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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.

Mortgage rate trends (APR)

NerdWallet’s mortgage rate insight

3.030%
30-year fixed-rate

On Saturday, April 10th, 2021, the average APR on a 30-year fixed-rate mortgage rose 5 basis points to 3.030%. The average APR on a 15-year fixed-rate mortgage rose 5 basis points to 2.342% and the average APR for a 5/1 adjustable-rate mortgage (ARM) rose 11 basis points to 3.449%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 6 basis points lower than one week ago and 77 basis points lower 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

ProductInterest rateAPR
30-year fixed-rate2.973%3.030%
20-year fixed-rate2.834%2.916%
15-year fixed-rate2.246%2.342%
10-year fixed-rate1.938%2.030%
7/1 ARM2.692%3.286%
5/1 ARM2.794%3.449%
30-year fixed-rate FHA2.612%3.294%
30-year fixed-rate VA2.601%2.886%

Data source: ©Zillow, Inc. 2006 – 2020. Use is subject to the Terms of Use

FHA Refinance Rates

NerdWallet's mortgage rate tool can help you find competitive FHA refinance rates tailored to meet your needs. Just enter some information about the type of loan you're looking for and you'll get a customized rate quote in minutes, without providing any personal information.

What is an FHA loan?

An FHA loan is a mortgage the Federal Housing Administration insures. FHA loans require a smaller a down payment and lower closing costs and allow relaxed lending standards to help homeowners who don't qualify for a conventional mortgage.

What are conditions for an FHA streamline refinance?

Here are five conditions you'll need to know about before beginning an FHA streamline refinance:

  • You can't be delinquent on your current FHA loan. “We have [other] tools for borrowers who can't afford their payments,” Stevens says.
  • You can't take out more than $500 in cash from the refinance.
  • It must be at least six months since your current mortgage was issued.
  • You can't increase your loan amount to cover closing costs.
  • There needs to be a “benefit to the buyer”. That means the FHA is looking for you to reduce your term or lower your mortgage interest rate — or both.

When should you consider an FHA loan?

An FHA loan is the go-to mortgage for many Americans, especially first-time homebuyers and those who have a credit history that's weak or damaged. If your credit score is 'good' or 'fair' rather than 'excellent', if you've had financial difficulties in the past or if you just haven't had time to build a strong history of on-time payments, an FHA loan could be the answer to your mortgage needs. FHA loans are designed for people like you: With FHA backing, which protects the lender in case you default on your mortgage, lenders can broaden their credit standards. If you qualify, you can get a mortgage with as little as 3.5% down.

FHA loans do have up-front and ongoing additional costs built in: You'll have to pay mortgage insurance. This protects the lender's stake in the loan if you default and the premiums increase your monthly payments.

Learn more about FHA loans:

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