The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.187%, a decrease of about 4 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 5.486%, down about 5 basis points for the same period.
Compare mortgage rates for April 21, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on April 20, reflecting rates for loans locked in as of April 17.
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 6.187%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $360,553.72 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 $140,824.21 in interest over the life of the loan at the current rate of 5.486%.
Read on to see how mortgage rates have changed from the previous day’s report.
30-year conventional mortgage: Down about 4 basis points
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.187%. That’s down from 6.230% 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 5.486%. That’s down from 5.535% on the last day’s report.
30-year jumbo mortgage: Down about 10 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 6.433%. That’s down from 6.528% 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 6.017%. That’s down from 6.060% on the last day’s report.
30-year VA mortgage: Down about 2 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 5.805%. That’s [up/down] from 5.833% on the last day’s report.
30-year USDA mortgage: Up 2 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 5.883%. That’s up from 5.863% on the last day’s report.
What the Federal Reserve is doing in 2026
It’s not an exact science, but market observers often expect mortgage rates to rise and fall in accordance with when the Federal Reserve hikes or cuts its federal funds rate.
This benchmark rate from the Fed is what banks charge each other to borrow money overnight. When it increases, rates on consumer products like mortgage often increase too. And when it goes down, rates on consumer products often follow suit.
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 has another meeting on the calendar for April 28-29.
In an attempt to combat the economic damage from the coronavirus and stave off a recession, the Fed reduced its benchmark rate to effectively zero in 2020. This caused remarkably low mortgage rates, and in January 2021, the average rate hit a record-setting low of 2.65%.
Barring a disaster on the scale of the COVID-19 pandemic, experts do not expect to see mortgage rates quite 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
For savvy consumers who want to keep up with what’s happening in the housing market and the broader economy, the Fortune newsroom has you covered:
- Trump’s big housing market solution is dead on arrival, UBS says—its model is Texas from 25 years ago
- 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
Why you should comparison shop
When you comparison shop for a mortgage, there are two different things you’re comparing. For one thing, you’re comparing different lenders, to see if one may offer you a more advantageous rate. And for another, you’re comparing different loan types to find the one that suits your situation the best.
As an example, someone with a high credit score might find their best deal when taking out a conventional mortgage, but someone whose credit score is less than 600 might be denied for a conventional mortgage but potentially get approval for an FHA home loan.
In high-interest-rate markets, shopping around can make a noticeable difference in how much you pay. Freddie Mac notes that homebuyers who apply with multiple lenders might save as much as $600 to $1,200 per year.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
While APR and interest rate are the same when referring to a credit card, they’re slightly different terms when it comes to loans. Your APR will generally be a little higher than your interest rate as the APR includes interest plus any fees associated with your loan.
What’s a good mortgage rate in April 2026?
Based on how we’ve seen the average rate hover above 6.00% for 30-year conventional mortgages, if you get a rate just slightly above 6.00%, that’s pretty good. And by chance if you get a rate below 6.00%, that’s stellar for the current market.
Will mortgage rates go down?
It’s possible. If the Fed makes a cut to the federal funds rate in 2026, that might influence mortgage rates downward. But there are other factors that impact mortgage rates too, such as inflation, the national debt, and demand for mortgages.
