Current Mortgage Rates November 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Bank & Credit Union Star Ratings
- Finance Calculators
Mortgage rates range from 4.54% (VA) to 7.12% (FHA), verified by MonitorBankRates as of November 6, 2026. Current 30-year fixed mortgage rates include H & E Telephone Federal Credit Union (First Mortgage - 30 Year Fixed) at 5.25% APR, Advance Financial Federal Credit Union (30-Year Fixed Mortgage) at 5.625%, Institution for Savings (First-Time/Affordable Homebuyer Loan - 30 Year Fixed) at 5.625%, Citizens Bank of Kansas (FHA 30 Year Fixed Mortgage) at 5.635%, and Frost Bank (Frost Progress Mortgage Options - 30-year fixed-rate (Income-based)) at 5.75%. Mortgage rates as of November 6, 2026 according to verified data from MonitorBankRates.
We compared 8,198 mortgage rates from 1,271 banks and credit unions across all 50 states to help you find the best 30-year fixed, 15-year fixed, ARM, FHA, VA, and jumbo mortgage rates.
Finding the lowest mortgage rate can save you thousands over the life of your loan. Whether you are purchasing a home or refinancing, comparing current loan options across top-rated lenders and national banks is critical. We empower borrowers with transparent financial health metrics, including A-F Safety Grades, verified Star Ratings, and Texas Ratios, so you can choose a stable, highly-rated institution with confidence.
Mortgage Rates reflect actual verified offers from lenders actively lending to borrowers nationally. Your final approved rate will depend on your credit profile, loan-to-value ratio, and daily market movements. Last Updated and Verified: November 6, 2026
Compare Mortgage Rates Today Across the United States
30 Year Fixed Mortgage Rates
Effective as of: October 1, 2022
As Low As; Competitive 30-Year Fixed Mortgage Rates starting at 5.625%
Minimum credit score 680; APR based on $550,000 purchase loan with minimum credit score 680 and maximum LTV 97%; first-time homebuyer program with minimum down payment 3%; income no greater than 120% of AMI; DTI no greater than 40%; Essex County condos or single-family primary residences only
FHA, Rural Development, VA loan rates are based on $400,000 loan amount, 96.5% loan to value, 780+ credit score, and a 30 day lock.
- Nov 6, 20266.50%▼ from 6.76%
- Oct 31, 20266.76%▼ from 6.89%
- Oct 26, 20266.89%first recorded
30-year fixed rate; Income-based option. Homebuyers may qualify through either the income-based or location-based option; benefits cannot be combined. Example rates as of 10/5/26.
Homepage featured card; 30 Year Fixed; rate 5.75% / APR 5.848%
No additional details available.
Refinance rate; effective 11/02/2026; based on $187,500 loan with property value of at least $250,000; APR based on 750 credit score; 30-year term = 360 months
- Nov 2, 20266.52%▼ from 7.07%
- Oct 28, 20267.07%▼ from 7.10%
- Oct 23, 20267.10%▲ from 6.92%
- Oct 15, 20266.92%▼ from 7.28%
As Low As; Second Home Mortgage
APR as low as 6.193% as of 9/17/2026, based on a $50,000 purchase loan with minimum credit score of 750; Rate effective as of 9/22/2026
Fixed; APR based on $100,000 loan amount
As Low As; 80% loan-to-value; minimum 720 credit score; primary residence; applications received October 1-31, 2026; offer extended October 1 - November 25, 2026; purchase, one-time-close construction-to-permanent, and refinance (1st lien) eligible
As Low As; Featured rate on homepage
- Sep 18, 20266.00%▼ from 8.00%
- Sep 14, 20268.00%first recorded
No additional details available.
Minimum Down Payment: 5%; Estimated Payment Per $1,000: $6.00; APR based on $180,000 loan with 20% equity; owner occupied 1-4 family, purchase or refinance; Rates Effective 9/17/26
15 Year Fixed Mortgage Rates
Effective Date: August 28, 2025; Rates are based on Beacon score of 730 or higher
No additional details available.
