The interest rate you're looking for depends on the specific type of loan or financial product you're interested in. Here are some current interest rates for common mortgage products, as of today:
Current Mortgage Interest Rates
Keep in mind that these rates are averages and can vary depending on your credit score, down payment, loan terms, and the lender you choose.
| Product | Interest Rate | APR |
|---|---|---|
| 10-Year Fixed Rate | 6.17% | 6.24% |
| 5-1 ARM | 6.32% | 7.10% |
| 10-1 ARM | 6.47% | 7.27% |
| 30-Year Fixed Rate FHA | 6.99% | 7.03% |
Source: Bankrate
Important Considerations:
- APR vs. Interest Rate: The APR (Annual Percentage Rate) includes the interest rate plus other fees associated with the loan, providing a more comprehensive view of the total cost.
- Rate Fluctuations: Interest rates can change daily, so it's important to get a personalized quote from a lender for the most accurate information.
- Factors Affecting Rates: Your credit score, loan type, down payment, and the overall economic climate all play a role in determining your interest rate.
To find the most accurate interest rate for your specific needs, it's recommended to compare quotes from multiple lenders.
