Current Mortgage Rates
Compare our competitive mortgage rates to find the best option for your home financing needs.
Last updated: March 12, 2025
| Loan Type | Rate | APR | Points | Est. Fees |
|---|---|---|---|---|
| 30-Year Fixed | 6.125% | 6.250% | 0.0 | $1,500 |
| 15-Year Fixed | 5.375% | 5.500% | 0.0 | $1,500 |
| FHA 30-Year Fixed | 6.000% | 6.125% | 0.5 | $1,800 |
| VA 30-Year Fixed | 5.875% | 6.000% | 0.0 | $1,600 |
| 5/1 ARM | 5.750% | 6.125% | 0.0 | $1,500 |
| 7/1 ARM | 5.875% | 6.125% | 0.0 | $1,500 |
Understanding Mortgage Rates
- •Credit Score: Higher scores typically qualify for better rates
- •Down Payment: Larger down payments can lower your rate
- •Loan Term: Shorter terms usually have lower rates
- •Loan Type: Conventional, FHA, VA, and USDA loans have different rate structures
- •Property Type: Single-family homes often have better rates than condos or investment properties
Interest Rate: The percentage of your loan amount that you pay to borrow money.
Annual Percentage Rate (APR): Reflects the true cost of borrowing, including the interest rate plus other costs such as points, mortgage insurance, and loan origination fees.
The APR is typically higher than the interest rate and provides a more comprehensive view of what you'll pay over the life of the loan.
A rate lock guarantees your interest rate for a specified period, typically 30, 45, or 60 days. This protection ensures your rate won't increase while your loan is being processed.
When to lock: If current rates are favorable or if you're concerned rates might rise, locking as soon as possible may be beneficial.
Float-down option: Some rate locks include a float-down provision, allowing you to secure a lower rate if rates fall during your lock period.
Important Rate Disclosures
Rates shown are based on a 740 credit score with a loan-to-value ratio of 80% for a single-family, owner-occupied property. Rates, terms, and fees are subject to change without notice. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan. These rates are for informational purposes only and are not a commitment to lend.
Ready to Lock in Your Rate?
Apply now to secure your rate or speak with one of our mortgage specialists to find the best option for your needs.