As Low As; Owner Occupied
As Low As; Max LTV: Up to 95%
Rate shown with asterisk on homepage; view rates page for full disclosure details
As Low As; Great Rate with low closing costs.
Fixed; APR based on $100,000 loan amount
As Low As; 1st mortgage
Fixed Rate; $250,000 loan, 780 credit score, 80% LTV, purchase, 45-day lock; rate reflects 0.50 pt promotional discount, requires FAIRWINDS checking with $500+ recurring direct deposit or automatic mortgage payments; Last updated 11/04/2026
Effective Date: November 4, 2026
- Oct 26, 20265.65%▼ from 6.15%
- Oct 22, 20266.15%first recorded
Amortization: 15 years; Effective APR calculated using $150,000 borrowed
- Oct 1, 20265.66%▲ from 5.40%
- Sep 16, 20265.40%first recorded
As Low As; Mortgage rates effective as of 9/30/2026
Purchase loan, $200,000 loan amount, $250,000 property value, Winston-Salem NC (Forsyth County), 30-day rate lock, 780 assumed credit score
Mortgage loan; APR shown is the lowest available rate; rates depend on individual creditworthiness
As Low As; APR as low as; 1% Origination Fee charged on all 1st Mortgages. Other fees may apply that could affect the final APR.
- Oct 2, 20265.75%▲ from 5.40%
- Sep 14, 20265.40%first recorded
5/1 ARM Mortgage Rates
Commercial business loan; rates subject to credit and collateral approval; origination fee 1.00% of loan amount
As Low As; Adjustable Rate Mortgage 5/1; Rates subject to increase or decrease after Initial Fixed Period; Loans over $832,750 may be subject to different rates
Initial APR; footnote: APR assumes 30-year term, 2/6 caps, $300,000 loan, 80% LTV, 1% origination fee
Base Rate 5.000%; Initial APR 5.114%; 30-year term, 2% annual / 6% lifetime caps
- Oct 23, 20265.11%▲ from 4.61%
- Oct 13, 20264.61%first recorded
As Low As; Longer Amortization For A Lower Payment
Index: WSP + 0%
Rates effective 10/01/26
Rate fixed for 60 months; annual adjustment cap 2% after 60 months; maximum adjustment for life of loan 4.0%; interest rates effective as of November 2, 2026; may vary based on credit score
- Nov 3, 20265.50%▲ from 5.25%
- Sep 14, 20265.25%first recorded
As Low As; Interest Rate (As Low As) 5.49%; APR* 5.55%; Initial rate in effect for first 60 months, then APR adjusts annually; Maximum term 300 months; Owner occupied properties only; APR based on $50,000 loan at 70% LTV with $650.00 processing fee (Preferred Relationship discount)
Loan to Value: 80%; Origination: 0%; Based on $175,000 loan amount, purchase transaction
Quoted rates assume purchase money mortgage, single-family, owner-occupied dwelling, $150,000 loan amount, $200,000 purchase price, 30-day lock, minimum credit score 740
Rates effective June 3, 2026; Annual Cap: 2.00%; Lifetime Cap: 5.00%; Minimum Loan Amount is $20,000; Maximum Refinance Loan to Value is 90%; Maximum Purchase Money 95% LTV; APR based on 30-day average SOFR index; APR calculated on a $100,000 loan; based on A+ credit rating
As Low As; Maximum Terms 5/15 variable
- Oct 2, 20265.74%▲ from 4.99%
- Sep 18, 20264.99%first recorded
30-Year Jumbo Mortgage Rates
As Low As; Jumbo Mortgages (Greater than $832,750); Note Rate (as low as) 5.240%; APR (as low as) 5.280%
Balloon; Jumbo; Payment: $3,639.81; Based on $650,000.00 borrowed, repaid over five years with a $649,232.53 balloon due at maturity; 1st Adj Rate: N/A; 1st Adj Payment: N/A
- Oct 8, 20265.35%▼ from 5.38%
- Sep 16, 20265.38%first recorded
Jumbo rates calculated assuming 25% down and a loan amount of $832,800; APR assumes loan closes on last day of month
Jumbo Rate; $832,750 loan, 780 credit score, 80% LTV, purchase, 45-day lock; rate reflects 0.50 pt promotional discount, requires FAIRWINDS checking with $500+ recurring direct deposit or automatic mortgage payments; Last updated 11/04/2026
