Current Mortgage Rates, April 30, 2021 | Rates Go Up

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A number of important mortgage rates all climbed up today. Both 30-year fixed and 15-year fixed mortgage rates inched upward. The most common type of variable-rate mortgage is the 5/1 adjustable-rate mortgage (ARM) also climbed higher.

The average mortgage rates are as follows:

Today’s Mortgage Refinance Rates

Refinancing became a bit more expensive today as 30-year fixed and 15-year fixed refinance mortgages saw their mean rates rise. Shorter term, 10-year fixed-rate refinance mortgages didn’t change.

Take a look at today’s refinance rates:

Current Mortgage Rates.

30-Year Fixed-Rate Mortgages

The 30-year fixed-mortgage rate average is 3.11%, which is a growth of 4 basis points from the previous week.

You can use NextAdvisor’s home loan calculator to get an idea of what your monthly payments will be and understand how adding extra payments will impact your loan. 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 2.39%, which is an increase of 4 basis points from seven days 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. But, 15-year loans have some considerable benefits: You’ll pay thousands less in interest and pay off your loan much faster.

5/1 Adjustable-Rate Mortgages

A 5/1 ARM has an average rate of 3.26%, which is a rise of 2 basis points from the same time last week.

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 remarkably 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 depending on how much your loan’s rate adjusts, your payment has the potential to increase by a large amount.

Recent Mortgage Rate Movement

To see where mortgage rates are headed, we rely on information collected by Bankrate, which is owned by the same parent company as NextAdvisor. Looking at the history of mortgage rates, we’re in the middle of a period of unprecedented low rates. This table has current average rates based on information provided to Bankrate by lenders from across the nation:

Current average mortgage interest rates
Loan typeInterest rateA week agoChange
30-year fixed rate3.11%3.07%+0.04
15-year fixed rate2.39%2.35%+0.04
30-year jumbo mortgage rate3.13%3.07%+0.06
30-year mortgage refinance rate3.17%3.14%+0.03

Updated on April 30, 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’s in Store for Mortgage Rates in 2021

In February, mortgage rates increased, moving well above their previous all-time lows to over 3%. But, rates are still near all-time lows, which is great news for borrowers. And for 2021, some experts see mortgage rates continuing to stay low. Although the possibility for future rates increases is there.

The direction rates go will depend on the economy. And effectively dealing with the impacts of the coronavirus pandemic is key to our economic recovery. As the economy recovers, we should see inflation rise, which will put upward pressure on mortgage rates. But in spite of the potential for rising inflation, it’s unlikely that we’ll see skyrocketing mortgage rates in 2021. One reason for this: the Federal Reserve believes that low interest rates will help the economy rebound. So it’s unlikely to make moves that could increase rates.

This Month’s Mortgage Predictions

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

The economy is beginning to show signs of life and investors are expecting increased inflation. This has driven 10-year Treasury bond yields up, which is a key indicator for mortgage rates. But, the Federal Reserve has expressed a desire to keep rates low. Also, some in the industry believe that fears of inflation are somewhat overblown. So don’t expect to see a massive surge in rates this month.

This Week’s Mortgage Predictions

A modest rise is what some experts are forecasting for mortgage rates this week. This would be a bit of a leveling off from previous weeks.

While there is nothing this week that should cause a spike or dramatic downturn in rates, the unexpected can happen. And currently, the economy still has a long way to go to return to its pre-pandemic level.

What Impacts the Current Mortgage Rates?

Everything from the direction of the economy to your individual financial situation can impact mortgage rates. Not only that, but the type of mortgage and the property itself also influence the rate.

Here are a few factors that influence rates:

  • Overall health of the economy
  • Federal Reserve policies
  • Government and consumer spending
  • U.S. Treasury bond Yields
  • Inflation rates
  • Individual circumstances: Loan-to-value ratio, credit history, and type of mortgage

How to Get the Best Mortgage Rate

Your credit score, loan-to-value ratio (LTV), and debt-to-income ratio (DTI), are the most important factors lenders use to calculate your interest rate.

To get the best rate, you’ll need a credit score somewhere between 700-800. Having a credit score above 800 is nice, but will likely have no major impact on your rate.

When you’re looking to buy a house, the less debt you have the better. When you have fewer debt payments to make each month, it lowers your DTI. And a lower DTI will help you get a smaller interest rate.

Banks provide the most substantial mortgage rate reductions to home buyers that are deemed less risky. A hefty down payment is a signal to lenders that you are more committed and are less likely to default on your loan. A down payment of 20% or more will save you money in two ways: with a more favorable mortgage rate, and you’ll be able to avoid paying for private mortgage insurance (PMI).

What to Know About the Recent Rate Increases

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

Rising rates can have a significant impact on your homebuying budget. The 0.44% increase we’ve experienced has increased the monthly payment on a 30-year $300,000 loan by $71 a month. But don’t expect current rates to cool off the red hot real estate market.

The demand for the exceptionally low number of homes on the market isn’t likely to be offset by the current mortgage rates, which are still historically low. So for the spring buying season, the real estate market is shaping up to be more of the same – a seller’s market.

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 can change daily.

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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