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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.”


Check 30-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.

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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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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 Jul 17, 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 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 Angela Mae

Angela Mae is a freelance writer with a passion for all things personal finance. She has written about consumer loans, debt management, investing, retirement planning, and more. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories.

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 30-year fixed mortgage is a mortgage loan that has the same interest rate for the entire duration of the loan — in this case, 30 years. This means that your interest rate will not change, even if the market does. Your monthly payment amount will also remain the same, except in certain cases, such as when your property taxes or homeowners insurance premiums increase.

The higher the interest rate, the more you’ll end up paying in interest over time. Conversely, the lower the rate — and the shorter the repayment period — the less you’ll typically pay in interest.

Many direct and indirect factors can affect housing interest rates today. Some of these factors are within your control, while others are not.

One of the biggest factors that you can’t control when it comes to current 30-year fixed mortgage rates is the Federal Reserve’s monetary policies. The Fed cannot set housing interest rates on its own, but it does determine the federal funds rate. Financial institutions refer to this rate when issuing loans. A higher federal funds rate may result in higher mortgage rates.

Another indirect determinant of mortgage interest rates is inflation. As inflation goes up, so do mortgage rates, and vice versa. Current market conditions — that is, supply and demand — also factor in when determining mortgage rates.

With that in mind, lenders also determine mortgage rates based on factors within your control, such as:

  • Loan type: Many types of home loans exist, including conventional, jumbo, USDA, VA, and FHA loans. Mortgage rates can vary based on the type you choose.
  • Loan term: 30-year mortgage rates might be higher than shorter-term loan rates. This is because longer terms are riskier for lenders.
  • Interest rate type: There are two main types of interest rates: fixed and adjustable. Fixed rates do not fluctuate. Adjustable rates, however, may come with a lower initial rate that increases after a certain period of time.
  • Loan amount: A larger loan may come with a higher interest rate. Typically, jumbo loans are also more expensive than conforming home loans. They may also have a higher rate.
  • Down payment amount: Most mortgage lenders require a minimum down payment of 3% to 5%. However, lenders may view you as less risky if you put down more money upfront, resulting in a lower interest rate on your home loan.
  • Property location: Interest rates vary based on where you live. Some states or counties may have higher or lower rates, depending on the current housing market there.
  • Credit score: Your credit score is another indicator of how likely you are to pay back the money you borrowed. Typically, the better your credit score is, the lower your interest rate will be.

The average 30-year mortgage rate can fluctuate, which is why it’s important to compare rates from several lenders before settling on one. Thirty-year fixed mortgage rates have gone up in recent years and current rates are around 7%. Check out today’s 30-year interest rates from top lenders.

Here are the main things you can do to get the lowest 30-year home interest rates possible:

  • Reduce your current debts: Paying off your debts frees up more cash and lowers your debt-to-income ratio (DTI). Your DTI is the percentage of your gross monthly income that goes toward your debts each month. Home lenders typically prefer working with borrowers whose housing expenses and long-term debt add up to no more than 36% of their monthly gross income.
  • Compare lenders: Shopping around lets you see your loan options and find the best 30-year mortgage rates for your financial situation. You can rate shop with multiple lenders.
  • Get pre-approved: Getting pre-approved for a loan doesn’t guarantee your rates or terms, but it can give you a sense of the rate you might qualify for. This will usually require a credit check, but if you compare lenders within a 45-day period, only the first hard inquiry will affect your credit score.
  • Save up for a larger down payment: Having a larger down payment could get you a lower interest rate, increase your approval odds, and result in a lower monthly payment.
  • Consider using discount points: One way to lower your mortgage rate is to make a larger upfront payment during the closing process to get discount points. Discount points are generally calculated based on the loan amount, though each lender has its own policy.

The main benefits of getting a 30-year fixed mortgage include:

  • Reliable monthly payments: Fixed 30-year mortgage interest rates don’t change, so you always know how much you’re going to pay each month. This is especially useful if you’re trying to budget or achieve other financial goals.
  • Smaller monthly payments: A 30-year repayment term gives you more time to pay off your mortgage. Your monthly payments also tend to be smaller as a result of the longer term.
  • Ability to qualify for a larger loan: You may be able to get a more expensive home with a longer mortgage term. Make sure you can afford the monthly payments, though.

Keep in mind that there are also a few drawbacks, such as:

  • More total interest paid: The longer you have the loan, the more total interest charges you’ll end up paying over time. Use an online mortgage calculator to determine how much you could be paying in interest.
  • Potentially higher interest rate: A shorter mortgage term length might come with a lower interest rate. This is because lenders often charge a higher rate to offset the risk of issuing a loan with a longer repayment term.
  • Takes longer to build equity: When you take out a home loan, most of your initial monthly payments go toward interest. Over time, more of your payments will go toward the principal balance. With a 30-year repayment period, it can take longer to start building home equity.
  • May be difficult to manage: Although a 30-year mortgage could qualify you for a larger loan amount, it could also mean higher monthly payments. It might also increase the temptation and risk of buying a home that is too expensive for your budget.

A 30-year fixed mortgage is generally viewed as a higher risk to a lender than a 15-year fixed mortgage. This is because the longer term gives the borrower more time to run into financial hardships that make it difficult to pay back what you owe.

Typically, 30-year fixed mortgage rates are higher than 15-year rates. This means you could end up paying more in total interest due to both the higher rate and the longer term. Even if the rate on both loans is the same, a longer term means more interest paid over the duration of the loan.

A longer term also means it’ll take more time to build home equity and become debt-free. However, 30-year fixed loans typically have lower monthly payments than shorter-term loans. This can make it easier to qualify for and afford a mortgage sooner.

Taking out a 30-year fixed-rate mortgage might make sense if you:

  • Want to get a home sooner rather than later
  • Want smaller monthly mortgage payments
  • Intend to live in the same home for the foreseeable future and can build equity over time
  • Want predictable monthly payments
  • Are interested in purchasing a more expensive home

Take some time to consider whether now’s the right time to get a mortgage loan and, if so, which term might be best for you. Remember to regularly check the latest 30-year mortgage rates as this can make a difference in how much you pay in interest.

Get your personalized mortgage quote today

Checking rates won’t affect your credit score