7.060% APR

Compare Today's 30-Year Fixed Mortgage Rates

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Applied Filters: Good (720-739), 30-year fixed, Single family home, Primary residence.

License information10 results:

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30-year fixed

Better

Better: NMLS#330511

Lowest APR

Lowest monthly payment

Great for digital convenience

Conventional 30-year fixed

Better

4.5

NerdWallet rating

APR

6.924%

Interest rate

6.875%

Mo. payment

$2,628

Insurance $0

Total fees

$2,000

About this lender

Visit lender's website

Pros

Offers a one-day mortgage that lets eligible borrowers apply, lock in a rate and get a loan commitment within 24 hours.
Average interest rates are on the low end compared to other lenders, according to the latest federal data.
Offers a HELOC that can be used for a primary, second or investment home.

Cons

Doesn't offer harder-to-find loans, such as construction loans, renovation loans, or USDA mortgages.
Finding descriptions of all of the loan offerings on the website requires some digging, and the lender does not have a mobile app.
Average lender fees are on the high end compared with other lenders, according to the latest federal data.

Tomo

Top 3 most visited on NerdWallet 🏆

on Tomo

Tomo: NMLS#2059741

Great for Mortgage rate transparency

Conventional 30-year fixed

Tomo

4.0

NerdWallet rating

APR

7.063%

Interest rate

7%

Mo. payment

$2,662

Insurance $0

Total fees

$2,528

About this lender

Visit lender's website

Pros

Special program offers a pricing break for first first-time home buyers.
Offers financing options for self-employed borrowers and those without Social Security numbers.
Interactive mortgage rates tool takes credit score and location into account.

Cons

Purchase loans are not available in all states.
Doesn’t offer home equity loans or lines of credit.
No refinancing options are available.

Mutual of Omaha

Mutual of Omaha: NMLS#1025894

Great for Loan variety

Conventional 30-year fixed

Mutual of Omaha

3.5

NerdWallet rating

APR

7.125%

Interest rate

7.125%

Mo. payment

$2,695

Insurance $0

Total fees

$0

About this lender

Visit lender's website

Pros

Offers a variety of mortgage options, including jumbo loans and FHA, VA and USDA loans.
Offers $3,000 grant to buyers in some areas.
Loans are available for construction, renovations and manufactured homes.

Cons

You’ll have to contact the lender for mortgage rates.
Doesn’t offer mortgages in all 50 states.
Home equity loans and lines of credit are not available.

NBKC

Top 3 most visited on NerdWallet 🏆

NBKC: NMLS#409631

Great for first-time home buyers | digital convenience | customer service

Conventional 30-year fixed

NBKC

4.5

NerdWallet rating

APR

7.146%

Interest rate

7.125%

Mo. payment

$2,695

Insurance $0

Total fees

$855

About this lender

Visit lender's website | Call (888) 871-2381

Pros

Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
Offers low rates and fees compared with other lenders, according to the latest federal data.
Displays customized rates, with fee estimates, without requiring contact information.

Cons

HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.

First Federal Bank

First Federal Bank: NMLS#408902Conventional 30-year fixed

First Federal Bank

3.5

NerdWallet rating

APR

7.146%

Interest rate

7.125%

Mo. payment

$2,695

Insurance $0

Total fees

$831

About this lender

Visit lender's website

Pros

Offers government-backed loans and some harder-to-find products, such as jumbo loans for investment and multifamily properties.
Home renovation loans are available.
Offers home equity loans and lines of credit.

Cons

Mortgage rates are not published online.
Bank branches are limited to eight states.
Consumers might have trouble finding contact information.

New American Funding

New American Funding: NMLS#6606

Great for first-time home buyers | customer service

Conventional 30-year fixed

New American Funding

4.0

NerdWallet rating

APR

7.166%

Interest rate

7.125%

Mo. payment

$2,695

Insurance $0

Total fees

$1,629

About this lender

Visit lender's website | Call (888) 978-8131

Pros

Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
Its home equity line of credit can be used for an owner-occupied or second home.
Has a program to enable buyers to make cash offers.
Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

Mortgage origination fees tend to be on the high end.
Personalized mortgage rates are not available on the website without providing contact information.

Central Bank

Central Bank: NMLS#407985Conventional 30-year fixed

Central Bank

4.0

NerdWallet rating

APR

7.273%

Interest rate

7.25%

Mo. payment

$2,729

Insurance $0

Total fees

$920

About this lender

Visit lender's website

Pros

Among the best when it comes to online convenience.
Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
Claims to offer preapproval within 24 hours of loan application.

