The listings featured on this site are from companies from which this site receives compensation. This influences where, how and in what order such listings appear on this site. Advertising Disclosure

Accurate as of July 04, 2025

Today's Best Mortgage Rates

Compare mortgage rates in seconds and see who has the best mortgage rates today.

Interested in refinancing?

01

Rocket Mortgage logo

Find a simple mortgage that works for you

9.9
View Rates
800-707-5133 CALL

02

AmeriSave logo

Get quotes and pre-qualify quickly

9.7
View Rates

03

Quicken Loans logo

Unlock cash from within your home

9.5
View Rates

01

Rocket Mortgage logo
Rocket Mortgage Refinance

Find a simple mortgage that works for you

Find a simple mortgage that works for you

  • Explore cash-out refinancing solutions and get access to cash quickly
  • Shorten your current loan term with custom fixed-rate loans from 8- to 30- years
  • Variable lines of credit available
  • Application syncs with your bank for real-time updates and a fast process
9.9
View Rates
800-707-5133 CALL

02

AmeriSave logo
AmeriSave Refinance

Get quotes and pre-qualify quickly

Get quotes and pre-qualify quickly

  • Access your home’s cash with refinancing and home equity loans
  • Lock in low rates before they increase with rate lock protection
  • Quick process from quote to bidding to approval
  • Funded over $100 billion in financial products over 21 years of business
9.7
View Rates

03

Quicken Loans logo
Quicken Loans Refinance

Unlock cash from within your home

Unlock cash from within your home

  • Get connected with lenders for $0 and compare products for free
  • 100% entirely online experience from start to finish
  • Personalized financial recommendations and powerful home equity solutions
  • Get rates from providers and compare them side-by-side
9.5
View Rates

What’s on this page?

  1. Featured mortgage lenders (see above)
  2. What to know about today's best mortgage rates
  3. How to understand the best interest rates for a mortgage
  4. How home loan interest rates are determined
  5. How the best home mortgage rates vary by region
  6. What to expect for home interest rates in 2025
  7. FAQ

What to know about today's best mortgage rates

Mortgage rates are the cost of borrowing money to buy a home. These rates change regularly based on things like the economy, inflation, and decisions made by the Federal Reserve (the U.S. central bank that helps guide the economy).

At FindMortgages.com, we’re here to help make sense of it all. We compare mortgage rates in real time from trusted lenders, so you can easily find the best mortgage loan rates without needing to search each lender’s website one by one.

How to understand the best interest rates for a mortgage

The mortgage rate, or home loan interest rate, is the basic cost of borrowing. It’s the percentage a lender charges you to borrow money. For example, if you borrow $100,000 at a 5% interest rate, you’ll pay 5% of that amount each year, in addition to paying back the loan itself.

APR (Annual Percentage Rate) is the actual number lenders use when calculating the full cost of your mortgage rate. It gives a more complete picture than home interest rates alone.

APR includes:

  • The interest on your loan
  • Loan origination fees, closing costs, and any other fees associated with securing the loan

Because APR includes these added costs, it's one of the best ways to compare loan offers between lenders. Most lenders will ask you a few basic questions to estimate the APR for your loan. This step usually takes 1–3 minutes and doesn’t require a credit check.

What makes a mortgage rate 'low'?

A mortgage rate is considered "low" if it's below the national average or lower than the typical rate for someone with your financial profile. What counts as a low rate depends on things like your credit score, loan type, and loan term.

What low mortgage rates mean for buyers

Lower mortgage rates mean lower monthly payments. That can make your home more affordable or help you qualify for a higher loan amount. You also pay less total interest over the life of the loan. Even a small change in rates—like going from 6.5% to 6%—can add up to big savings.

Pro tip: The best way to qualify for low mortgage rates is by improving your credit, reducing debt, or applying with a trusted spouse, partner, or relative.

How home loan interest rates are determined

Several things affect the rate you're offered:

  • Credit score: A higher score usually means a better rate
  • Down payment: Paying more upfront can lower your rate
  • Loan amount: Bigger loans sometimes have different rates
  • Loan type: Different loans (like FHA or VA) have different rules and costs
  • The economy: Inflation and Federal Reserve policies can cause lenders to raise or lower rates

Lowest mortgage rates by payment type

There are two main types of interest rates:

  • Fixed rate mortgage (FRM): This stays the same for the entire life of the loan. It’s ideal if you want predictable monthly payments
  • Adjustable rate mortgage (ARM): This starts lower than a fixed rate but can change over time. It may be a good option if you plan to move or refinance in a few years, but your payments could go up

Pro tip: If your situation changes, you can often switch from an ARM to an FRM and adjust your monthly payments by refinancing your mortgage. Or, you can take out a second mortgage to access loans using your home’s equity.

Lowest mortgage rates by credit score

Credit score plays a big role in the home loan interest rate you qualify for:

  • If you have a high credit score (670 or higher), you should qualify for the best mortgage loan rates with conventional mortgage loans.
    Visit the list at the top of this page to compare your options
  • If you have a low credit score (620 or lower), consider mortgage lenders that specialize in loans for borrowers with low credit.
    Visit our Poor Credit Mortgage Lenders page to compare your options

Lowest mortgage rates for first-time buyers

If you're a first-time buyer, the best mortgage loan rates depends on your financial situation:

  • If you can’t afford a large down payment, FHA loans may offer the best rate. These government-backed loans are designed to help buyers with limited financial history.
    Visit our Best FHA Mortgage Loan page to compare your options
  • If you’re not sure what you might qualify for, many lenders offer personalized rate estimates with no impact to your credit score.
    Visit our Get Prequalified for Mortgage Rates page to compare your options

How the best home mortgage rates vary by region

Mortgage rates aren’t always the same across the U.S. Local housing demand, property values, lender competition, and state regulations can all affect regional rates. Areas with lots of active lenders or slower housing markets may offer slightly lower rates.

