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Today's 7-year ARM rates | Friday, January 23, 2026
Last updated 3:00 AM EST
On Friday morning, January 23, 2026, the average interest rate on a 7-year adjustable-rate mortgage rose 34 basis points to 6.97% APR, compared to yesterday.
The 7-year ARM rate is 50 basis points higher than one week ago and the same as 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.
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Find and compare the best mortgage rates for a 7-year adjustable-rate mortgage.
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Last updated 01/23/2026
What is a 7-year ARM?
A 7-year adjustable-rate mortgage is an adjustable-rate mortgage (ARM) with an interest rate that is initially fixed for seven years. After seven years are up, the interest rate can change periodically with the broader market.
A 7-year ARM typically begins with a lower introductory rate than a fixed-rate loan. After the initial fixed period, the rate can adjust up or down every six months. The rate adjustments are tied to a benchmark interest rate index, which in most cases is the secured overnight financing rate (SOFR), plus a fixed margin set by the lender. This rate tends to rise when the economy is expanding and fall when the economy weakens.
The 7-year ARM's name may vary by lender. Some institutions call it the 7/6 ARM, where the "7" refers to the starting fixed-rate period in years, and the "6" refers to the number of months between rate adjustments, but many borrowers simply call it a 7-year ARM.
7-year ARM mortgage rates
NerdWallet’s mortgage comparison tool can help you find competitive 7-year ARM rates today, whether you are buying a home or refinancing. In the filters at the top of this page, enter details about the loan you’re looking for, and you can see rate quotes without providing personal information.
Who should consider a 7-year ARM
When the introductory rate on a 7-year ARM is lower than the rate on a 30-year fixed-rate mortgage, your monthly payment on a given loan amount will be lower with a 7-year ARM. That's the main advantage of choosing an ARM. You might be able to qualify for a larger loan because of the low introductory rate.
The main disadvantage of a 7-year ARM is that the interest rate and monthly payment could increase if the index rate rises after the first seven years are up. For this reason, a 7-year ARM makes more sense if you plan torefinance your mortgage or sell your house before the introductory rate expires.
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.
