Mortgage Interest Rates Today, April 26, 2021 | Benchmark Rates Mixed

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What we’re seeing today is mortgage rates moving all over the place. Average 30-year fixed mortgage rates didn’t change, but average 15-year fixed mortgage rates trended down. The most common type of variable-rate mortgage is the 5/1 adjustable-rate mortgage (ARM) cruised higher.

Mortgage rates currently are:

Current Mortgage Refinance Rates

Today’s slump in rates for 15-year fixed refinance loans was not matched by 30-year fixed refinance rates, which saw average rates stay flat. Shorter term, 10-year fixed-rate refinance mortgages increased.

Take a look at today’s refinance rates:

Current Mortgage Rates.

30-Year Fixed-Rate Mortgages

For a 30-year fixed-rate mortgage, the average rate you’ll pay is 3.07%, which is unchanged from last week.

You can use NextAdvisor’s mortgage loan calculator to work out what your monthly payments would be and see how much you’ll save if you make extra payments. The mortgage calculator can also show you how much interest you’ll pay over the life of the loan

15-Year Fixed-Rate Mortgages

The median rate for a 15-year fixed mortgage is 2.35%, which is a decrease of 6 basis points compared to a week ago.

A 15-year, fixed-rate mortgage’s monthly payment is larger and will take up a bigger chunk of your monthly budget than a 30-year mortgage would. However, 15-year loans have some considerable benefits: You’ll pay thousands less in interest and pay off your loan much sooner.

5/1 Adjustable-Rate Mortgages

A 5/1 ARM has an average rate of 3.27%, which is an increase of 7 basis points compared to a week ago.

An ARM is ideal for households who will sell or refinance before the rate changes. If that’s not the case, their interest rates could end up being noticeably higher after a rate adjusts.

For the first five years, a 5/1 ARM will typically have a lower interest rate compared to a 30-year fixed mortgage. Just keep in mind that your rate could climb higher and your payment might grow by hundreds of dollars a month.

Recent Mortgage Rate Movement

To see where mortgage rates are moving we rely on information collected by Bankrate, which is owned by the same parent company as NextAdvisor. Looking at mortgage rate history, we’re in an exceptionally low rate environment. The table below compares today’s average rates to what they were a week ago, and is based on information provided to Bankrate by lenders nationwide:

Average mortgage interest rates
ProductRateLast weekChange
30-year fixed3.07%3.07%N/C
15-year fixed2.35%2.41%-0.06
30-year jumbo mortgage rate3.07%3.06%+0.01
30-year mortgage refinance rate3.13%3.13%N/C

Rates as of April 26, 2021.

A number of factors can influence mortgage rates, including everything from inflation to unemployment. In general, inflation leads to higher interest rates and vice versa. The dollar loses value with increased inflation, and this causes mortgage-backed securities to become less enticing for investors, which leads to falling prices and higher yields. And if yields increase, interest rates become more expensive for borrowers.

A strong economy has historically increased demand for homes. When more homes are sold, the demand for mortgages also increases, which can cause rates to go up. But the flip side is also true: A drop in demand for mortgages could signal a coming downturn in mortgage rates.

What Does the Future Hold for Mortgage Rates?

In February, we saw mortgage interest rates gain steam, moving above 3% for the first time in more than seven months. But, rates are still near all-time lows, which is great news for borrowers. And for 2021, some experts predict mortgage rates won’t go much higher. Although the possibility for future rates increases is there.

How we deal with coronavirus, and its impact on the economy, will have a big impact on rates. If consumer and government spending increases, that’s likely to drive inflation higher. In this scenario, we’ll most likely see mortgage rates begin to climb upward. However, the Federal Reserve wants to aid the recovery by keeping rates low beyond 2021. So it’s likely we’llsee historically low rates for the foreseeable future.

This Month’s Mortgage Predictions

Some experts forecast that this month mortgage rates will stabilize following weeks of strong growth.

The Federal Reserve would still like to keep rates low to boost the economy. And some experts believe the fears of inflation that have been driving rates higher are a bit overblown. So even though mortgage interest rates are likely to continue to rise over the long term, a massive spike isn’t likely.

This Week’s Mortgage Predictions

The current rise in mortgage rates is what we’d expect to see with the economy looking like it’s starting to recover. So this week’s mortgage rates forecast is for more of the same, but with only a potential for a moderate uptick.

However, the economy still has a long way to go before it recovers to pre-pandemic levels. If we get surprised by any bad news, that could put a damper on rates.

Factors Influencing Today’s Mortgage Rates

There is a wide range of factors that impact mortgage rates. Some are broader economic factors, and others are related to your individual circumstances.

  • Condition of the economy
  • Decisions made by the Federal Reserve
  • Consumer and government spending
  • U.S. Treasury bond Yields
  • Inflation
  • Personal financial situation: Size of your down payment, credit history, and debt-to-income ratio

How to Get the Lowest Mortgage Rate

Getting loan offers from a few lenders is a great way to secure the lowest interest rate.

Your mortgage rate depends on a number of factors lenders consider when assessing how risky it is to loan you money for a home purchase. Your credit score and debt-to-income ratio (DTI) impact your mortgage rate. And your loan-to-value (LTV) ratio matters, so having a more substantial down payment is better for your interest rate.

But banks will consider your circumstances differently. So you can give the same documentation to three different lenders, and find that none of the mortgage rates and fees you are offered are the same.

What to Know About the Recent Rate Increases

Over the past few months, mortgage rates have surged. Since we hit an all-time low average of 2.65% for 30-year fixed mortgages, mortgage interest rates have jumpedto 3.09%.

The recent 0.44% increase in mortgage rates will affect your bottom line. The monthly payment on a $300,000 30-year mortgage is now $71 a month at the current interest rates. However, even though buyers will have to adjust their homebuying budgets, don’t expect it to turn into a buyer’s market anytime soon.

There is still a severe shortage of homes for sale. So as we enter peak buying season, expect to continue seeing homes sell quickly for above the asking price. Those trends can make it can be a frustrating market for buyers.

How We Got These Rates

The rates we have included are averages provided by Site Averages and are calculated after the close of the previous business day. The lenders that the “ Site Average” tables include are not the same from day to day.

National lenders provide this mortgage rate information to It is possible the mortgage rates we reference has changed since this was published.

Mortgage Interest Rates by Loan Type

Home Purchase Rates

Mortgage Refinance Rates

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