Cons

You'll have to complete a loan application to see mortgage interest rates.
Bank branch locations limited to the Midwest.
Does not offer home equity lines of credit.

on HSBC Bank

HSBC Bank: NMLS#399799Conventional 30-year fixed

5.0

NerdWallet rating

APR

7.508%

Interest rate

7.5%

Mo. payment

$2,797

Insurance $0

Total fees

$323

About this lender

Visit lender's website

Pros

Offers an online application and loan process updates.
Offers mortgages for investment properties.
Makes it easy to browse current rates and get a customized mortgage rate quote.

Cons

Does not offer FHA or VA government-backed loans.
No renovation mortgage options.

Bethpage Federal Credit Union

on Bethpage Federal Credit Union

Bethpage Federal Credit Union: NMLS#449104Conventional 30-year fixed

Bethpage Federal Credit Union

4.0

NerdWallet rating

APR

7.664%

Interest rate

7.625%

Mo. payment

$2,832

Insurance $0

Total fees

$1,520

About this lender

Visit lender's website

Pros

Has a fully online mortgage application and a highly rated mobile app.
Offers financing for co-ops, a type of home that’s common on the East Coast.
Interest rates are on the low side, according to the latest federal data.

Cons

In-person service available only on Long Island, New York.
Doesn’t offer renovation, construction-to-permanent or USDA loans.
Customized rates not available online.

Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

Great for digital convenience | customer service

Conventional 30-year fixed

Rocket Mortgage, LLC

4.0

NerdWallet rating

APR

8.283%

Interest rate

8.25%

Mo. payment

$3,006

Insurance $0

Total fees

$1,250

About this lender

Visit lender's website

Pros

Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
Offers the option to work with loan officers by phone if desired.
Largest FHA lender in the nation.

Cons

Getting a customized interest rate requires a credit check, which can affect your credit score.
Origination fees are on the high side compared with other lenders, according to the latest federal data.
Doesn't offer home equity lines of credit.

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.

Trends and Insights

Mortgage rate trends (APR)

NerdWallet’s mortgage rate insight

7.060%

30-year fixed-rate

“

On Saturday, May 4, 2024, the average APR on a 30-year fixed-rate mortgage fell 5 basis points to 7.060%. The average APR on a 15-year fixed-rate mortgage fell 5 basis points to 6.162% and the average APR for a 5-year adjustable-rate mortgage (ARM) fell 19 basis points to 7.754%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 27 basis points lower than one week ago and 60 basis points higher than one year ago.

A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR.

Current mortgage and refinance rates

Accurate as of 05/04/2024

Product	Interest Rate	APR
30-year fixed-rate	6.981%	7.060%
20-year fixed-rate	6.761%	6.863%
15-year fixed-rate	6.026%	6.162%
10-year fixed-rate	5.907%	6.103%
7-year ARM	7.258%	7.878%
5-year ARM	6.717%	7.754%
3-year ARM	8.125%	8.355%
30-year fixed-rate FHA	5.852%	6.666%
30-year fixed-rate VA	6.167%	6.454%

Data source: ©Zillow, Inc. 2006 - 2021. Use is subject to the Terms of Use

Best Mortgage Lenders

Lender	NerdWallet Rating	Min. credit score	Min. down payment	Learn more
NBKC: NMLS#409631 Learn more at NBKC at NBKC	5.0 /5 FHA loans Best for FHA and VA loans	620	3.5%	Learn more at NBKC at NBKC
Guaranteed Rate: NMLS#2611 Learn more at Guaranteed Rate at Guaranteed Rate	5.0 /5 Home loans overall Best for first-time home buyers, jumbo loans and HELOCs	620	3%	Learn more at Guaranteed Rate at Guaranteed Rate
Alliant: NMLS#197185 Read review	5.0 /5 Jumbo loans Best for jumbo loans and cash-out refinancing	620	5%	Read review
Andrews Federal Credit Union: NMLS#410421 Read review	5.0 /5 Home loans overall Best for first-time home buyers	620	3%	Read review
PNC: NMLS#446303 Read review	5.0 /5 Home loans overall Best for first-time home buyers, FHA and jumbo loans, HELOCs, and cash-out refinancing	620	3%	Read review

A Beginner’s Guide to 30-Year Mortgages

By

Last updated on April 16, 2024

Reviewed by

Michelle Blackford

Reviewed by

What is a 30-year mortgage?

