-time homebuyer: Many first-time homebuyer loan programs include a lower-rate mortgage.
- Economic factors: Broadly speaking, mortgage rates are moved by the Federal Reserve and investor appetite.
- The lender you work with: Lenders set rates based on many factors, including their own supply and demand.
Pros and cons of a 30-year mortgage
Choosing the right home loan is an important step in the homebuying process, and you have options based on your credit score, income, down payment amount, budget and financial goals. Here are the main pros and cons of a 30-year fixed mortgage:
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 towards interest rather than paying down your principal amount.
30-year mortgage FAQ
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With a 30-year fixed-rate mortgage, your mortgage rate stays the same for every one of your 360 monthly payments. The benefits of that feature become apparent over time: As overall prices rise and your income grows, your mortgage payment stays the same.
One twist to 30-year mortgages comes from the calculus behind the amortization schedule: In the early years of a 30-year loan, you pay much more interest than principal.Learn more: What is a fixed-rate mortgage and how does it work?
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Although 30-year fixed-rate mortgages are the most common type of loan, you might want to explore other options, such as:
- 15-year fixed-rate loan: A 15-year mortgage is similar to a 30-year loan, but you’ll repay it over 15 years instead of 30. That means you’ll have higher monthly payments, but there’s a tradeoff: You’ll get a lower rate, and pay your loan off sooner.
- 10-year or 20-year loan: Some borrowers opt for a 10-year or 20-year mortgage, repaid over 10 years or 20 years, respectively. This might be an option if you’re refinancing mid-way or more through the term of your first mortgage.
- Flexible-term loan: Many lenders offer conventional loans in terms between eight years and 29 years. You might want to go this route if you want more flexibility with your loan structure.
- 5/1 adjustable-rate mortgage (ARM): Most 5/1 ARMs come with 30-year terms, but you’ll pay a lower fixed introductory rate for the first five years. After that, your rate will increase or decrease once a year based on prevailing market rates. While you’ll save money initially, a 5/1 ARM makes sense only if you know you’ll move within five years, or have a plan to refinance to another loan before the first rate reset. Otherwise, you’ll need to prepare for unpredictable monthly payments.
Learn more: 5 types of mortgage loans for homebuyers
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Mortgage rates are volatile. Rate locks can offer peace of mind, but the decision to lock your rate is a bit of a gamble. Lock in too early, and you might miss the opportunity for a better rate.Rate locks often last from 30 days to 60 days, though they sometimes last 120 days. Some lenders offer a free rate lock for a specified period.A longer rate lock tends to be more expensive. For example, a borrower who chooses a 30-day lock on a fixed-rate 30-year loan might pay a 4 percent rate and zero points, while a 60-day lock might cost 1 point (equal to 1 percent of the loan) or a slightly higher rate with a half-point.However, when mortgage rates are rising, you might consider locking the lower rate as soon as possible. It’s hard to time this decision perfectly, because no one really knows what interest rates are going to do.Learn more: Mortgage rate lock: What it is and when to lock
Refinancing your current 30-year mortgage
With mortgage rates at their highest point in more than two decades, most borrowers won’t find savings in a refinance. In general, it’s only a good idea to refinance your 30-year fixed mortgage into a new loan if you can get a lower interest rate, lower your monthly payment or improve your financial situation in another way.
Still, if you want to refinance now, consider refinancing your 30-year mortgage into a shorter loan, which would help you save on interest. Keep in mind, though, you’ll likely have a higher monthly payment.
If you’re on the fence about refinancing, think about the closing costs. When you refinance a 30-year mortgage, you’ll need to pay for the lender’s fees, an appraisal and other costs. While these aren’t as high as the costs you paid when you bought the home, they ultimately impact your savings. If refinancing won’t save you money or benefit your finances overall, then it’s likely not the best move right now.
Written by: Jeff Ostrowski, mortgage reporter for Bankrate
Jeff Ostrowski writes about the U.S. housing market for Bankrate. He has appeared on CNBC and numerous radio and television outlets to discuss his reporting about real estate trends.
Reviewed by: Greg McBride, chief financial analyst for Bankrate
Greg McBride, CFA, is Senior Vice President, Chief Financial Analyst, for Bankrate.com. He leads a team responsible for researching financial products, providing analysis, and advice on personal finance to a vast consumer audience.
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