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Compare 7-year ARM Mortgage Rates | Monday, July 20, 2026

Rates are current as of July 20, 2026 3:00 AM EDT

National average mortgage rates:
7-Year ARM

APR 6.40%

-0.06% 1w
10-Year ARM

APR 6.52%

0.03% 1w
30-Year Fixed

APR 6.52%

0.03% 1w
3 ResultsShowing rates for: Purchase, Good (720-739), $500,000, 7-year ARM, Single-family, Primary residence
License information
3 Results for: Purchase, Good (720-739), $500,000, 7-year ARM, Single-family, Primary residence.
NBKC

NMLS#409631

APR

6.58%

APR

6.58%

Interest rate

6.63%

Est. mo. payment

$2,569/mo

Total fees

$1,955

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The Nerdy headline

NBKC stands out for its attractive interest rates and fees, and is primarily an online lender — though its app does not have mortgage features.

Home loans overall

NerdWallet rating

4.5

What we like
  • Competitive interest rates and fees.
  • Offers most common loan types, as well as a handful of specialty loans.
  • Payouts are available to borrowers whose loans don’t close on time.
What we don't like
  • Customer service is only accessible over the phone for many mortgage customers.
  • Does not offer renovation loans.
  • Home equity products are not currently a lending priority.
First Federal Bank

NMLS#408902

APR

6.84%

APR

6.84%

Interest rate

6.99%

Est. mo. payment

$2,659/mo

Total fees

$1,091

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The Nerdy headline

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

Home loans overall

NerdWallet rating

5.0

What we like
  • Strong experience in FHA and VA lending.
  • APRs tend to be competitive, 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
  • Home equity lending is not a priority.
  • Does not offer renovation loans, but does offer construction loans.
Central Bank

NMLS#407985

APR

6.86%

APR

6.86%

Interest rate

6.99%

Est. mo. payment

$2,659/mo

Total fees

$1,690

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Hide details

The Nerdy headline

Midwest-rooted Central Bank offers an online application, which you can track via mobile app. But you’ll have to contact the bank for mortgage rates.

Home loans overall

NerdWallet rating

4.0

What we like
  • 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.
What we don't like
  • 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.

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 7-year ARM rates | Monday, July 20, 2026

Last updated 3:00 AM EDT
On Monday morning, July 20, 2026, the average interest rate on a 7-year adjustable-rate mortgage fell eight basis points to 6.4% APR, compared to yesterday.
The 7-year ARM rate is six basis points lower than one week ago and 88 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.

What to Know About 7-year ARM Mortgage Rates

Find and compare the best mortgage rates for a 7-year adjustable-rate mortgage.

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.

Holden Lewis
Chris Jennings
Holden Lewis
+1
Written by 

Holden Lewis

,  Edited by 

Chris Jennings

Written by 

Holden Lewis

 and 
1 other
Last updated 07/20/2026

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 to refinance 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.

Learn more about adjustable-rate mortgages:

Latest mortgage news and analysis