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We want this to be a “win-win” situation. So, we only want to get paid if we bring you value in the form of finding a mortgage lender that works for you. After you review and select a lender participating on our platform, with your permission, we will transmit the information you shared with us to your lender, enabling you to complete a mortgage application with them. Upon transmission, your selected lender will compensate us for obtaining your information. Generally, our lenders pay us and incorporate the cost of our services as part of the final interest rate on your loan, or in your loan amount. You don’t pay anything to Credible if your loan does not close. This is common practice in mortgage transactions where you find your lender through a lender-review platform like ours, also known as a “lead generator.”

CURRENT 10-YEAR FIXED MORTGAGE RATES

Check 10-year fixed rates. Then personalize them.

Your mortgage rate depends on your credit score and other details. So once you check today’s rates, get a personalized quote just for you.

Checking rates won’t affect your credit score

Compare current 10-year mortgage rates from our lenders

With so many mortgage lenders competing for your business, you’ll want to shop around for the best mortgage rate. Enter some basic information about yourself and the property you’re looking to purchase in the table below to get started. We’ll generate loan options and show you prequalified rates from our partner lenders — all without affecting your credit score.

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1

Fill out a quick form

It takes about 3 minutes to tell us a little bit about you and your dream home.

2

Choose a prequalified rate

Compare transparent, prequalified mortgage rates from top lenders.

3

Finish up with the lender

Verify your information with the lender to close your loan.

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A modern approach to mortgages

  • Rates personalized for you

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    Fill out a simple form, choose a rate, then complete your mortgage online with the lender you choose.

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Mortgage rates by loan term

Mortgage rates drop or rise daily, reacting to changing economic conditions, central bank policy decisions, and investor sentiment. The table below shows recent trends in mortgage rates.

ProductInterest rateAPR

Last updated on Mar 01, 2024. These rates are based on the assumptions shown here. Actual rates may vary.

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Total finance charges may be higher over the life of the loan • We arrange loans with third party providers.

Financial education

Need more info about getting a mortgage?

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How to buy a house - a step by step guide

There are a lot more steps in the homebuying process than you might think. Review our checklist of steps to buying a house so you don’t forget anything along the way.

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Tips for first-time home buyers

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How to qualify for the best mortgage rate

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For education purposes only

The information in this section is provided for general education purposes only to allow you to shop for the best loan more effectively and does not necessarily reflect Credible services. For homebuyers, we will not display rates, loan options, take a mortgage application, or negotiate loan terms. We will provide advertisements of lenders you can select from based on a description of factors our lenders work with best.

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By Martin Dasko

Martin Dasko has been helping Millennials make sense of their finances without missing out on life since 2008. He helps young people manage their finances by creating content on paying off debt, investing for the future, and making more money through side hustles. Martin has been featured in the New York Times and The Toronto Star and has been quoted by many other major publications on financial topics.

Edited by Reina Marszalek

Reina Marszalek is Credible's senior mortgage editor and is an experienced multimedia content creator. She previously served as a managing editor at Policy Genius, where she covered the insurance and home verticals.

Reviewed by Mike Schmidt

Mike Schmidt is Credible's senior manager of mortgage operations and is a licensed mortgage loan originator in 50 states. Mike has spent 18 years in the industry, working at various financial institutions. He has expertise in all mortgage products, including conventional, FHA, and VA loans.

A 10-year fixed mortgage is, as it sounds, a mortgage with a 10-year fixed rate. The timeline refers to the mortgage term and not the amortization period. The term is the amount of time you’ve locked in your interest rate. The amortization period is the time it will take to pay off your home mortgage. It’s important to remember these two terms when shopping for a home and comparing housing interest rates.

The “fixed” portion of the rate indicates that the interest rate that you’ll pay for your mortgage loan will remain the same for the entire period. With a variable mortgage rate, your interest rate fluctuates based on market conditions and monetary policy.

With housing interest rates going through the roof lately, many people wish that they were locked in at a fixed rate. While a fixed mortgage isn’t always the best deal, you’re essentially paying for stability and consistency since you know what your payments will be like for the duration of the loan instead of stressing about the state of the economy.

