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Compare 10-year ARM Mortgage Rates | Tuesday, May 5, 2026

Rates are current as of May 5, 2026 9:20 AM EDT

National average mortgage rates:
10-Year ARM

APR 6.29%

0.16% 1w
5-Year ARM

APR 6.47%

0.09% 1w
30-Year Fixed

APR 6.29%

0.16% 1w
1 ResultsShowing rates for: Purchase, Good (720-739), $500,000, 10-year ARM, Single-family, Primary residence
License information
1 Results for: Purchase, Good (720-739), $500,000, 10-year ARM, Single-family, Primary residence.
First Federal Bank

NMLS#408902

APR

6.73%

APR

6.73%

Interest rate

6.75%

Est. mo. payment

$2,595/mo

Total fees

$887

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The Nerdy headline

First Federal Bank stands out for its exceptionally low interest rates and its emphasis on government loans. Most likely to appeal to borrowers shopping for low rates and fees.

Home loans overall

NerdWallet rating

4.0

What we like
  • Strong experience in FHA and VA lending.
  • Average mortgage rates are on the low side, according to the latest federal data.
  • Minimum credit score requirement of 580 for some loans, which is lower than some competitors.
What we don't like
  • No mobile app.
  • Home equity lending is not a priority.
  • Does not offer renovation loans, but does offer construction loans.

About these rates: The lenders whose rates appear on this table are NerdWallet's advertising partners. 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 retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner's assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.

Today's 10-year ARM rates | Tuesday, May 5, 2026

Last updated 9:20 AM EDT
On Tuesday morning, May 5, 2026, the average interest rate on a 10-year adjustable-rate mortgage held steady at 6.29% APR, compared to yesterday.
The 10-year ARM rate is 16 basis points higher than one week ago and 46 basis points lower than one year ago.
A basis point is one hundredth of a percent, or 0.01%. We describe mortgage rates’ ups and downs in basis points because they simplify comparisons.
NerdWallet’s rates are expressed as an annual percentage rate, or APR, and our mortgage rates data comes from Zillow.

10-Year ARMs: How They Work and When to Consider One

Find and compare the best mortgage rates for a 10-year adjustable-rate mortgage.

Bella Angelos
Chris Jennings
Bella Angelos
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Written by 

Bella Angelos

,  Edited by 

Chris Jennings

Written by 

Bella Angelos

 and 
1 other
Last updated 05/05/2026
NerdWallet’s mortgage comparison tool can help you compare 10-year ARMs and choose the one that works best for you. Just enter some information and you’ll get customized rate quotes chosen from hundreds of participating lenders. No need to give out any personal information or go through a credit check.

What is a 10-year ARM?

A 10-year adjustable-rate mortgage, also known as a 10/6 ARM, is an adjustable-rate mortgage (ARM) with an interest rate that is initially fixed for 10 years then adjusts every six months.
A 10-year ARM typically begins with a lower introductory rate than a fixed-rate loan. After the initial fixed period, the rate adjusts twice a year based on a variety of economic and financial market factors.Rate adjustments are tied to an interest rate index, which in most cases is the secured overnight financing rate (SOFR), plus a fixed margin set by the lender.

When should you consider a 10-year ARM?

A 10-year ARM makes sense if you plan to refinance your mortgage or sell your house before the introductory rate expires, or if you expect the value of your house to rise quickly.
If you choose a 10-year ARM, you’ll likely be able to qualify for a larger loan because of the lower introductory rate. But be careful, your interest rate and monthly payment will increase after the 10-year introductory period, and it can climb substantially depending on the terms of your specific loan and the broader market.

ARM glossary

  • Index: The benchmark rate that reflects overall market conditions. Most ARMs use the 30-day average SOFR, which can rise or fall over time. The index is used together with the margin to determine your adjustable interest rate. 
  • Margin: A fixed number of percentage points that the lender adds to the index to calculate the interest rate at each adjustment. The margin does not change over the life of the loan. For example, if the index rate is 3.985% and your margin is 2.75 percentage points, your interest rate would be 6.75% after rounding.
  • Rate cap: The maximum amount your loan’s interest rate can increase or decrease at the first adjustment, each time thereafter and over the life of the loan. Rate caps help protect borrowers from large, sudden payment changes.

Learn more about adjustable-rate mortgages:

Latest mortgage news and analysis