The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.356%, an increase of about 3 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 5.700%, up about 1 basis point for the same period.
Compare mortgage rates for April 9, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on April 8, reflecting rates for loans locked in as of April 7.
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 6.356%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $372,440.16 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 $146,976.51 in interest over the life of the loan at the current rate of 5.700%.
Read on to see how mortgage rates have changed from one day to the next.
30-year conventional mortgage: Up about 3 basis points
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.356%. That’s up from 6.331% on the last day’s report.
15-year conventional mortgage: Up about 1 basis point
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 5.700%. That’s up from 5.689% on the last day’s report.
30-year jumbo mortgage: Down about 1 basis point
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 6.560%. That’s down from 6.571% on the last day’s report.
30-year FHA mortgage: Up about 5 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 6.138%. That’s up from 6.093% on the last day’s report.
30-year VA mortgage: Up about 11 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 6.037%. That’s up from 5.929% on the last day’s report.
30-year USDA mortgage: Up about 5 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 6.058%. That’s up from 6.010% on the last day’s report.
What the Federal Reserve is doing in 2026
The Fed does not set mortgage rates, but does indirectly influence them by what it does with the federal funds rate. That benchmark rate is what banks charge each other to borrow money overnight.
When the Fed increases the federal funds rate, mortgage rates often rise, and conversely, mortgage rates often decrease when the Fed cuts the federal funds rate. At its most recent meeting March 17-18, the Federal Open Market Committee left the federal funds rate at 3.50% – 3.75%.
The FOMC has another meeting coming up on April 28-29.
Some would-be homebuyers probably remember when the average mortgage rate dropped to a startling low of 2.65% in January 2021. That came as the Fed had cut the federal funds rate to effectively zero, trying to stave off a pandemic-induced recession.
However, barring a disaster of that level, experts do not expect mortgage rates to drop that low again in the foreseeable future.
Trends with mortgage applications
Mortgage applications are down overall, according to data from the Mortgage Bankers Association. It’s a relatively small dip—applications were down 0.8% for the week ending April 3 compared to a week prior.
“Higher mortgage rates and continued economic uncertainty weighed down on mortgage applications again last week,” Joel Kan, MBA’s vice president and deputy chief economist, said in a news release.
Kan added that the pace of mortgage refi applications is lower than it’s been since December 2025.
But, there are still opportunities for savvy homebuyers with a bit of luck—for example, it may be possible for some applicants to snag a competitive rate on a home loan backed by the Federal Housing Administration, or get a relatively low intro rate on an adjustable-rate mortgage. Kan noted in the release that “certain loan types and geographic segments are faring better than others because of lower rates on ARM and FHA loans as well as growing housing inventory in some local markets.”
Recent reporting on the housing market from Fortune
If you want to stay in the loop and understand what’s happening with the economy, Fortune has your back. See what the newsroom has been reporting on recently:
- 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
- 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
Why you should comparison shop
Bear in mind that you can comparison shop from a couple different angles. On one hand, it’s worth considering different mortgage types to understand what the best type of loan is for your needs.
If you have exceptional credit, you might get the best deal for your situation from a conventional loan. But, if you have a credit score below 600, you’d likely get denied for a conventional mortgage while still having a chance at approval for an FHA home loan.
There’s also comparison shopping by applying with different lenders. Freddie Mac notes that in markets with high interest rates, homebuyers who shop around with multiple lenders might save from $600 to $1,200 per year compared to those who don’t.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
They’re not quite the same. Your APR will include interest plus any applicable fees, meaning it will generally be a slightly higher number than interest rate alone.
What’s a good mortgage rate in April 2026?
With the average for a 30-year conventional mortgage hovering well above 6.00% these days, if you snag a rate slightly above 6.00%, that’s pretty good.
Will mortgage rates go down?
Perhaps. If the Fed decreases the federal funds rate in 2026, there’s a chance mortgage rates might dip accordingly. But other factors are at play too, with inflation, the national debt, and the demand for home loans all impacting mortgage rates.
