The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.344%, barely changed from the previous day, according to data from mortgage data company Optimal Blue.
Meanwhile, the average rate for a 15-year, fixed-rate conforming mortgage loan is 5.632%, down about 6 basis points for the same period.
Compare mortgage rates for April 6, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on April 3, reflecting rates for loans locked in as of April 2.
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 6.344%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $371,592.39 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 $145,017.11 in interest over the life of the loan at the current rate of 5.632%.
Read on to see how mortgage rates have changed day by day.
30-year conventional mortgage: Almost unchanged
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.344%. That’s barely changed from 6.343% 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 5.632%. That’s down from 5.692% on the last day’s report.
30-year jumbo mortgage: Down about 8 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 6.522%. That’s down from 6.596% on the last day’s report.
30-year FHA mortgage: Up about 1 basis point
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 6.104%. That’s up from 6.092% on the last day’s report.
30-year VA mortgage: Down about 1 basis point
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 5.987%. That’s down from 6.003% on the last day’s report.
30-year USDA mortgage: Up 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 6.052%. That’s up from 5.987% 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 dipped the week ending March 27, according to the Mortgage Bankers Association. Specifically, applications were down 10.4% overall compared to the week prior.
“Refinance application volumes declined sharply again last week, dropping 17%, and are down more than 40% compared to last month,” Mike Fratantoni, MBA’s SVP and chief economist, said in a news release. “Seasonally adjusted purchase application volume also declined over the week, but only by 3%.”
But it’s not all grim news. Fratatoni added:
“The headwinds of higher rates are being offset somewhat by the buyer’s market in many parts of the country—there are more homes for sale than buyers have seen in some time.”
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:
- Jamie Dimon says the American Dream is ‘slipping out of reach’—and JPMorgan is spending billions to fix it
- Bill Ackman told spooked investors to get over the Iran war and buy Fannie and Freddie. Stocks surged 40% the next day
- The ROAD Act passed by the Senate aims to expand America’s housing supply. It’s likely to shrink it instead
- There are now nearly 50% more home sellers than buyers as mismatch widens to a record 630,000. But it’s only a buyer’s market if you can afford it
- Gen Zers are flocking to these Midwest housing markets where homes are about 30% cheaper than the coasts
- How a war in the Middle East is hiking your mortgage rate in America
- The median first-time homebuyer is now 40. Zillow’s CEO says don’t expect that to change anytime soon
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 in this market.
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.
