The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.267%, a decrease of about a basis point from the day before, according to data from mortgage data company Optimal Blue.
Meanwhile, the average rate for a 15-year, fixed-rate conforming mortgage loan is 5.802%, up about 24 basis points for the same period.
Compare mortgage rates for April 14, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on April 13, reflecting rates for loans locked in as of April 10.
What you’d pay in interest with where rates are at today
We ran the numbers through the mortgage calculator provided by the federal government’s Office of Financial Readiness. At the current rate of 6.267%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $366,169.31 in interest over the life of the loan.
On a 15-year mortgage with the same loan amount used for the estimate, you’d pay roughly $149,926.50 in interest over the life of the loan at the current rate of 5.802%.
Read on to see how mortgage rates have changed day over day.
30-year conventional mortgage: Down about 1 basis points
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.267%. That’s down from 6.276% on the last day’s report.
15-year conventional mortgage: Up about 24 basis points
This type of mortgage is popular with homeowners seeking to minimize interest payments over the life of their loan.
The current average 15-year mortgage rate is 5.802%. That’s up from 5.561% on the last day’s report.
30-year jumbo mortgage: Down about 4 basis points
A jumbo mortgage is one that exceeds the conforming loan limits set by the Federal Housing Finance Agency. While the limit can vary in certain high-cost-of-living-areas, in most of the U.S., it’s $832,750 for 2026.
The current average rate on a 30-year jumbo loan is 6.515%. That’s down from 6.557% on the last day’s report.
30-year FHA mortgage: Up about 4 basis points
This type of mortgage is oftentimes more accessible to borrowers with slightly lower credit scores than conventional mortgages. Lenders are protected because these loans are insured by the Federal Housing Administration.
The current average rate on a 30-year FHA home loan is 6.107%. That’s up from 6.067% on the last day’s report.
30-year VA mortgage: Down about 6 basis points
These loans are, in general, available to U.S. military members and veterans and surviving spouses. One attractive feature is that they have no minimum down payment requirement, unlike most other mortgage types.
The current average rate on a 30-year VA home loan is 5.824%. That’s down from 5.875% on the last day’s report.
30-year USDA mortgage: Down about 2 basis points
A USDA loan is meant to help low- to moderate-income borrowers purchase a home in an eligible rural area. Like VA loans, USDA loans have no minimum down payment requirement.
The current average rate on a 30-year USDA home loan is 5.941%. That’s down from 5.962% on the last day’s report.
What the Federal Reserve is doing in 2026
While the Fed does not set mortgage rates directly, it does set the federal funds rate, and that tends to influence rates on products such as mortgages.
The federal funds rate is what banks charge each other to borrow money overnight. When the Fed hikes this benchmark rate, rates on mortgages and other financial products often go up accordingly. And when the Fed decreases this rate, interest rates on mortgages and similar products are likely to decrease as well.
At its most recent meeting March 17-18, the Federal Open Market Committee left the federal funds rate where it was at 3.50% – 3.75%. The FOMC has another meeting coming up on April 28-29.
The historical low for an average mortgage rate was 2.65% in January 2021. But this came after the Fed had dropped the federal funds rate to effectively zero in 2020 in an effort to combat recession as the country battled the coronavirus pandemic.
Barring a major disaster, experts do not expect mortgage rates to go that low again in the foreseeable future.
Trends with mortgage applications
Mortgage applications are down overall, according to data from the Mortgage Bankers Association. It’s a relatively small dip—applications were down 0.8% for the week ending April 3 compared to a week prior.
“Higher mortgage rates and continued economic uncertainty weighed down on mortgage applications again last week,” Joel Kan, MBA’s vice president and deputy chief economist, said in a news release.
Kan added that the pace of mortgage refi applications is lower than it’s been since December 2025.
But, there are still opportunities for savvy homebuyers with a bit of luck—for example, it may be possible for some applicants to snag a competitive rate on a home loan backed by the Federal Housing Administration, or get a relatively low intro rate on an adjustable-rate mortgage. Kan noted in the release that “certain loan types and geographic segments are faring better than others because of lower rates on ARM and FHA loans as well as growing housing inventory in some local markets.”
Recent reporting on the housing market from Fortune
Want to make sure you know what’s going on in the economy? The Fortune newsroom has you covered:
- Turns out the American middle class didn’t die. It got richer—and felt poorer
- The ‘affordability economy’ has created a housing market nobody predicted: Prices collapsing in the Sunbelt, soaring in the Rust Belt
- A Wall Street bank is giving workers earning under $100K over $6,000 in cash to get on the property ladder
- Gen Z is rewriting the American Dream, and their parents are funding it—using tuition money for down payments, instead
- Gen Z fled San Francisco for Texas and Florida. Now they’re turning ‘welcomer cities’ into the next big tech towns
- Jamie Dimon says the American Dream is ‘slipping out of reach’—and JPMorgan is spending billions to fix it
- Bill Ackman told spooked investors to get over the Iran war and buy Fannie and Freddie. Stocks surged 40% the next day
Why you should comparison shop
Comparison shopping for the best mortgage for you can make a tangible difference in what you pay. According to Freddie Mac, when rates are high, homebuyers who apply with multiple mortgage lenders might save anywhere from $600 to $1,200 per year.
When you comparison shop, bear in mind you’re looking at two things. One is applying with different lenders to see who can offer you the best rate, service that aligns with your expectations, etc. The other is considering different types of home loans.
Someone who has excellent credit might get the best deal with a conventional mortgage. But, for someone with a credit score under 600, an FHA home loan might offer a chance for approval whereas seeking a conventional mortgage would likely result in a rejection.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
Not entirely. Your APR includes your interest rate plus any applicable fees, meaning APR will generally be higher than interest rate alone.
What’s a good mortgage rate in April 2026?
With the average rate for a 30-year conventional mortgage hovering well above 6.00% lately, scoring a rate just above 6.00% means you’re doing fine.
Will mortgage rates go down?
It’s possible but far from certain. Mortgage rates might decrease slightly if the Federal Reserve decides to lower the federal funds rate in 2026. But there are other factors influencing mortgage rates too, including inflation, the national debt, and how much demand there is for home loans.
