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Today’s Mortgage Rates

historical interest rates

Calculate Your Mortgage Payments

Quickly calculate your monthly mortgage payment. Gain clarity on your financial planning and make informed decisions with ease.

Mortgage calculator

Total monthly payment

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Discover Your Homebuying Power

Find out how much house you can buy based on your income and expenses. Make informed decisions with a realistic budget.

affordability calculator

Estimated Home Affordability

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payment Details for 1st month
Principle & Interest
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PMI
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Tax
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Homeowners Insurance
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Debt-to-income ratio (DTI)

Your debt-to-income ratio (DTI) would be 43% , meaning 43% of your pretax income would go toward mortgage and other debts. Edit

Discover custom mortgage rate

Your home loan interest rate is calculated based on factors such as your loan amount, income, debt, and credit score. To help us find the best rate for you, please share detailed information about your financial situation.
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FAQS

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What are mortgage rates, and why are they important?

Mortgage rates represent the interest you're charged on a home loan, and they are expressed as an annual percentage. They are pivotal because they directly impact your monthly mortgage payments and the total amount you'll pay for your home over the life of the loan. A small change in the rate can significantly affect your payments and overall cost.

How do mortgage rates fluctuate, and what causes these changes?

Mortgage rates can be influenced by a myriad of factors. Internationally, they might be affected by global economic conditions and policies of major central banks. Domestically, factors such as inflation, economic growth, and the policies of a country's central bank play significant roles. Additionally, individual factors like your credit score, the type of property, and the amount of your down payment can affect the rate you're offered.

What's the difference between fixed-rate and adjustable-rate mortgages (ARMs)?

A fixed-rate mortgage means the interest rate remains constant for the entirety of your loan term, giving you predictable monthly payments. On the other hand, an ARM has an interest rate that adjusts periodically. This adjustment is typically tied to a specific financial index. While ARMs might offer lower initial rates, they carry the risk of the rate (and your payment) increasing in the future.

Are the rates displayed on this page the definitive rates I'll receive?

The rates shown here are average market rates meant to provide a general overview. Your specific rate could differ based on multiple factors, including but not limited to, your credit history, the loan amount, type of property, and market conditions. It's always advisable to speak with a mortgage advisor for a tailored rate quote.

Are there hidden costs or fees associated with these mortgage rates?

Mortgage rates are just one component of the total cost of a home loan. There can be various fees such as origination fees, appraisal fees, and closing costs. Always inquire about the full range of fees associated with a particular mortgage product to ensure transparency and avoid surprises.

How can I lock in a mortgage rate, and why is it crucial?

Locking in a rate means securing a specific interest rate before it rises. To do this, you usually begin the loan application process and formally request a rate lock from your lender. This process is vital as it ensures your rate won't change between the time you're approved for the loan and the time you close on your home, giving you certainty in terms of your future monthly payments. We recommend every prospective homeowner to "Schedule a call" with our Loan Officer to ensure they understand all facets of their mortgage agreement. If you have further questions, we're here to assist!

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