30-year mortgage rates decrease - When should you lock? | Today's mortgage and refinance rates, April 9, 2026

Mortgage rates were mostly lower versus last week, according to Bankrate data. Average rates for 30-year fixed, 15-year fixed and 5/1 ARM declined.

Mortgage rates ended March near their highest levels since mid-2025. But mortgage rates are constantly in flux. Sometimes they can swing wildly from day-to-day and lender-to-lender. See more about today's mortgage rates below.

Rates accurate as of 04/09/2026.

Today's average 30-year fixed-mortgage rate is 6.44 percent, an increase of 0.13 basis points over the last week. This time a month ago, the average rate on a 30-year fixed mortgage was higher, at 6.22 percent.

At the current average rate, you'll pay $75.38 for every $100,000 you borrow. That's up $1.02 than it would have been last week.

The average 15-year fixed-mortgage rate is 5.81 percent, down 0.04 basis points over the last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost approximately $100.04 per $100,000 borrowed. That may put more pressure on your monthly budget than a 30-year mortgage would, but it comes with some big advantages: You'll save thousands of dollars over the life of the loan in total interest paid and build equity much faster.

The average rate on a 5/1 ARM is 5.61 percent, down 0.08 basis points over the last week.

Adjustable-rate mortgages, or ARMs, are mortgage loans that come with a floating interest rate. To put it another way, the interest rate can change periodically throughout the life of the loan, unlike fixed-rate mortgages. These types of loans are best for those who expect to sell or refinance before the first or second adjustment. Rates could be materially higher when the loan first adjusts, and thereafter.

Monthly payments on a 5/1 ARM at 5.61 percent would cost approximately $68.97 for each $100,000 borrowed over the initial five years, but could climb hundreds of dollars higher afterward, depending on the loan's terms.

The average jumbo mortgage rate is 6.54 percent, down 0.04 basis points from a week ago. This time a month ago, the average rate on a jumbo mortgage was lower, at 6.31 percent.

At the current average rate, you'll pay $0.32 per month in principal and interest for every $100,000 you borrow. That's down $0.32 from what it would have been last week.

The average 30-year fixed-refinance rate is 6.69 percent, down 0.05 basis points from a week ago. This time a month ago, the average rate on a 30-year fixed refinance was lower, at 6.66 percent.

At the current average rate, you'll pay $68.97 per month in principal and interest for every $100,000 you borrow. That's up $0.08 per $100,000 compared to last week.

If you’re looking for the best deal on a new loan, here’s how to position yourself for the lowest possible rates:

• Grow your credit score: Limit your new debt and pay off existing debt to grow your credit score. A higher score will unlock a better rate, with the best rates going to those with a score of 780 or higher.
• Shop around: Mortgage rates are highly variable between lenders and what the market's doing. By comparing offers from different lenders, you could save thousands of dollars.
• Lock your rate: When you get the rate you want, lock it. This can help you take advantage of dips in the market. Ask your lender if they offer a float-down option, which will allow you to adjust your rate downward if market rates dip lower.
• Put more money down: A higher down payment tells your lender that you mean business, and you'll be seen as less of a risk. You’ll get a better offer due to this decrease in risk.

Given how unpredictable the economy and mortgage market is, locking in your mortgage rate provides some degree of certainty. Many homebuyers choose to lock their rates after their offer on a home has been accepted, but you can lock sooner than that if you think rates will rise before you find a home. Before you lock your mortgage rate, ask your lender:

• How much does it cost to lock a rate? Many lenders offer free rate locks, but only for a certain time frame. Ask about any rate lock fees or lock extension fees.
• How long does the rate lock last? The typical initial rate lock lasts 30 to 60 days, though some lenders do 90-day initial locks. Beyond that, you’ll need to ask for an extension.
• If rates drop, will I be able to take a lower rate? Some lenders allow you to take a lower rate after you lock in, known as a float-down lock. If your lender offers this, be sure you understand the details, including if there’s an additional fee or rate change threshold.

Mortgage rates have drifted downward since the tail end of last year, with the 30-year rate averaging 6.18% for the first two months of 2026. For the same period last year, rates were hovering above 7%.

However, rates have fallen much slower than they rose, and they may not fall much further this year. Bankrate projects that the average rate for 2026 will be around 6.1%. Rates may drop as low as 5.7%, but could also rise to 6.5% throughout the year.

One thing is for certain: if rates go lower, it will open up more opportunities for people to buy or refinance.

Learn more: Bankrate’s 2026 mortgage rates forecast

• Latest mortgage news this week
• Compare current mortgage rates for today

The mortgage rates in this story are derived from our national rate and APR averages. Bankrate's mortgage rates include these national rate and APR averages; Bankrate Monitor (BRM) National Index rate averages; and “top offers”:

• National rate and APR averages: Displayed as daily and weekly averages, these rates and APRs are primarily collected from the 5 largest banks and thrifts across hundreds of markets in the U.S.
• Bankrate Monitor (BRM) National Index rate averages: Reported weekly, this long-standing survey collects rates from banks and thrifts across hundreds of markets in the U.S.
• "Top offers": Displayed daily and weekly, these are an average of the rates listed first on our rate tables as advertised by our partners. The averages shown are based on the loan type and term selected.

You can compare national average mortgage rates to top offers to see how much you could save when shopping on Bankrate. Learn more about Bankrate's how we collect, display and report mortgage rates.