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Today's mortgage rates

Latest Rate Analysis

As summer nears a close, fixed-rate mortgages have returned to the season's high water mark.

Freddie Mac reported today that the average offered rate for a 30-year fixed-rate mortgage rose by six basis points (0.06%), rising to an average of 4.60% and matching a summer peak reached six weeks ago. Fifteen-year FRMs climbed by seven basis points (0.07%), climbing to an average of 4.06%, also a six-week high. The initial fixed rate for a hybrid 5/1 ARM remained unchanged at 3.93%, but this figure is good enough to be about an eight-year high.

Solid economic data showing firming wages and inflation at or even slightly above the Fed's 2% limit are contributing to the upward pressure for interest rates. The next Fed meeting and FOMC member reassessments of near-term and expected trends for the economy, inflation and monetary policy are just two weeks away; there yet remains some upward pressure on mortgage rates, and we expect that they will continue to edge higher in the coming days.

For more complete weekly analysis, check out HSH's weekly MarketTrends newsletter.

30 Year Fixed
15 Year Fixed
5/1 Year ARM
Source: Freddie Mac
Weekly Rates
06/2807/0507/1207/1907/2608/0208/0908/1608/2308/3009/0609/13
30-year-Fixed 4.550% 4.520% 4.530% 4.520% 4.540% 4.600% 4.590% 4.530% 4.510% 4.520% 4.540% 4.600%
15-year-Fixed 4.040% 3.990% 4.020% 4.000% 4.020% 4.080% 4.050% 4.010% 3.980% 3.970% 3.990% 4.060%
5-year-ARM 3.870% 3.740% 3.860% 3.870% 3.870% 3.930% 3.900% 3.870% 3.820% 3.850% 3.930% 3.930%
Source: Freddie Mac
Updated 09/13/2018
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30 Year Fixed
Updated 9/18/2018
LoanDepot, LLC 30 Yr. Fixed
5.250%5.250%$1,105
RateAPRMonthly Payment
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$1,105
Total Monthly Payment$1,105

About the Lender

  • Get a free and no obligation rate quote in Virginia.
  • Direct Lender.
  • Call now and lock-in your low rate!
Updated 9/18/2018
Quicken Loans 30 Yr. Fixed
4.990%5.041%$1,073
RateAPRMonthly Payment
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period40 days
Estimated Monthly Payment
Principal and Interest$1,073
Total Monthly Payment$1,073

About the Lender

  • Refinance to a get a lower payment, cash back or a faster payoff.
  • 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 9/14/2018
The Money Source 30 Yr. Fixed
4.125%4.041%$969
RateAPRMonthly Payment
Updated 9/13/2018
CloseYourOwnLoan.com 30 Yr. Fixed
4.250%4.481%$984
RateAPRMonthly Payment
Updated 9/18/2018
First Internet Bank of Indiana 30 Yr. Fixed
4.625%4.668%$1,029
RateAPRMonthly Payment
Call Now
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$1,029
Total Monthly Payment$1,029

About the Lender

  • Competitive rates and fees: No fancy branches = savings passed on to you!
  • Excellent service: We can assist you every step along the way.
  • Credible: FDIC Insured Bank, A+ rating with Better Business Bureau. NMLS 424182

Call Now
866-229-7608

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15 Year Fixed
Updated 9/18/2018
LoanDepot, LLC 15 Yr. Fixed
4.750%4.750%$1,556
RateAPRMonthly Payment
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$1,556
Total Monthly Payment$1,556

About the Lender

  • Get a free and no obligation rate quote in Virginia.
  • Direct Lender.
  • Call now and lock-in your low rate!
Updated 9/18/2018
Quicken Loans 15 Yr. Fixed
4.500%4.586%$1,530
RateAPRMonthly Payment
Show Details
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period40 days
Estimated Monthly Payment
Principal and Interest$1,530
Total Monthly Payment$1,530

About the Lender

  • Refinance to a get a lower payment, cash back or a faster payoff.
  • 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 9/14/2018
The Money Source 15 Yr. Fixed
4.000%4.147%$1,479
RateAPRMonthly Payment
Updated 9/13/2018
CloseYourOwnLoan.com 15 Yr. Fixed
3.500%3.900%$1,430
RateAPRMonthly Payment
Updated 9/18/2018
First Internet Bank of Indiana 15 Yr. Fixed
4.125%4.199%$1,492
RateAPRMonthly Payment
Call Now
Show Details
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$1,492
Total Monthly Payment$1,492

About the Lender

  • Competitive rates and fees: No fancy branches = savings passed on to you!
  • Excellent service: We can assist you every step along the way.
  • Credible: FDIC Insured Bank, A+ rating with Better Business Bureau. NMLS 424182

Call Now
866-229-7608

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3/1 Year ARM
Updated 9/13/2018
CloseYourOwnLoan.com 3/1 Yr. ARM
3.375%4.127%$884
RateAPRMonthly Payment
20 Year Fixed
Updated 9/18/2018
LoanDepot, LLC 20 Yr. Fixed
5.250%5.250%$1,348
RateAPRMonthly Payment
Show Details
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$1,348
Total Monthly Payment$1,348

About the Lender

  • Get a free and no obligation rate quote in Virginia.
  • Direct Lender.
  • Call now and lock-in your low rate!
Updated 9/18/2018
Quicken Loans 20 Yr. Fixed
4.875%4.944%$1,307
RateAPRMonthly Payment
Show Details
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period40 days
Estimated Monthly Payment
Principal and Interest$1,307
Total Monthly Payment$1,307

