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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
NerdWallet’s mortgage rate insight
On Tuesday, August 9th, 2022, the average APR on a 30-year fixed-rate mortgage fell 7 basis points to 5.288%. The average APR on a 15-year fixed-rate mortgage rose 3 basis points to 4.583% and the average APR for a 5-year adjustable-rate mortgage (ARM) fell 4 basis points to 4.527%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 6 basis points higher than one week ago and 238 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
| Product | Interest rate | APR |
|---|---|---|
| 30-year fixed-rate | 5.196% | 5.288% |
| 20-year fixed-rate | 4.874% | 4.986% |
| 15-year fixed-rate | 4.420% | 4.583% |
| 10-year fixed-rate | 4.018% | 4.202% |
| 7-year ARM | 5.397% | 4.749% |
| 5-year ARM | 5.301% | 4.527% |
| 3-year ARM | 2.340% | 3.371% |
| 30-year fixed-rate FHA | 4.192% | 4.963% |
| 30-year fixed-rate VA | 4.522% | 4.895% |
Data source: ©Zillow, Inc. 2006 – 2021. Use is subject to the Terms of Use
About the author: Holden Lewis is a mortgage reporter and spokesperson who joined NerdWallet in 2017. He previously wrote for Bankrate, where he wrote about mortgages and real estate during the housing boom and bust. He has written articles about mortgages since 2001, and enjoys explaining complex topics to regular people who don't buy houses every day. Holden has been president of the National Association of Real Estate Editors and has won numerous writing awards. He splits his time between Jupiter, Florida, and Fort Worth, where he is renovating the house where he spent his high school years so he can move back and be a Texan again.
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