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Read the latest about rates
5-minute read
How the federal funds rate affects mortgage rates
6-minute read
How a Fed rate drop affects home buyers and sellers
4-minute read
Should I lock in my mortgage rate today?
7-minute read
How Are Mortgage Rates Determined?
5-minute read
How the federal funds rate affects mortgage rates
6-minute read
How a Fed rate drop affects home buyers and sellers
4-minute read
Should I lock in my mortgage rate today?
7-minute read
How Are Mortgage Rates Determined?
Current rates
30-year fixed
Rate 7.125%
APR
7.436%Points
1.875 ($5,156.25) 30-year FHA
Rate 6.375%
APR
7.261%Points
1.875 ($5,156.25) Rates are current as of 6:16 PM UTC on May 8, 2025
30-year fixed
Rate 6.5%
APR
6.827%Points
2.125 ($5,312.50) 30-year FHA
Rate 6.375%
APR
7.285%Points
2.125 ($5,405.47) Rates are current as of 6:16 PM UTC on May 8, 2025
Get the right rate for you. All of you.
You’re more than a rate
Rates are important. But they’re just one part of your overall financial picture. Here’s how we figure out what’s right for you.
Nice to meet you
We get to know you first.
What are your plans?
What you’re hoping to do, now and in the future, will guide next steps.
Here are your options
We’ll help you decide what makes sense for you - at the right rate and monthly payment.
How lower rates can help home buyers
Lower rates equal a lower monthly payment. That can mean getting approved to spend more on a home – which helps with higher home prices. Here are some options you could have.
Discount points
You pay upfront to get a lower rate on your mortgage. The cost? One point is 1% of your loan amount. The savings? A point lowers your interest rate by 0.25%.
Temporary buydown
A temporary buydown lowers your rate for a limited time. A good example is our exclusive Welcome Home RateBreak.2
Affordable loans
Eligible buyers can get credit toward their down payment or closing costs - both ways to lower your monthly payment. Explore our affordable loans.
Rates won’t go much lower. What’s next?
You may be wondering if it’s time to revisit plans you put on hold. We can help you answer that question and more.
Cash-out options
Homeowners have historically high levels of home equity – and you can use it to get cash. Discover your options.
Change your rate, payment or term
Life may look different compared to when you got your mortgage. Explore what a different mortgage could do for you.
Sell your home and buy another
Home equity has risen; rates have come down. If it’s time to move, we can help you buy, sell and save.
Overview
For home buyers
For homeowners
You’re more than a rate
Rates are important. But they’re just one part of your overall financial picture. Here’s how we figure out what’s right for you.
Nice to meet you
We get to know you first.
What are your plans?
What you’re hoping to do, now and in the future, will guide next steps.
Here are your options
We’ll help you decide what makes sense for you - at the right rate and monthly payment.
What determines your mortgage rate?
Credit score
Higher credit scores typically get lower rates because they predict you’re more likely to pay back your mortgage.
Debt-to-income ratio
Lower debt predicts you’re more likely to be able to pay your mortgage. So a lower DTI can mean a lower interest rate.
Market conditions
The Federal Reserve, inflation and the housing market all influence mortgage rates.
Terms to know
What’s an interest rate?
It’s a percentage you’re charged to borrow money, applied to your loan amount.
What’s APR?
Annual percentage rate is interest rate with the fees to process your mortgage added on.
What’s a fixed-rate mortgage?
It means your interest rate stays the same for as long as you have the loan.
Who's the Fed?
The Federal Reserve is the central bank of the U.S. It controls the interest rate banks charge to borrow money - including for mortgages.