NerdWallet Mortgage Rate Index Methodology

By NerdWallet 
Edited by Tim Manni

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.


Index methodology:

The NerdWallet Mortgage Rate Index is based on a sampling of daily mortgage rates from national mortgage lenders for the following consumer profile*:

  • Location: Schaumburg, Ill (ZIP: 60173)

    • Why: We identified a suburban location near a major metro area and a suburban location where the median sales price of the closest metro aligns with the national median sales price.

  • Property value: $250,000

  • Down payment: When required, we assumed a 20% down payment.

  • Credit: We go with the highest band, if asked.

The lenders included in the sampling are:

  • Bank of America, NA NMLS ID# 399802

  • JP Morgan Chase Bank, NA NMLS ID# 399798

  • Citibank Mortgage, NA NMLS ID# 412915

  • Flagstar Bank, FSB NMLS ID# 417490

  • Guaranteed Rate, Inc. NMLS ID# 2611

  • loanDepot, LLC NMLS ID# 174457

  • Navy Federal Credit Union, NMLS ID# 399807

  • PennyMac Loan Services, LLC NMLS ID# 35953

  • PNC Bank, NA NMLS ID# 446303

  • Provident Funding Associates, LP NMLS ID# 3821

  • Quicken Loans, Inc. NMLS ID# 3030

  • SunTrust Mortgage, Inc. NMLS ID# 2915

  • U.S. Bank, NA NMLS ID# 402761

  • Wells Fargo, NA NMLS ID# 399801


*In certain cases, rates collected are an average of rates and not specific to the profile above.

NerdWallet Compare, Inc. NMLS ID# 1617539

NMLS Consumer Access Licenses and Disclosures

California: California Finance Lender loans arranged pursuant to Department of Business Oversight Finance Lenders License #60DBO-74812.

NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are subject to change. These rates do not include taxes, fees and insurance. Your actual rate and loan terms will be determined by the lender’s assessment of your creditworthiness and other factors.

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