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All rates in this article are daily averages based on Better Mortgage data, not APRs. Real rates and APRs vary by borrower.
Mortgage rates today are holding near their lowest level in roughly six weeks. The average rate on a 30-year fixed mortgage is 6.52%, while the 15-year fixed rate is 6.12%.
Borrowers considering an adjustable-rate option will find the 7/6 SOFR ARM averaging 6.22%. Refinance rates are running slightly higher than purchase rates, with the 30-year fixed refinance averaging 6.63% and the 15-year fixed refinance at 6.05%. These figures are based on current market averages and can vary by lender, credit profile, down payment, and loan amount.
Rate movement this week has been minimal as bond markets await fresh economic data, including the upcoming jobs report.
What's moving rates today
Mortgage rates are tied closely to the bond market, particularly mortgage-backed securities (MBS). When bond prices rise, rates tend to fall, and vice versa. According to recent industry data, trading has been relatively quiet this week with little fresh economic news to push rates meaningfully in either direction.
That's likely to change soon. Several major economic reports are scheduled over the next few days, and Thursday's jobs report tends to carry the most weight for rate movement. With markets closed Friday for the Independence Day holiday, lenders will have a shortened window to react to that data before the week wraps up.
If you're comparing offers, it can also help to learn how to shop around for mortgage rates so you're evaluating lenders on equal terms.
Today's mortgage rates by loan type
Here is a snapshot of today's average rates across the most common loan types. Your actual rate will depend on factors like credit score, down payment, loan amount, and lender.
| Loan type | Average rate |
|---|---|
| 30-year fixed | 6.52% |
| 15-year fixed | 6.12% |
| 7/6 SOFR ARM | 6.22% |
| 30-year fixed refinance | 6.63% |
| 15-year fixed refinance | 6.05% |
These are national averages — your actual rate depends on your credit score, down payment, loan amount, and lender.
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Should you lock your rate today
Deciding when to lock a mortgage rate is one of the more stressful parts of the homebuying process. There's no universal right answer, but a few principles can help.
If you're far along in the homebuying process and comfortable with today's rate, locking removes the risk of rates rising before you close. If you're earlier in the process, you may have more flexibility to wait and watch how rates move.
Many lenders offer float-down options that allow you to lock a rate and then move to a lower rate should it drop materially before closing.
It's also worth understanding whether your rate is negotiable. Lenders sometimes have room to adjust pricing, especially for strong credit profiles or larger loan amounts.
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How today's rates affect your monthly payment
To put today's rates in context, consider a $350,000 loan amount on a 30-year fixed mortgage at 6.52%. The estimated principal and interest payment would be approximately $2,220 per month, not including taxes, insurance, or HOA fees.
This example is for illustrative purposes only and does not include taxes, insurance, or other costs. Your actual payment will vary based on your loan amount, rate, term, and location.
A useful step is running your own numbers through a mortgage calculator before you start shopping, so you have a realistic monthly payment range in mind.
Purchase vs. refinance rates today
You may notice that refinance rates are running a bit higher than purchase rates today: 6.63% versus 6.52% on a 30-year fixed loan. This gap is common and typically reflects the slightly higher risk profile lenders assign to refinance transactions compared to purchase loans.
If you're a current homeowner deciding whether now is the right time to refinance, the math depends heavily on your existing rate, how long you plan to stay in the home, and your closing costs. It can help to review the signs that indicate when to refinance a mortgage before applying.
Homeowners exploring an adjustable-rate option may also want to understand how a 7/6 ARM works and how its rate behaves differently from a fixed loan, especially if you're weighing a floating interest rate against the stability of a fixed one.
You can also use a refinance calculator to estimate your potential savings.
Frequently asked questions
What are mortgage rates today for a 30-year fixed loan?
As of June 30, 2026, the average rate on a 30-year fixed mortgage is 6.52%, based on current market averages. This figure can vary by lender, credit score, down payment, and loan amount.
I have a 720 credit score and want to buy a $350,000 home — what rate could I realistically get today?
A 720 credit score is generally considered strong and can help you qualify for rates near or below the national average. The exact rate you're offered will also depend on your down payment, debt-to-income ratio, and loan type, so it's worth getting a personalized rate quote rather than relying on the average alone.
Should I lock my rate today or wait to see if rates drop further?
There's no guaranteed right answer, since rates can move in either direction. If you're comfortable with today's rate and far enough along in the process, locking removes uncertainty. If you have more time before closing, you may choose to monitor the market, keeping in mind that many lenders offer float-down options as a middle-ground approach.
Is it a bad idea to refinance right now if my current rate is 7.2%?
Not necessarily. If your current rate is meaningfully higher than today's average refinance rate of 6.63%, refinancing could lower your monthly payment, depending on your closing costs and how long you plan to stay in the home. It's worth calculating your break-even point before deciding.
What's the difference between today's purchase rates and refinance rates?
Refinance rates are typically a bit higher than purchase rates. This higher average for refinancers reflects the different risk considerations lenders apply to refinance transactions.
I'm self-employed with variable income. Will that affect the rate I'm offered today?
Self-employment and variable income don't automatically mean a higher rate, but lenders will typically ask for additional documentation, such as tax returns, to verify income stability. Your credit score and debt-to-income ratio still play a larger role in your rate than your employment type alone.
Why did mortgage rates move today?
Mortgage rates are closely tied to the bond market. According to recent industry data, rate movement has been minimal this week due to a light economic calendar, though that's expected to shift with several major data releases, including the jobs report, in the days ahead.
Is a 7/6 SOFR ARM a better deal than a 30-year fixed at today's rates?
It depends on your plans. The 7/6 SOFR ARM is currently averaging 6.22%, slightly below the 30-year fixed rate of 6.52%, but the ARM's rate can adjust after the initial seven-year period. It tends to make more sense for borrowers who expect to move or refinance before that adjustment period begins.
Mortgage rates can shift throughout the day, so the numbers above reflect a snapshot as of June 30, 2026. Whether you're buying or refinancing, the most reliable way to know what you'll actually pay is to get a personalized rate based on your own credit profile and goals.
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Rates shown above are daily average interest rates, not individualized APRs. They are based on Better Mortgage data and are for informational purposes only. Rates are not guaranteed, may include borrower-paid or lender credits, and actual rates and terms vary by borrower and transaction. Comparison to industry average rates may not reflect individual borrower scenarios and is not a guarantee of lower rates or savings.