How the best lending rates varied around the country in 2024

The national average mortgage rate in 2024 was 6.64%, according to Freddie Mac’s 30-year fixed-rate mortgage (FRM) data. Rates ranged between 6.08% and 7.22% throughout the year, influenced by inflation, Federal Reserve decisions, and regional lending competition.

Here’s how mortgage rates compare across a few key states and cities in the U.S.:

  • Best mortgage rates, Florida: Rates remained competitive due to high lender activity and demand
  • Best mortgage rates, Houston, TX: Slightly below the national average, with steady lender offerings
  • Best mortgage rates, North Carolina: Rates were consistent and stable throughout the year
  • Best mortgage rates, Kansas: Notably lower-than-average rates, especially attractive for first-time buyers
  • Best mortgage rates, New Jersey: More variation between metro and rural areas, but overall near the national average

What to expect for home interest rates in 2025

Experts think current mortgage rates may stay steady or drop slightly if inflation slows down. Keep checking updated lender offers to find the lowest interest rate mortgage. Even a small rate change can make a big difference over time.

For more insights, check out our full mortgage lender reviews to compare your options.

Since rates can vary daily, it’s a good idea to use a comparison tool (like the one on this site) to see who has the best mortgage rates based on your financial profile. Having access to today’s lowest interest rate mortgage options can help you save money and feel more confident in your decisions.

How We Rank?

Learn more about how findmortgages.com rankings are determined.

Frequently Asked Questions (FAQ)

A mortgage loan is used to purchase a home or real estate property. It involves an agreement where the borrower repays the loan over a set term, typically 15 to 30 years. The loan is secured by the property, which means the lender holds it as collateral until the mortgage is fully paid off. The borrower repays the loan through monthly payments, which include both principal (the loan amount) and interest.
Securing a mortgage loan typically takes between 30 to 45 days from start to finish. The process includes pre-approval, application submission, underwriting, appraisal, and closing. If you need to secure a mortgage loan as fast as possible, online lenders are a great option. Online lenders can process and approve loans in as little as 15 to 30 days, thanks to streamlined digital applications and quicker approval processes.
Your credit score plays a key role in determining both your mortgage eligibility and the interest rate you'll receive, accounting for roughly 34% to 40% of the decision-making process. Generally, higher credit scores result in more favorable terms and lower interest rates. If your credit score is on the lower side (around 620 or less), there are still plenty of options available. Many online lenders offer more flexible credit requirements, and applying with a co-signer who has a strong credit score can also improve your chances of securing better loan terms.
To improve your chances of getting approved for a mortgage loan, focus on raising your credit score by making timely payments and reducing any unpaid balances on your card(s). Lenders also prefer a lower debt-to-income (DTI) ratio, typically below 43%, as it shows financial stability. Saving for a larger down payment and maintaining stable employment can further strengthen your application. To speed up the approval process, ensure that all documents you submit are accurate and up to date.
To secure the lowest mortgage rates, it's important to maintain a high credit score and keep your debt-to-income (DTI) ratio low, as these factors demonstrate financial responsibility to lenders. Lenders also assess your income, employment history, and the size of your down payment when determining your eligibility. If your financial profile is lacking in one or more areas, applying with a co-signer who will share responsibility for the loan can help boost your chances of approval and possibly lead to better terms.
Pre-approval is a process where you self-report your financial details, such as income and debt, to get an estimate of how much you might qualify for without a hard credit check. It provides a personalized loan estimate and potential interest rate, helping you compare offers from different lenders and determine what you can afford. Pre-approval is a great first step before fully applying for a mortgage, as it allows you to shop around and better understand your options without impacting your credit score.
When applying for a mortgage loan, lenders will use the following documents to assess your financial health and determine your eligibility for a mortgage loan: PROOF OF INCOME (pay stubs, tax returns W-2s or 1099s) • EMPLOYMENT VERIFICATION (a letter or workplace contact) • BANK STATEMENTS (savings and/or checking account balances and other assets) • CREDIT INFORMATION (lender will conduct a credit report check) • DEBT INFORMATION (current debts and/or other outstanding loans) • PROOF OF IDENTITY (driver's license or passport and your Social Security number).
Start by researching online and reading reviews to check the lender's reputation. Then, shop around by getting preapproved with multiple lenders to compare rates. (Preapproval should not impact your credit score, it's simply a preliminary loan and rate estimate). Don't hesitate to ask questions about the loan process and fees. Local real estate agents can also provide recommendations based on their personal experience with mortgage lenders.
If you're facing challenges with your mortgage payments, there are options to explore. Many homeowners refinance their mortgage to modify their loan terms or secure a lower rate if the market has changed (though there's typically a 6 month waiting period from after you close to when you can refinance). Additionally, you can contact your lender to discuss assistance programs like forbearance and loan modification.
You should consider refinancing your mortgage when it can help you achieve a financial goal, such as lowering your monthly payments, reducing your interest rate, switching from an adjustable-rate to a fixed-rate loan, or accessing your home’s equity. It's generally worth considering refinancing if current interest rates are significantly lower than your existing rate (around 0.5% to 1% or more) or if your credit score or financial situation has improved since you took out the loan. You should always factor in the closing costs associated with refinancing before signing any paperwork to ensure it’s a cost-effective move.