JUNE 18, 2026
How mortgage rates are actually set
Your rate isn't just a reflection of the Fed. Here's the chain of factors that actually determine the number a lender quotes you.
Read more → (6 min read)Purchase and refinance rates from real lenders, lined up by rate, APR, and estimated fees.
Mortgage rates vary more between lenders than most borrowers expect, even on the same day for the same loan type and the same borrower profile. Your actual rate depends on a mix of factors: your credit score, down payment size, loan term, property type and occupancy, and each lender's own margins and current capacity to originate loans. Two lenders quoting the same borrower can land on noticeably different rates once discount points, origination fees, and underwriting differences are factored in — which is part of why looking at APR, not just the advertised rate, gives a more complete picture for comparison. The broader rate environment sets a baseline that every lender starts from, tracking bond markets more closely than the Fed funds rate that gets most of the media attention, but your personal rate sits well above or below that baseline depending on your specific financial profile. Choosing between a 15-year and 30-year term, or between a fixed rate and an adjustable one, changes the math meaningfully too, and is worth thinking through before you start comparing specific lender quotes. That's exactly why comparing real quotes side by side, gathered within a short window of each other, matters more than accepting the first offer from a single lender or assuming the bank you already use will automatically have the best deal. Below, we've lined up current rates from lenders we track, along with estimated fees and APR for each, so you can see where the real differences come from before locking anything in.
Lowest combined rate and fee estimate among lenders in our set.
You want a streamlined online process with competitive pricing.
Jumbo loans may carry a rate premium not reflected here.
Established lender with strong first-time buyer programs.
You want in-person guidance through the process.
Doesn't currently offer refinance products.
Competitive on shorter terms for buyers wanting to pay off faster.
You want flexibility between 15 and 30-year terms.
Slightly higher APR than the top-ranked lender.
Lowest headline rate, focused on refinance transactions.
You're refinancing an existing mortgage and want speed.
Higher fee estimate offsets the lower headline rate.
Lowest estimated fees in our set, useful for tighter closing budgets.
You want to minimize cash needed at closing.
Headline rate is higher than other lenders listed.
Rate is the interest rate charged on the loan principal, before fees are factored in.
APR includes the interest rate plus most lender fees — the more complete number for comparing total cost.
Est. fees is an estimate of lender and closing costs; actual fees vary by loan amount, state, and credit profile.
Mortgage rates change daily based on market conditions. Get a personalized quote before locking a rate.
Answer a few questions and a licensed advisor partner reaches out with mortgage loans options matched to your situation — no obligation, no cost.
The interest rate is what you're charged on the loan balance. APR includes the rate plus most lender fees, expressed as a yearly percentage — it's a better number for comparing the total cost across lenders.
It varies by loan type. Conventional loans often start around 3–5% down, FHA loans around 3.5%, while some VA and USDA loans allow 0% down for eligible borrowers.
Lenders typically do a soft credit check for initial rate quotes, which doesn't affect your score. A hard inquiry usually only happens once you formally apply.
We may receive compensation from lenders when you submit an inquiry or close a loan through our link. This doesn't affect the rate or terms you're offered.
3 guides on mortgage loans — how it works, how to choose, and how to avoid common mistakes.
Your rate isn't just a reflection of the Fed. Here's the chain of factors that actually determine the number a lender quotes you.
Read more → (6 min read)An ARM's lower starting rate is real — the question is whether you'll still have the loan once that initial period ends.
Read more → (6 min read)A lower rate alone doesn't automatically mean refinancing pays off — the closing costs and your break-even timeline do most of the deciding.
Read more → (6 min read)