As Low As; Rates as of October 19, 2026; Origination/Discount Fee: 0.750%; California only, LTV less than 80%, excellent credit
Monthly P&I $599.55 per $100,000 borrowed; APR based on $1,200,000 loan
Effective Date: November 4, 2026
- Nov 5, 20266.02%▼ from 6.15%
- Oct 26, 20266.15%▼ from 6.40%
- Oct 22, 20266.40%first recorded
Loan amounts greater than $832,750
As Low As; Rates as of October 19, 2026; Origination/Discount Fee: 0.750%; California only, LTV less than 80%, excellent credit
As Low As; Effective Date: October 28, 2026; Example Loan Amount: $850,000; Example
- Oct 30, 20266.23%▼ from 6.36%
- Oct 19, 20266.36%first recorded
As Low As; Loan amounts greater than $832,750; Rates based on 80% loan to value; Financing available up to 90% loan to value; Origination fees may apply; Construction phase up to 1 year in addition to terms listed
- Oct 23, 20266.25%▼ from 6.65%
- Sep 20, 20266.65%first recorded
Jumbo loan
Jumbo program; Rates effective 11/02/2026
- Oct 19, 20266.28%▲ from 5.78%
- Sep 29, 20265.78%first recorded
Fixed-rate home purchase loan; Our purchase rates
Mortgage rates as of 11/04/2026; based on $800,000 loan amount and 40% down payment
- Nov 5, 20266.35%▼ from 6.73%
- Oct 19, 20266.73%▼ from 7.36%
- Oct 2, 20267.36%▲ from 6.98%
- Sep 18, 20266.98%first recorded
15-Year Jumbo Mortgage Rates
As Low As; Jumbo Mortgages (Greater than $832,750); Note Rate (as low as) 5.240%; APR (as low as) 5.280%
Balloon; Jumbo; Payment: $3,639.81; Based on $650,000.00 borrowed, repaid over five years with a $649,232.53 balloon due at maturity; 1st Adj Rate: N/A; 1st Adj Payment: N/A
- Oct 8, 20265.35%▼ from 5.38%
- Sep 16, 20265.38%first recorded
Jumbo Rate; $832,750 loan, 780 credit score, 80% LTV, purchase, 45-day lock; rate reflects 0.50 pt promotional discount, requires FAIRWINDS checking with $500+ recurring direct deposit or automatic mortgage payments; Last updated 11/04/2026
Effective Date: November 4, 2026
- Oct 26, 20265.65%▼ from 6.15%
- Oct 22, 20266.15%first recorded
Jumbo rates calculated assuming 25% down and a loan amount of $832,800; APR assumes loan closes on last day of month
As Low As; Rates as of October 19, 2026; Origination/Discount Fee: 0.750%; California only, LTV less than 80%, excellent credit
Jumbo Rate; $832,750 loan, 780 credit score, 80% LTV, purchase, 45-day lock; rate reflects 0.50 pt promotional discount, requires FAIRWINDS checking with $500+ recurring direct deposit or automatic mortgage payments; Last updated 11/04/2026
As Low As; Rates as of October 19, 2026; Origination/Discount Fee: 0.750%; California only, LTV less than 80%, excellent credit
Monthly P&I $599.55 per $100,000 borrowed; APR based on $1,200,000 loan
Jumbo rates calculated assuming 25% down and a loan amount of $832,800; APR assumes loan closes on last day of month
Effective Date: November 4, 2026
- Nov 5, 20266.02%▼ from 6.15%
- Oct 26, 20266.15%▼ from 6.40%
- Oct 22, 20266.40%first recorded
Fee: 0.500%
Jumbo Mortgage; for loans over $832,750; fixed and/or variable rates; available for investment properties; APR assumes $900,000 loan amount, 20% down payment, $1,050 origination fee; rate discount 0.125% with ALPA not available for loan amounts over $1,000,000
- Nov 5, 20266.14%▼ from 6.39%
- Oct 22, 20266.39%first recorded
Jumbo Fixed-Rate Mortgage; rates valid as of 11/05/2026; 0.125% ALPA discount available
Jumbo loan; Rates are accurate as of 11/04/2026 9:30 am
- Nov 5, 20266.15%▼ from 6.40%
- Oct 19, 20266.40%▼ from 6.53%
- Oct 10, 20266.53%first recorded
5/1 Jumbo ARM Mortgage Rates
Home Mortgage Lending Rates; first column APR as low as 5.750%, second column APR as low as 5.950%
- Nov 5, 20265.95%▲ from 5.69%
- Oct 14, 20265.69%first recorded
No additional details available.