A 30-year fixed-rate mortgage is the most common term, or length in number of years, of a home loan. It provides the security of a consistent principal and interest payment, and the flexibility to afford a larger mortgage loan because the payments are lower than for a shorter-term mortgage for the same amount.

How to find 30-year mortgage rates today

Today's mortgage rates can be found via NerdWallet’s mortgage rate tool at the top of this page. It can help you find 30-year fixed mortgage rates today that are tailored to meet your needs. In the filters above, enter details about the loan you’re looking for, and you can see an interest rate quote without providing personal information.

30-year mortgage rates vary over time and by lender

Interest rates for 30-year mortgages vary day to day and even hour by hour. You can save money by comparison shopping because each lender offers its own combination of interest rate and fees.The loan offer with the lowest interest rate isn't necessarily the best. Lenders charge fees to offset expenses and add to their bottom lines. These closing costs can vary a lot from one lender to another, and they aren't necessarily spelled out until you formally apply for a loan.

2:12

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How to compare mortgage offers

If you’re approved, each lender will provide you with a Loan Estimate form. This will let you compare interest rates, origination fees and closing costs, giving you confidence that you’re getting the right loan for your situation

The Loan Estimate is a three-page document that provides the loan's details, projected payments and closing costs. Page 3 of the Loan Estimate has a section labeled "Comparisons." It's designed to simplify comparing loan offers. It provides three subheadings:

"In 5 Years" totals how much you would spend on the mortgage in its first five years, including closing costs, principal, interest and mortgage insurance. A lower number is better.
"Annual Percentage Rate (APR)" is a way to express the interest rate that takes closing costs into account. A lower APR is better.
"Total Interest Percentage (TIP)" measures the total interest you would pay as a percentage of the loan amount. A lower TIP is better.

A Freddie Mac report concluded that a typical borrower can expect to save $600 to $1,200 annually by comparison-shopping four lenders instead of applying with just one lender.

Pros and cons of a 30-year fixed mortgage

The 30-year fixed mortgage is the most popular term of home loan. It meets the needs of many borrowers, but some people prefer shorter loan terms. Here are benefits and drawbacks of the 30-year fixed:

Pros

Lower payments. Because they’re spread out over 30 years, the monthly payments on a 30-year fixed mortgage are lower than for loans with shorter terms.
Flexibility. If your monthly budget allows, you can make extra payments to pay off the loan faster. When money is tight, you can make the minimum payments.
Predictability. Because it’s a fixed rate, the monthly principal and interest payments are the same over the life of the loan. Property taxes and insurance can change over time, though.
Bigger loan. Because monthly payments on a 30-year loan are smaller than on a shorter-term loan (such as 20 or 15 years), you can borrow more.

Cons

Higher interest rate. Because the lender is tying up its money longer, 30-year fixed mortgage rates are higher than on loans with shorter terms, such as 15 years.
More interest overall. You pay more interest over the life of a 30-year mortgage because you make more payments.
You risk borrowing too much. A 30-year loan lets you borrow more, which could tempt you into taking out a loan that’s too big. Or you might be able to afford the monthly payments, but lack money for vacations, dining out and other discretionary spending.

» MORE: Compare a 30-year mortgage to a 15-year loan

How mortgage rates are set

Mortgage rates are determined by market forces: Bad economic or global political worries can move mortgage rates lower. Good news can push rates higher.

Lenders fine-tune your mortgage rate based on risk. The higher your credit score and the bigger your down payment, the lower your mortgage tends to be.

» MORE: Get your credit score for free

The difference between interest rate and APR

The interest rate is the percentage that the lender charges for borrowing the money. The APR, or annual percentage rate, takes fees and discount points into account.

APR is a tool used to compare loan offers, even if they have different interest rates, fees and discount points.

Learn more about fixed-rate loans:

About the author: Holden is NerdWallet's authority on mortgages and real estate. He has reported on mortgages since 2001, winning multiple awards.

Article sources

NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.

Consumer Financial Protection Bureau. Seven factors that determine your mortgage interest rate. Accessed Apr 11, 2024.

Freddie Mac. Research Brief: When Rates Are Higher, Borrowers Who Shop Around Save More. Accessed Apr 11, 2024.

Consumer Financial Protection Bureau. TILA RESPA Integrated Disclosure. Accessed Apr 11, 2024.

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