Today's mortgage rates

Published: May 23, 2019

Mortgage rates mostly drifted sideways this week, but managed enough of a decline as to have the 30-year FRM match its 2019 low.

A one basis point (0.01%) decline in the average offered rate for a conforming 30-year fixed-rate mortgage was reported by Freddie Mac this week, leaving the rate on the most popular mortgage at 4.06%, a level good enough to be at about 16-month low. Conforming 15-year FRMs were offered at an average rate of 3.51%, down two basis points (0.02) from last week, while hybrid 5/1 ARMs saw their initial fixed interest rate rise by two one-hundredths of a percentage point to 3.68% for the period.

Renewed concern about trade and tariff effects on economic growth has seen investors become a little more pessimistic of late, and it looks as though there is some fresh (if slight) downward pressure on rates at the moment, so somewhat lower rates should be in the market in the coming days.

For more details about what's moving mortgage rates, check out our weekly MarketTrends newsletter. If you like, you can subscribe for delivery via email.

30 Year Fixed

15 Year Fixed

5/1 Year ARM

Source: Freddie Mac

Current Mortgage Rates
Week	03/07	03/14	03/21	03/28	04/04	04/11	04/18	04/25	05/02	05/09	05/16	05/23
30-year-Fixed	4.410%	4.310%	4.280%	4.060%	4.080%	4.120%	4.170%	4.200%	4.140%	4.100%	4.070%	4.060%
15-year-Fixed	3.830%	3.760%	3.710%	3.570%	3.560%	3.600%	3.620%	3.640%	3.600%	3.570%	3.530%	3.510%
5-year-ARM	3.870%	3.840%	3.840%	3.750%	3.660%	3.800%	3.780%	3.770%	3.680%	3.630%	3.660%	3.680%

Source: Freddie Mac

Updated 05/23/2019

What are today's mortgage rates?

Here are Today's Mortgage Rates for 5/25/2019

Quicken Loans: 30 Yr. Fixed Rate: 4.990%, APR: 5.140%
Quicken Loans: 15 Yr. Fixed Rate: 4.250%, APR: 4.405%
CloseYourOwnLoan.com: 3/1 Yr. ARM Rate: 4.250%, APR: 5.178%
Quicken Loans: 20 Yr. Fixed Rate: 4.750%, APR: 4.891%
Quicken Loans: 10 Yr. Fixed Rate: 4.250%, APR: 4.452%
CloseYourOwnLoan.com: 5/1 Yr. ARM Rate: 3.375%, APR: 4.736%
CloseYourOwnLoan.com: 7/1 Yr. ARM Rate: 4.250%, APR: 4.957%
CloseYourOwnLoan.com: VA 30 Yr. Rate: 3.750%, APR: 3.915%

To save more, compare more! On average, people shopping for mortgage rates compared at least 3 quotes.

Ad Disclosure

Updated 5/25/2019

30 Yr. Fixed
Rates as low as

Rates as low as

4.990%

5.140%

$ 836

Rate

APR

Monthly Payment

See mortgage rate details for Quicken Loans

Hide Details

Fees
Loan Profile
Home Value	Not Provided
First Mortgage Balance	Not Provided
Second Mortgage Balance	Not Provided
Cash Out Amount	Not Provided
Requested Loan Amount	$150,000
Lock Period	40 days
Estimated Monthly Payment
Principal and Interest	$805
Mortgage Insurance(estimated)	$31
Total Monthly Payment	$836

About the Lender
We close our loans FAST - many in 30 days or less! Rates are still low, but they may rise. Lock your rate today. We have the right loans for first-time and experienced home buyers.

Updated 5/24/2019
	30 Yr. Fixed Rates as low as	Rates as low as
	3.875%	4.122%	$ 705
	Rate	APR	Monthly Payment

Updated 5/25/2019
	30 Yr. Fixed Rates as low as	Rates as low as
	3.750%	3.973%	$ 695
	Rate	APR	Monthly Payment

Updated 5/25/2019

15 Yr. Fixed
Rates as low as

Rates as low as

4.250%

4.405%

$ 1,155

Rate

APR

Monthly Payment

See mortgage rate details for Quicken Loans

Hide Details

Fees
Loan Profile
Home Value	Not Provided
First Mortgage Balance	Not Provided
Second Mortgage Balance	Not Provided
Cash Out Amount	Not Provided
Requested Loan Amount	$150,000
Lock Period	40 days
Estimated Monthly Payment
Principal and Interest	$1,129
Mortgage Insurance(estimated)	$26
Total Monthly Payment	$1,155

About the Lender
We close our loans FAST - many in 30 days or less! Rates are still low, but they may rise. Lock your rate today. We have the right loans for first-time and experienced home buyers.