- Nov 3, 20265.99%▼ from 6.10%
- Oct 29, 20266.10%▲ from 6.07%
- Oct 26, 20266.07%▼ from 6.12%
- Oct 19, 20266.12%▲ from 6.10%
As Low As; Estimated Payment per $10,000: $59.96; Loan amounts greater than $832,750; 5/5 adjustable-rate mortgage; minimum down payment 5%
- Oct 2, 20266.04%▲ from 5.79%
- Sep 20, 20265.79%▲ from 5.54%
- Sep 14, 20265.54%first recorded
As Low As; Min. Down Payment: 10%; Terms Available: Fixed: 15, 20, 30; ARMS: 5, 7, 10 Year Initial Fixed Rate Periods
As Low As; Jumbo loan (loans over $766,550); Current Calculation of Rate Remaining Term: 7.000%; Rate fixed 5 years then adjusts every 5 years; Up to 97% LTV for first-time homebuyers, 95% for other purchases
Amount: $832,751 to $2,500,000
- Oct 30, 20266.47%▼ from 6.52%
- Oct 19, 20266.52%▼ from 6.57%
- Oct 2, 20266.57%▲ from 6.49%
- Sep 27, 20266.49%▲ from 6.32%
As Low As; Effective October 1, 2026
- Oct 19, 20266.48%▼ from 6.75%
- Sep 14, 20266.75%first recorded
As Low As; Effective October 1, 2026
Amount: $832,751 to $2,500,000; California properties only
Mortgage; Jumbo ARM; 5-year initial fixed period, adjusts annually after initial period; Owner occupied
- Nov 3, 20266.53%▼ from 6.60%
- Oct 29, 20266.60%▲ from 6.53%
- Oct 26, 20266.53%▼ from 6.60%
- Oct 13, 20266.60%▲ from 6.45%
Interest Rates As Low As; ARM Loan assumptions: 720 FICO, down payment of 30%
- Nov 5, 20266.53%▼ from 6.65%
- Oct 31, 20266.65%▼ from 6.78%
- Oct 20, 20266.78%▼ from 6.83%
- Oct 6, 20266.83%▲ from 6.75%
FHA Loan Rates
Mortgage Refinancing; FHA; Rates Effective Date: November 3, 2026; APR = Annual Percentage Rate
FHA, Rural Development, VA loan rates are based on $400,000 loan amount, 96.5% loan to value, 780+ credit score, and a 30 day lock.
- Nov 6, 20266.50%▼ from 6.76%
- Oct 31, 20266.76%▼ from 6.89%
- Oct 26, 20266.89%first recorded
Rate "As Low As"; APR "As Low As"; Example loan amount $300,000; Example; Effective Date: October 28, 2026
- Oct 30, 20266.52%▼ from 6.65%
- Oct 13, 20266.65%first recorded
No additional details available.
- Nov 5, 20266.58%▼ from 6.70%
- Oct 26, 20266.70%▼ from 6.96%
- Oct 14, 20266.96%▼ from 7.08%
- Sep 27, 20267.08%▲ from 6.58%
No additional details available.
