Today's Home Loan and Refinance Rates
Shop home loan and refinance rates for Feb 6, 2023. Find the best loan terms by comparing the APR, interest rate, monthly payments and fees for top-rated lenders near you. Review free, personalized home loan rates based on multiple factors including your location, loan amount, loan program and credit rating. Use the refine your search menu to view updated home loan rates based on your loan amount, down payment, LTV ratio and other inputs. We recommend that you shop at least five lenders to find the home loan with the lowest interest rate and fees. Shopping lenders is the best way to save money on your home loan.%Get Personalized Mortgage Quotes
Compare Today's Home Loan Rates
February 6, 2023
Today's home loan rates are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Home Loan Rates
Average
Shop home loan rates and fees from multiple lenders to find the best terms
How to Shop for a Home Loan
Shopping multiple lenders empowers to save money on your home loan and there are several important items to focus on when you compare home loans. Understand how the items below impact your loan terms so that you can find the home loan with the lowest combination of interest rate and fees.
Credit Profile. Your credit profile, including your score and history, can significantly impact your home loan terms and the programs you are eligible for. Applicants with higher scores and strong profiles typically benefit from lower rates and a wider selection of loan programs. To review the most accurate loan terms, update the search menu to review interest rates that reflect your credit rating.
Fees and Points. In addition to comparing interest rates, it is also important to compare loan fees, including discount points, when you shop for a home loan. Lenders that offer lower rates may charge higher fees, and vice versa. You should also determine if your loan terms include discount points, which are optional for borrowers, to make sure that you are comparing similar proposals. Our home loan lender tables show you both lender fees and discount points.
Loan Term. Your home loan term, or how long your loan is, also impacts your interest rate and monthly payment. The shorter your home loan term, the lower your interest rate but the higher your monthly payment. Selecting a shorter home loan can save you a significant amount of interest expense in the long run.
Loan Size. Larger home loans that are greater than the conforming mortgage limit for your county may charge a higher rate or apply different borrower qualification guidelines. Use our search menu to view updated loan terms based on your specific loan amount and property value.
Rate Lock. Our home loan rate tables indicate the length of the rate lock for the terms provided by each lender. The rate lock is the period of time the terms are good for. The length of the rate lock period may impact your interest rate so it is important to understand this information before you select your lender, especially if interest rates are fluctuating.
Home Loan Type. The loan terms for a home purchase loan may be different than for a refinance. The interest rate for a refinance may be lower so it is important to specify your home loan type when you compare lenders.
APR. The APR (annual percentage rate) listed on our home loan lender tables is a single figure that enables you to compare both interest rate and fees across different lenders. The lower a lender's combined rate and fees, the lower the APR. Comparing APRs can make it easier to find the best loan terms.
Geography. Home loan terms may vary by location due to local regulations and market conditions. Home loan lenders are licensed by state and we recommend that you confirm your state in our search menu to review customized loan terms based on your location.
Lender. Different lenders may specialize in different home loan programs. Additionally, lenders may apply different qualification requirements. That is why we always recommend that you shop multiple lenders for your loan. Contact multiple lenders on our home loan rate tables to find the lender and loan program that are right for you.
Home Loan Rate Summary
Home loan interest rates vary by loan program and other factors. The table below shows the average interest rate and trend for several popular loan programs. Use this information to select the program that best meets your needs.
Reasons to Shop for a Home Loan on FREEandCLEAR
Our home loan and refinance rate tables make it easy to find the loan that is right for you. Simply adjust the search menu for your criteria to review updated, customized loan terms.
All of the resources available on FREEandCLEAR are free to use with no obligation, including our home loan rate tables. This puts you in control when you shop for a home loan.
Studies show that shopping multiple lenders saves you money on your home loan. Our lender tables enable you to quickly compare lenders to find the best loan terms.
More Home Loan and Refinance Resources
Get Pre-Approved
Move with certainty and speed when you are ready to buy a home. Get pre-approved provides a competitive advantage when you shop for a home and enables you to address potential issues before you submit your loan application.
Mortgage Lender Directory
Search over 3,900 lenders and 25 loan programs including multiple no or low down payment programs to find the mortgage that is right for you. Our easy-to-use lender directory enables you to search using multiple criteria including lender type, location and rating.
Home Loan Qualification Calculator
Learn what size home loan you can afford based on your monthly income, debt expenses, interest rate, loan terms and other factors. Understand the home loan you qualify for before you shop for a home.
Home Loan Refinance Calculator
Learn how much you can save by refinancing your current home loan. Compare your current interest rate and monthly payment to your new rate and payment to understand if refinancing makes financial sense.
Ask a Mortgage Expert
Benefit from our mortgage expert's over 45 years of industry experience by asking any mortgage question. No question is to big or small for our expert. Our Ask a Mortgage Expert service is free, confidential and you typically receive a helpful response within one business day.
Mortgage Rates by State
Sources
“Explore interest rates.” CFPB. Consumer Financial Protection Bureau, 2020. Web.