The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.218%, 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 5.450%, down about 4 basis points for the same period.
Compare mortgage rates for April 22, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Optimal Blue data available on April 21, reflecting rates for loans locked in as of April 20.
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 6.218%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $362,730.27 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 $139,793.39 in interest over the life of the loan at the current rate of 5.450%.
Read on to see how mortgage rates have changed from the day prior.
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 6.218%. That’s up from 6.187% on the last day’s report.
15-year conventional mortgage: Down about 4 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 5.450%. That’s down from 5.486% on the last day’s report.
30-year jumbo mortgage: Up about 11 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 6.538%. That’s up from 6.433% on the last day’s report.
30-year FHA mortgage: Down less than a full 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 6.014%. That’s down from 6.017% on the last day’s report.
30-year VA mortgage: Up 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 5.819%. That’s up from 5.805% on the last day’s report.
30-year USDA mortgage: Down about 3 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 5.845%. That’s down from 5.883% on the last day’s report.
What the Federal Reserve is doing in 2026
The Fed does not set mortgage interest rates directly. However, the central bank does set something called the federal funds rate, which is what banks charge each other to borrow money overnight.
Much of the time, rates on consumer products such as mortgages move alongside changes to the federal funds rate. So, if the Fed hikes or cuts its benchmark rate, mortgage rates might move up or down accordingly.
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 approaching on April 28-29.
Many would-be homebuyers probably remember the historical low average mortgage rate of 2.65%, reached in January 2021. But this came as the Fed slashed the federal funds rate to effectively zero, trying to hold off a recession connected with the coronavirus pandemic.
Barring a disaster of pandemic-level proportions, experts do not expect we’ll see mortgage rates go 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
Keep up on what’s happening with housing and the economy in general by following the work of the Fortune newsroom:
- 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
In a high-interest-rate market, homebuyers who apply with multiple mortgages might save between $600 to $1,200 annually compared to those who do not, according to Freddie Mac.
When comparison shopping for a mortgage, keep in mind you’re comparing two factors. For one thing, you’re comparing different lenders to find the one that will offer you the best rate, service that aligns with your expectations, etc. And for another, you’re comparing different types of loans.
For instance, someone with a nearly perfect credit score might get the best deal for their situation with a conventional mortgage. But someone with a credit score under 600, who would likely be denied for a conventional mortgage, might still have a chance at approval for an FHA loan in some circumstances.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
They’re related but not entirely the same. Your APR includes your interest rate plus any applicable fees, meaning it will generally be the higher of the two numbers.
What’s a good mortgage rate in April 2026?
Scoring a rate just above 6.00% means you’re probably doing good, as that’s where we’ve seen the average hovering for 30-year conventional home loans recently. If you land a rate below 6.00%, you’re quite fortunate.
Will mortgage rates go down?
It’s possible but nothing is set in stone. Mortgage rates might go down if the Fed proceeds with a cut to the federal funds rate in 2026. But, other factors influencing mortgage rates include inflation, the national debt, and the current demand for home loans.