- Nov 5, 20266.58%▼ from 6.70%
- Oct 26, 20266.70%▼ from 6.96%
- Oct 14, 20266.96%▼ from 7.08%
- Sep 27, 20267.08%▲ from 6.58%
No additional details available.
- Nov 6, 20266.62%▼ from 7.00%
- Oct 11, 20267.00%▲ from 6.62%
- Sep 27, 20266.62%▼ from 6.65%
- Sep 15, 20266.65%first recorded
Mortgage Rates table; All rates assume credit scores of 740 and above; loan amounts between $126,000 and $647,200; rates subject to change
Refinance rate; effective 11/02/2026; based on $187,500 loan with property value of at least $250,000; APR based on 750 credit score; 30-year term = 360 months
- Nov 2, 20266.66%▼ from 6.82%
- Oct 28, 20266.82%▼ from 6.88%
- Oct 23, 20266.88%▼ from 7.01%
- Oct 15, 20267.01%▼ from 7.05%
Rates accurate as of October 19, 2026
Rates accurate as of October 19, 2026
FHA Mortgages; Rate: 5.875%; APR: 6.758%
Mortgage Loans (Purchase); Effective November 4, 2026; APR includes approx. one discount point
- Nov 5, 20266.77%▼ from 6.88%
- Oct 30, 20266.88%▼ from 7.04%
- Oct 26, 20267.04%▼ from 7.19%
- Oct 10, 20267.19%▼ from 7.29%
Mortgage rates as of 11/04/2026; based on $200,000 loan amount and 40% down payment
- Nov 5, 20266.78%▼ from 6.92%
- Oct 30, 20266.92%first recorded
As Low As
- Nov 5, 20266.79%▼ from 6.92%
- Oct 30, 20266.92%▼ from 7.17%
- Oct 14, 20267.17%▼ from 7.30%
- Sep 30, 20267.30%first recorded
Origination Fee: $1595; Fixed Rate Mortgage
VA Loan Rates
Special Rate; Variable; TD Mortgage Prime Rate 4.85% -0.31%
As Low As; Type: 3 year/1 year variable rate
As Low As; APR as low as; 1% Origination Fee charged on all 1st Mortgages. Other fees may apply that could affect the final APR.
- Oct 2, 20265.50%▲ from 5.15%
- Sep 14, 20265.15%first recorded
As Low As; APR as low as; 1% Origination Fee charged on all 1st Mortgages. Other fees may apply that could affect the final APR.
- Oct 2, 20265.75%▲ from 5.40%
- Sep 14, 20265.40%first recorded
As Low As; APR as low as; 1% Origination Fee charged on all 1st Mortgages. Other fees may apply that could affect the final APR.
- Oct 2, 20266.00%▲ from 5.65%
- Sep 14, 20265.65%first recorded
Origination Fee: 0%
- Nov 5, 20266.00%▼ from 6.25%
- Oct 10, 20266.25%▼ from 6.43%
- Sep 18, 20266.43%▲ from 6.30%
- Sep 14, 20266.30%first recorded
Example loan $300,000; effective 11/2/2026; rates for owner occupied 1-4 unit purchase or refinance; APR includes 1% lender fee
- Nov 3, 20266.20%▼ from 6.34%
- Oct 26, 20266.34%▼ from 6.49%
- Oct 9, 20266.49%▲ from 6.09%
- Sep 14, 20266.09%first recorded
Payment per $1,000: $8.51; No down payment required; $1,600 closing costs; Minimum credit score 620; Certificate of Eligibility required; APR calculated on $100,000 loan amount
- Nov 3, 20266.21%▼ from 6.34%
- Oct 26, 20266.34%▼ from 6.46%
- Oct 13, 20266.46%▼ from 6.59%
- Oct 2, 20266.59%▲ from 6.46%
As Low As; Veterans Appreciation Month VA loan rate; 0.25% discount already reflected for eligible Servicemembers and Veterans; No down payment required; Rates as of Nov 05, 2026 ET
As Low As; APR as low as; 1% Origination Fee charged on all 1st Mortgages. Other fees may apply that could affect the final APR.