Updated 5/24/2019
	15 Yr. Fixed Rates as low as	Rates as low as
	3.500%	3.794%	$ 1,072
	Rate	APR	Monthly Payment

Updated 5/25/2019
	15 Yr. Fixed Rates as low as	Rates as low as
	3.000%	3.369%	$ 1,036
	Rate	APR	Monthly Payment

Updated 5/24/2019
	3/1 Yr. ARM Rates as low as	Rates as low as
	4.250%	5.178%	$ 738
	Rate	APR	Monthly Payment

Mortgage Choices at a Glance
Loan type/terms	Fixed 30 years	Fixed 15 years/ 20 Years	Hybrid ARM	Traditional ARM	Balloon Mortgage
Rate changes	Never; Fully fixed for entire term	Never; Fully fixed for entire term	Usually after fixed period of 3, 5, 7 or 10 years After that, annual change typical	Fully variable Typically changing at one-year intervals Some have shorter change intervals	Never; Fully fixed for entire term
Benefits	Low, stable payment Usually easiest qualification	Stable payments Builds equity faster Lower total interest costs than 30-year term	Lower rates than fully fixed-rate mortgage Can sometimes borrow larger loan amount for same income	Can have lowest interest rates Qualification may not depend upon today's interest rate	Often has lower interest rate/monthly payment over balloon period than fixed rate Similar to hybrid ARM
Drawbacks/Risks	Can have highest total interest cost over time User may "buy" more rate stability than actually needed, increasing cost	Requires higher income to qualify Less affordable monthly payment Funds commited to payment cannot be used elsewhere	Stable payment for a number of years, then unpredictable Rates can jump by as much as 6 percentage points at first adjustment	Payments fluctuate at each rate change Unpredictable, rates can change as much as 2 percentage points at each adjustment	Loan fully due and payable when balloon period ends Must be paid off or refinanced in unknown market conditions
Alternative strategy	Consider Hybrid ARM with appropriate fixed period	Consider 30-year term and prepaying loan to preserve cash-flow flexibility	Consider Fixed rate mortgage or longest possible fixed period, if loan hold period not known	Consider Hybrid ARM to ameliorate rate and payment risks for a given period	Consider Hybrid ARM to ensure continued loan availability
These may be useful for...	Purchasing a home First-time homebuyers Refinancing to improve cash flow/lower payment	Refinancing to lower total interest cost Retiring mortgage more quickly Building or rebuilding equity more quickly	Purchasing or refinancing when time horizon is seven years or shorter, and where borrower can handle increase in monthly payments	Purchasing or refinancing when interest rates are near top of cycle, and are likely to fall, or sale or refinance is anticipated within three years	Purchasing or refinancing when time horizon is three years or longer and home will be sold prior to end of balloon period
Consider if	Buying or refinancing a home and planning on owning for longer than 10 years	Buying second home Refinancing to build equity Paying off mortgage before life event (retirement, etc)	Buying a home and expect to move before fixed period ends, or know income will rise to offset payment risk, even in worst-case scenario	Buying or refinancing when income can handle frequent payment changes and worst-case scenario for rates over a four-year period	Buying a home and expect to move before balloon period ends, or have resources to pay off mortgage if refinance not available
When shopping, ask about	"Full cost" vs. "No cost" refinances, prepaying loan to shorten term if desired	If 20-year term makes payment too high, whether 25-year term is available	Interest rate caps, for first and subsequent adjustments, worst-case scenario	A history of the Index the loan is keyed off, margin and caps	Whether or not there is any built-in refinancing option when the balloon period ends
Useful tools & resources	Mortgage Amortization Calculator	Refinance Calculator	Historical Mortgage Interest Rates	ARM Index Rates	FHA Calculator

Current Interest Rates Analysis

HSH Market Trends

Subscribe to HSH's weekly look at mortgage rates, economic conditions, housing markets, the Federal Reserve and lots more through email every Friday!

MarketTrends 05/17/2019: Fair Data, But Trade Trouble Dents Rates

Submitting your information...

< Go Back

Thank you!

You will shortly receive an email to confirm your subscription; please click the link provided in the email to complete the process.

To read the latest edition, click here.

Two-Month Mortgage Rate Forecast - May 17, 2019

HSH's longer-range outlook for mortgage rates, where we review our last forecast, discuss current market influences and provide our expectations for mortgage rates over the next nine weeks.

Mortgage calculators

Mortgage amortization calculator

HSH.com’s mortgage amortization calculation allows you to calculate your monthly payment as well as your long-term mortgage costs.

Refinance calculator

Plug in your numbers and find out the best way to pay for your refinance – find out how to save the most money.

How much house can I afford?

Qualify yourself for a mortgage amount and maximum home price just like the professionals do.

"LowerRate" mortgage prepayment calculator

Wish you refinanced at the very bottom for mortgage rates? Pick the rate you want and prepay your mortgage to the same savings!

Mortgage rates and more

HSH.com Annual Mortgage Rate Outlook

Our annual outlook and mid-year review of mortgage rates, housing and real estate markets and more.

Historical mortgage rates and historical ARM index rates

HSH.com has surveyed lenders and produced mortgage statistics for over 30 years.

The latest ARM indexes

The latest available index values for Adjustable Rate Mortgages (ARMs). These values are used by lenders and mortgage servicers to calculate the new ARM interest rate.

HSH.com on the latest move by the Federal Reserve

After each FOMC meeting, HSH.com details the latest changes to Fed policy and how it will impact mortgage borrowers.

Loan Term and Type

Page tour

Email:

First Name:

Last Name:

Group:

Today's mortgage rates

Current Mortgage Rates

What are today's mortgage rates?

Here are Today's Mortgage Rates for 5/25/2019

Current Interest Rates Analysis

Loan Term and Type