• Compare Current Mortgage Rates - The Weekly Snapshot

    Last updated: April 19, 2012

    The Weekly Snapshot gives you a quick overview of the mortgage market. It will help you compare current mortgage rates being offered by lenders in the U.S. This page is updated every Thursday at 12:00 noon (CST). Please see our disclaimer below the data tables. It explains that your interest rate will vary, based on a variety of qualifying factors.

    Rates Reported by Freddie Mac
    30-year fixed15-year fixed5-year ARM
    3.90%3.13%2.78%
    Apply online:


    Small Bank Sampler
    30-year fixed15-year fixed5-year ARM
    3.85%3.05%2.70%
    Apply online:

    Disclaimer: These rate tables are provided for general use only. We make no guarantees about the interest rate you will receive from a lender. When you compare mortgage rates across multiple lending institutions, you should bear in mind the concept of the "well-qualified borrower." Most banks advertise the lowest rates they are willing to offer at any given time. But these are generally reserved for borrowers with excellent credit, minimal debt, and sizeable down payments. In other words, you might not qualify for the mortgage rates shown on the lender's website. The only way to know for sure is to apply for a loan. Learn more below.

    The Big Banks
    The Weekly Snapshot shows current mortgage rates being offered by the largest lenders in the United States. We obtain this information from each company's website, every Thursday at noon (CST). These companies may update their displayed rates more frequently than we update this page. So there may be a time lag of a few days. You can visit each company's website for the most recent information. Please note that these are typically the rates offered to "well-qualified borrowers." Your mortgage rate will vary based on your individual qualifications as a borrower. You can learn more about these qualifications below.

    Note: For Bank of America, we used the 92010 zip code to obtain rates, along with a loan amount of $300,000 (their website requires you to fill in these parameters). The BOA rates also include at least one point paid at closing.

    Small Bank Sampler
    Every week, we take a sampling of rates being offered by smaller mortgage lenders and credit unions. These are local and state banks, industry credit unions, etc. We do this to give you a broader view of the current mortgage market, and to help you compare rates being offered by different types of lending institutions. It's also meant to remind you that you don't always have to use a big bank when buying a house. You may find that a smaller bank is willing to offer you better terms than a larger bank, or that they have more flexible guidelines for approval. When you compare current mortgage rates, you should get offers from a variety of lenders.

    Freddie Mac
    Each week Freddie Mac conducts a survey of lenders in the primary mortgage market. Their survey group includes about 125 lenders located throughout the United States. This survey group is meant to provide a general snapshot of current trends in the lending industry. We pull this data into the Weekly Snapshot every Thursday. This helps you compare mortgage rates in the U.S., by viewing the market through a broader lens. 

    How to Compare Mortgage Rates

    How do you compare interest rates when shopping for a mortgage loan? What steps are involved? What does it take to qualify for the best rates? These are some of the most common questions we receive from first-time home buyers. Here are some things to keep in mind as you compare mortgage rates and lenders.

    • Lenders typically promote their lowest rates on their websites, magazine ads and billboards. But only the most highly qualified borrowers will meet the criteria needed to obtain these rates. Read the fine print, and you will probably find something that says "reserved for well-qualified borrowers."
    • The lender will assign your interest rate based on several factors. These factors include your credit score, down payment, employment history, debt-to-income ratio and other factors. Learn more
    • You can compare mortgage rates using a variety of tools and websites. The Freddie Mac weekly survey is a good indicator, because it compiles data from about 125 lenders. (You can see this survey at the top of this page.) You can also use websites such as Bankrate.com to view current lending trends.
    • If you want to qualify for a bank's lowest rate, you will probably have to pay interest points at closing. Points are basically pre-paid interest. You pay this money at closing in order to "buy down" the rate that is assigned to your mortgage loan. In order to recoup this upfront expense, you will need to keep the loan for a certain period of time. Learn more

    This page offers tools and information to help you compare mortgage rates being offered in the current market. If you would like to learn more about home loans and the home-buying process, you can use the search tool located at the top of this page. There are literally hundreds of mortgage-related articles and tutorials on this website. We also encourage you to continue your research beyond this website.

    Additional disclaimers: This page presents an average of mortgage rates being offered by banks and financial institutions in the United States. This information is provided for educational purposes only. We have no control over the interest rate you receive from a lender. This will depend on your credit score and other factors related to your financial situation (something we've been saying all along). The current rates displayed on this page are based on well-qualified borrowers who paid an average of 0.75 points at closing.