External and internal factors will impact the 10-year fixed mortgage rates you receive from a lender. The factors in your control are your credit score, employment history, and how much you save for a down payment. Since housing rates today are higher than they were a few years ago, it’s essential that you prioritize what you can control.

There are external factors at play, too, such as inflation and monetary policy initiatives from the Federal Reserve. While the Fed doesn’t set mortgage rates, it controls borrowing costs by changing the federal funds rate to slow down the economy and cool off inflation. This rate will determine how much banks pay each other to borrow money. Fixed-rate mortgages are the most common kind of home loan, and these track the 10-year Treasury yield. While a fixed mortgage rate isn’t the same as the 10-year yield rate, they’re closely tied since mortgage lenders look at this figure.

If you’re searching for current 10-year mortgage rates, we urge you to check out this page for options. It’s worth noting that when the Fed aggressively raises interest rates to combat inflation, it may not be the ideal time to find the best 10-year mortgage rates.

Some economists are hopeful that interest rate hikes will stop by the end of 2023, while others are concerned that mortgage rates could hit 8%. For context, the average for a 30-year fixed mortgage for the entire country reached 7.19% as of September 21.

The Fed held off on a rate hike at a September meeting of the Federal Open Market Committee (FOMC), but this doesn’t mean that future rate hikes are out of the question. The future of interest rates will depend on the economy's strength as the central bankers look at the jobs report and the overall economy when deciding on interest rate hikes that will impact 10-year mortgage interest rates.

When it comes to getting a lower mortgage rate, general rules will always be applicable regardless of the term.

Here are some helpful tips to get the lowest 10-year fixed rate possible, even with current 10-year mortgage rates higher than usual:

  • Pay off your debts: Mortgage lenders will look at your debt, so it’s critical that you pay off as much of your debt as possible.
  • Shop around: Since your housing costs will likely be your most significant expense, it’s worth shopping around to see the available rates.
  • Save up for a larger down payment: With a larger down payment, you’re borrowing less money, which will impact the interest rate.
  • Keep working on your credit score: As your credit score increases, lenders will consider you more trustworthy when borrowing money.
  • Review your credit report: You should review your credit report often to ensure there aren’t any mistakes or issues.

You may also want to shop around for a mortgage pre-approval to see what you qualify for before starting your home search.

When reviewing 10-year mortgage rates, there will be a few benefits and setbacks to consider before you decide to go with these terms.

Here are the benefits of a 10-year fixed mortgage rate:

  • You have mortgage stability since you know what your payments will be.
  • You can focus on settling into your home since you plan to stay for the long term.
  • You don’t have to stress about external economic factors that could increase your monthly expenses.
  • You’ll pay off your mortgage faster than you would with a longer term.
  • You’ll get a lower interest rate than you would with longer terms (like 20- and 30-year mortgages).

Here are the drawbacks of a mortgage rate with this term length:

  • You could spend more money on interest when rates drop. A fixed rate for 10 years means you may miss out on lower rates as the economy goes through the regular cycle.
  • Fixed rates traditionally come with higher fees for an early termination.
  • Many homeowners don’t stay for 10 years, and it’s a risk to enroll for such an extended term.
  • Your monthly payment will be higher than it would with longer terms.

The key similarities between a 10-year fixed-rate mortgage and a 30-year fixed-rate mortgage are:

  • You have payment consistency.
  • You’re not worried about the economy and interest rate hikes.

The key differences between a 10-year fixed-rate mortgage and a 30-year fixed rate are:

  • The 30-year fixed rate is one of the most popular options.
  • You spend more on interest with a longer term.
  • You’ll notice that mortgage lenders may reward you with a lower rate if you go with a shorter term.

Here are the scenarios where it might make sense to go with a 10-year fixed-rate mortgage:

  • You plan on staying in this home for the long term: If you’re looking for a quick flip or to move within a few years, you’re going to want to go with a different term, as today’s housing rates are high. However, if you know you want to stay in this home for at least a decade, you may want to consider a fixed rate.
  • You believe that interest rates will continue to rise: If you feel that interest rates won’t come down in the near future, then you’re going to want to lock in a low rate as soon as possible.

Get your personalized mortgage quote today

Checking rates won’t affect your credit score