The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.247%, 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 5.591%, down about 6 basis points for the same period.
Compare mortgage rates for April 17, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on April 16, reflecting rates for loans locked in as of April 15.
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 6.247%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $364,761.44 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 $143,837.17 in interest over the life of the loan at the current rate of 5.591%.
Read on to see how mortgage rates have changed from one day to the next.
30-year conventional mortgage: Down about 1 basis point
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.247%. That’s down from 6.255% on the last day’s report.
15-year conventional mortgage: Down about 6 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 5.591%. That’s down from 5.645% on the last day’s report.
30-year jumbo mortgage: Up about 5 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 6.476%. That’s up from 6.431% on the last day’s report.
30-year FHA mortgage: Down 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 6.026%. That’s down from 6.073% on the last day’s report.
30-year VA mortgage: Up about 8 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 5.858%. That’s up from 5.781% on the last day’s report.
30-year USDA mortgage: Down about 4 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 5.916%. That’s down from 5.963% on the last day’s report.
What the Federal Reserve is doing in 2026
Savvy watchers of the market keep a close eye on the Federal Reserve for good reason. For one thing, when the Fed raises or cuts its benchmark federal funds rate, financial institutions often change rates on consumer financial products (like mortgages) accordingly.
The federal funds rate is what banks charge each other to borrow money overnight. At its most recent meeting March 17-18, the Fed left that rate at 3.50% – 3.75%. There’s another meeting of the Federal Open Market Committee (FOMC) set for April 28-29.
During the havoc caused by the coronavirus pandemic, the Fed slashed its benchmark rate to effectively zero in 2020, trying to head off a recession. In January 2021, mortgage rates hit a shocking low average of 2.65%. However, barring another global catastrophe, experts do not expect to see mortgage rates that low again.
Trends with mortgage applications
Mortgage applications have ticked back up recently, if only slightly.
Per data from the Mortgage Bankers Association, mortgage applications were up 1.8% for the week ending April 10 compared to a week earlier. While purchase applications were down 1% week over week, refinance applications were up 5% looking at the same period.
“Given the evolving situation in the Middle East and its impact on energy and commodity prices, mortgage rates declined last week,” Joel Kan, MBA’s vice president and deputy chief economist, said in a news release.
Kan added: “This dip in rates helped to support an increase in conventional refinance applications, which had declined for five consecutive weeks. Purchase activity remained subdued as potential homebuyers remained hesitant given the current economic uncertainty, which kept purchase applications below last year’s level for the second consecutive week.”
Recent reporting on the housing market from Fortune
If you’re looking to stay informed as you navigate the housing market and the broader economy, Fortune’s reporting empowers you to do so. See recent pieces:
- The starter economy is broken
- 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
Why you should comparison shop
In an environment where rates are high, applying with multiple lenders might save you anywhere from $600 to $1,200 annually, according to Freddie Mac.
Keep in mind when comparison shopping for a mortgage you want to evaluate two different angles. The first is selecting a lender that can offer you a competitive rate and that will provide service aligning with your needs.
And the second is comparing different loan types. For example, you might find you can get an excellent deal on a conventional mortgage if you have near-perfect credit. But if your credit score is sub-600, you might get denied for a conventional mortgage while having more chance of approval for an FHA loan.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
No, your APR will typically be a higher number than your interest rate, as APR factors in both the interest plus any applicable fees on your loan.
What’s a good mortgage rate in April 2026?
We’ve seen the average rate on a 30-year conventional mortgage hovering above 6.00% recently. So, landing a rate on your mortgage just above 6.00% is probably a solid win, while getting a rate under 6.00% would definitely be a success in the current environment.
Will mortgage rates go down?
There’s potential but no certainty for rates to go down. If the Fed cuts the federal funds rate in 2026, lenders might decrease mortgage rates accordingly. But other factors that impact mortgage rates include the demand for mortgages, inflation, and the national debt.