About the Lender

  • Refinance to a get a lower payment, cash back or a faster payoff.
  • 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 9/13/2018
CloseYourOwnLoan.com 20 Yr. Fixed
4.250%4.569%$1,238
RateAPRMonthly Payment
Updated 9/18/2018
First Internet Bank of Indiana 20 Yr. Fixed
4.500%4.559%$1,266
RateAPRMonthly Payment
Call Now
Show Details
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$1,266
Total Monthly Payment$1,266

About the Lender

  • Competitive rates and fees: No fancy branches = savings passed on to you!
  • Excellent service: We can assist you every step along the way.
  • Credible: FDIC Insured Bank, A+ rating with Better Business Bureau. NMLS 424182

Call Now
866-229-7608

Updated 9/18/2018
Rocket Mortgage 20 Yr. Fixed
4.750%4.818%$1,293
RateAPRMonthly Payment
Show Details
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period40 days
Estimated Monthly Payment
Principal and Interest$1,293
Total Monthly Payment$1,293

About the Lender

  • Fast, Powerful and Completely Online
  • Get an approval to buy a home or refinance your mortgage in minutes.
  • Save time & avoid paperwork by sharing your financial info instantly.
10 Year Fixed
Updated 9/18/2018
Quicken Loans 10 Yr. Fixed
4.500%4.624%$2,073
RateAPRMonthly Payment
Show Details
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Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period40 days
Estimated Monthly Payment
Principal and Interest$2,073
Total Monthly Payment$2,073

About the Lender

  • Refinance to a get a lower payment, cash back or a faster payoff.
  • 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 9/13/2018
CloseYourOwnLoan.com 10 Yr. Fixed
4.125%4.501%$2,037
RateAPRMonthly Payment
Updated 9/18/2018
First Internet Bank of Indiana 10 Yr. Fixed
4.125%4.232%$2,037
RateAPRMonthly Payment
Call Now
Show Details
Hide Details

Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$2,037
Total Monthly Payment$2,037

About the Lender

  • Competitive rates and fees: No fancy branches = savings passed on to you!
  • Excellent service: We can assist you every step along the way.
  • Credible: FDIC Insured Bank, A+ rating with Better Business Bureau. NMLS 424182

Call Now
866-229-7608

Updated 9/18/2018
Rocket Mortgage 10 Yr. Fixed
4.375%4.499%$2,061
RateAPRMonthly Payment
Show Details
Hide Details

Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period40 days
Estimated Monthly Payment
Principal and Interest$2,061
Total Monthly Payment$2,061

About the Lender

  • Fast, Powerful and Completely Online
  • Get an approval to buy a home or refinance your mortgage in minutes.
  • Save time & avoid paperwork by sharing your financial info instantly.
5/1 Year ARM
Updated 9/14/2018
The Money Source 5/1 Yr. ARM
4.625%4.433%$1,028
RateAPRMonthly Payment
Updated 9/13/2018
CloseYourOwnLoan.com 5/1 Yr. ARM
3.375%4.037%$884
RateAPRMonthly Payment
Updated 9/18/2018
First Internet Bank of Indiana 5/1 Yr. ARM
4.625%4.985%$1,029
RateAPRMonthly Payment
Call Now
Show Details
Hide Details

Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$1,029
Total Monthly Payment$1,029

About the Lender

  • Competitive rates and fees: No fancy branches = savings passed on to you!
  • Excellent service: We can assist you every step along the way.
  • Credible: FDIC Insured Bank, A+ rating with Better Business Bureau. NMLS 424182

Call Now
866-229-7608

7/1 Year ARM
Updated 9/13/2018
CloseYourOwnLoan.com 7/1 Yr. ARM
3.625%4.078%$912
RateAPRMonthly Payment
Updated 9/18/2018
First Internet Bank of Indiana 7/1 Yr. ARM
4.625%4.927%$1,029
RateAPRMonthly Payment
Call Now
Show Details
Hide Details

Fees

Loan Profile
Home ValueNot Provided
First Mortgage BalanceNot Provided
Second Mortgage BalanceNot Provided
Cash Out AmountNot Provided
Requested Loan Amount$200,000
Lock Period30 days
Estimated Monthly Payment
Principal and Interest$1,029
Total Monthly Payment$1,029

About the Lender

  • Competitive rates and fees: No fancy branches = savings passed on to you!
  • Excellent service: We can assist you every step along the way.
  • Credible: FDIC Insured Bank, A+ rating with Better Business Bureau. NMLS 424182

Call Now
866-229-7608

FHA 30 Year and 15 Year
Updated 9/13/2018
CloseYourOwnLoan.com FHA 30 Yr.
3.500%3.721%$898
RateAPRMonthly Payment
Updated 9/13/2018
CloseYourOwnLoan.com FHA 15 Yr.
3.625%3.883%$1,442
RateAPRMonthly Payment
VA 30 Year
Updated 9/13/2018
CloseYourOwnLoan.com VA 30 Yr.
4.125%4.355%$969
RateAPRMonthly Payment
Mortgage Choices at a Glance
Loan type/termsFixed 30 yearsFixed 15 years/
20 Years
Hybrid ARMTraditional ARMBalloon 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

Latest mortgage rate analysis

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.