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Today's mortgage rates

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

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 5/24/2019

  • CloseYourOwnLoan.com: 30 Yr. Fixed Rate: 4.125%, APR: 4.316%
  • CloseYourOwnLoan.com: 15 Yr. Fixed Rate: 3.750%, APR: 3.941%
  • CloseYourOwnLoan.com: 3/1 Yr. ARM Rate: 3.500%, APR: 4.855%
  • CloseYourOwnLoan.com: 20 Yr. Fixed Rate: 4.250%, APR: 4.401%
  • CloseYourOwnLoan.com: 5/1 Yr. ARM Rate: 3.125%, APR: 4.508%
  • CloseYourOwnLoan.com: 7/1 Yr. ARM Rate: 3.375%, APR: 4.399%
  • CloseYourOwnLoan.com: FHA 30 Yr. Rate: 4.250%, APR: 4.360%
Showing today's mortgage rates for a $150,000 loan in . See rates personalized
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Updated 5/24/2019
CloseYourOwnLoan.com 30 Yr. Fixed
Rates as low as

Rates as low as
4.125%4.316% $ 2,423
RateAPRMonthly Payment
Updated 5/24/2019
CloseYourOwnLoan.com 15 Yr. Fixed
Rates as low as

Rates as low as
3.750%3.941% $ 3,636
RateAPRMonthly Payment
Updated 5/24/2019
CloseYourOwnLoan.com 3/1 Yr. ARM
Rates as low as

Rates as low as
3.500%4.855% $ 2,245
RateAPRMonthly Payment
Updated 5/24/2019
CloseYourOwnLoan.com 20 Yr. Fixed
Rates as low as

Rates as low as
4.250%4.401% $ 3,096
RateAPRMonthly Payment
Updated 5/24/2019
CloseYourOwnLoan.com 5/1 Yr. ARM
Rates as low as

Rates as low as
3.125%4.508% $ 2,142
RateAPRMonthly Payment
Updated 5/24/2019
CloseYourOwnLoan.com 7/1 Yr. ARM
Rates as low as

Rates as low as
3.375%4.399% $ 2,210
RateAPRMonthly Payment
Updated 5/24/2019
CloseYourOwnLoan.com FHA 30 Yr.
Rates as low as

Rates as low as
4.250%4.360% $ 2,460
RateAPRMonthly Payment
Updated 5/24/2019
CloseYourOwnLoan.com FHA 15 Yr.
Rates as low as

Rates as low as
3.500%3.834% $ 3,574
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
  • 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
  • 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

Current Interest Rates Analysis

Mortgage calculators

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


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


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


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

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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.


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