- Oct 2, 20266.25%▲ from 5.90%
- Sep 14, 20265.90%first recorded
Fixed-rate home purchase loan; Our purchase rates
Fixed-rate home purchase loan; Our purchase rates
VA loan; Interest rate 5.875%, APR 6.385%; Payment example: $400,000 loan, LTV 100%, $6,264 discount points; APRs updated daily
- Nov 5, 20266.39%▼ from 6.52%
- Oct 28, 20266.52%first recorded
Home loans over $832,750; Adjustable rate; Rate effective November 02, 2026
- Nov 3, 20266.41%▼ from 6.80%
- Oct 23, 20266.80%▼ from 6.86%
- Oct 15, 20266.86%▲ from 6.80%
- Oct 13, 20266.80%▼ from 6.87%
As Low As; Rates effective 10/23/2026; Maximum loan amount $832,750.00; assumes purchase price $175,000 and minimum credit score 740
Banks and Credit Unions: If you need to update your rate data or request removal from MonitorBankRates.com, please contact us here.
National Mortgage Rate Trends
Daily mortgage rate averages tracked across our database of verified mortgage rate quotes, updated every evening.
The national 30-year fixed average mortgage rate fell 0.030 points this week to 7.183%, according to MonitorBankRates trend data.
The national 15-year fixed average mortgage rate fell 0.033 points this week to 6.734%, according to MonitorBankRates trend data.
National Mortgage Rate Forecast, Next 12 Months
Where are U.S. mortgage rates headed through November 2027?
Based on Fed funds rate futures, 10-year Treasury yield path, and historical mortgage spread model. Not financial advice.
What Forecast Rates Mean for U.S. Home Buyers
Monthly principal & interest on U.S. median home of $303,400 with 20% down, 30-year fixed (U.S. Census Bureau)
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (National avg) | 7.183% | $1,645 | , | 24.4% |
| 6-Month Forecast | 7.183% (6.83–7.48%) | $1,645 | +$0/mo | 24.4% |
| 12-Month Forecast | 7.433% (7.08–7.73%) | $1,686 | +$41/mo | 25.1% |
Income column = annual mortgage payment as % of U.S. median household income ($80,734). Above 30% is generally considered cost-burdened.
U.S. Housing Affordability
The MonitorBankRates Housing Affordability Index (MBR-HAI) measures how affordable homeownership is today compared with the national baseline. Scores update each morning, computed from rate data captured the previous night. It combines live mortgage rates from our lender network with U.S. Census Bureau income, home value and cost data. A score of 100 equals the baseline; higher is more affordable.
- National MBR-HAI Score: 97.7 Near Average (Nov 6, 2026)
- Average 30-Year Rate: 7.18% (2,250 lenders)
- Most Affordable State: West Virginia 145.2
- Least Affordable State: California 67.6
- Rate Quotes Used: 14,569
- States Tracked: 51 (50 states and D.C.)
What the Score Measures
The index asks how much income a typical household needs to buy the typical home at today’s rates, then compares that with what households actually earn. It is built from rates lenders publish, not estimates or survey data. Today’s national score of 97.7 is below the long run baseline. A 0.25% move in rates shifts it by about 0.8-1.0 points.
- 120+ Very Affordable
- 110 to 119 Affordable
- 95 to 109 Near Average
- 85 to 94 Less Affordable
- 50 to 84 Much Less Affordable
- Below 50 Least Affordable
How Mortgage Rates Impact Home Affordability in the U.S.
National Housing Market Overview
The median owner-occupied home value in the United States is approximately $303,400, according to the U.S. Census Bureau. The 2026 FHFA conforming loan limit is $832,750 for most counties, with higher limits in designated high-cost areas.
