The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.230%, a decrease of about 2 basis points 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 5.535%, down about 5 basis points for the same period.
Rates current as of April 20, 2026. Fortune publishes a daily mortgage rates post each weekday that data is available.
Compare mortgage rates for April 20, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on April 17, reflecting rates for loans locked in as of April 16.
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What you’d pay in interest with where rates are at on April 20, 2026
We ran the numbers through the mortgage calculator provided by the federal government’s Office of Financial Readiness. At the current rate of 6.230%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $363,571.31 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 $142,228.14 in interest over the life of the loan at the current rate of 5.535%.
Read on to see how mortgage rates have changed day by day.
30-year conventional mortgage: Down about 2 basis points
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.230%. That’s down from 6.247% on the last day’s report.
15-year conventional mortgage: Down about 5 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 5.535%. That’s down from 5.591% 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 6.528%. That’s up from 6.476% on the last day’s report.
30-year FHA mortgage: Up about 3 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 6.060%. That’s up from 6.026% on the last day’s report.
30-year VA mortgage: Down about 3 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 5.833%. That’s down from 5.858% on the last day’s report.
30-year USDA mortgage: Down about 6 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 5.863%. That’s down from 5.916% on the last day’s report.
What the Federal Reserve is doing in 2026
While not a perfect correlation, mortgage interest rates often move in relationship to changes the Federal Reserve makes to its benchmark federal funds rate.
The federal funds rate is the rate banks charge each other to borrow money overnight. When it increases, lenders often raise the rates they charge customers. Conversely, when it decreases, lenders may offer borrowers lower rates.
At its most recent meeting March 17-18, the Federal Open Market Committee left the federal funds rate unchanged at 3.50% – 3.75%. The FOMC’s next meeting is slated for April 28-29.
While attempting to stave off a recession due to the coronavirus pandemic in 2020, the Fed dropped its benchmark rate to effectively zero. This led to historically low mortgage rates for a period of time—with the average mortgage rate dropping to 2.65% in January 2021.
Barring another pandemic-level catastrophe, experts agree it’s extremely unlikely for mortgage rates to dip that low at any point in the foreseeable future.
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
Go deeper with our coverage of what’s happening with the housing market and the broader economy:
- Older millennials are starting to act like boomers in the housing market—and pulling away from the pack
- Gen Z is carving a different path in the housing market by doing it alone
- 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
Why you should comparison shop
Comparing rates on different types of loans and shopping around with different mortgage lenders are both important steps in getting the best mortgage for your situation.
If your credit is in stellar shape, a conventional mortgage might be the best choice for you. But, if your score is sub-600, an FHA loan may give you a chance a conventional loan would not.
When it comes to shopping around with different banks, credit unions, and online lenders, it can make a tangible difference in how much you pay. Freddie Mac research shows that in a market with high interest rates, homebuyers may be able to save $600 to $1,200 annually if they apply with multiple mortgage lenders.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
Not exactly. Your loan’s APR reflects the interest you’ll pay plus any fees factored in, so the APR will typically be slightly higher than the interest rate alone.
What’s a good mortgage rate in April 2026?
For 30-year conventional mortgages, we’ve been seeing the average rate hover well above the 6.00% line. If you get a rate slightly above 6.00% that’s likely pretty solid.
Will mortgage rates go down?
If the Fed decides to cut the federal funds rate in 2026, mortgage rates might dip alongside that action (though it’s not guaranteed). Other factors impacting mortgage rates include inflation, the national debt, and demand for home loans.