National Homeownership Rate
Monthly Payment Estimates for U.S. Home Buyers
Based on a 20% down payment on the national median home value, a $240,000 loan at current national average rates:
| Interest Rate | Loan Term | Monthly Payment | Total Interest Paid |
|---|---|---|---|
| 6.683% | 30-year fixed | $1,546 | $316,546 |
| 7.183% Current Avg | 30-year fixed | $1,626 | $345,479 |
| 7.683% | 30-year fixed | $1,708 | $374,985 |
| 6.734% | 15-year fixed | $2,122 | $141,898 |
A 0.500% rate increase on a $240,000 loan adds roughly $82 per month and over $29,506 in total interest over 30 years. That’s why comparing verified rates from multiple lenders, using the table above, is one of the most impactful financial decisions a home buyer can make.
Compiled by MonitorBankRates using data from the U.S. Census Bureau and the Federal Housing Finance Agency. Monthly payments shown are principal & interest only.
U.S. Income & Housing Affordability
At a price-to-income ratio of 3.8x, the national housing market reflects moderate affordability pressure across most regions, though that average masks significant variation between high-cost coastal markets and more affordable interior metros.
What This Means for U.S. Buyers
With a national median household income of $80,734 per year ($6,728/month) and a median home value of approximately $303,400, a typical buyer financing at 80% LTV at current average rates would spend roughly 24.2% of gross monthly income on principal and interest alone. that falls within a manageable range, though taxes, insurance, and PMI will add to the true monthly cost.
Compiled by MonitorBankRates using data from the U.S. Census Bureau. Payment estimate assumes 80% LTV at current average rate; principal and interest only.
Full Cost of Homeownership in the U.S.
A mortgage payment is only part of what homeowners pay each month. Property taxes, insurance, and utilities add hundreds of dollars more, and the gap between owning and renting varies dramatically depending on where you live.
Owner vs. Renter Costs
Housing Cost Burden
Nationally, 28% of mortgage holders spend more than 30% of gross household income on housing, the federal threshold for “cost burdened.” For renters, that figure is 47.6%. Nearly one in four renters (24.1%) are severely cost burdened, spending 50% or more of income on rent alone.
These national averages mask significant geographic variation. In high-cost metros like Los Angeles, San Francisco, and New York, owner cost burden rates exceed 40-45%, well above the national norm. In lower-cost markets across the Midwest and South, the same income goes substantially further. Use the state and city pages to see how your specific market compares.
Compiled by MonitorBankRates using data from the U.S. Census Bureau.
Mortgage Payment Calculator
See your estimated monthly principal & interest payment at today’s rates. The home price is prefilled with the U.S. median home value. Adjust anything, or click a current national rate on the right to apply that loan type’s rate and term instantly.
Principal & interest only, excludes property taxes, homeowners insurance, PMI, and HOA dues. See the Full Cost of Homeownership section above for those figures. Estimates are for informational purposes only.
Run the Numbers on Your Home Loan
Rates are only part of the equation. Use these calculators to translate current national mortgage rates and home loan rates into real numbers for your specific situation, before you request quotes from mortgage lenders.
Enter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateEnter your current rate, remaining balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, monthly savings, and the break-even point, the number of months it takes for your savings to cover closing costs.
CalculateBuying isn’t always the better financial decision. This calculator weighs the full cost of each path: mortgage payments, taxes, insurance, and maintenance against rent increases and the opportunity cost of a down payment, to show which option builds more wealth over your time horizon.
CalculateTypes of Mortgages Available Nationwide
Not every loan program is right for every buyer. Rates, down payment requirements, eligibility rules, and long-term costs vary significantly. Understanding the differences before you compare lenders can save thousands over the life of your loan.
Fixed-Rate Mortgage
A fixed-rate mortgage locks your interest rate in for the entire loan term. Your principal and interest payment on day one is identical to payment 360. That predictability is valuable for long-term financial planning, especially with current rates where locking in could protect against future increases.
Available in 10-, 15-, 20-, and 30-year terms. The 30-year minimizes monthly payments; the 15-year cuts total interest paid dramatically. The payment comparison table above shows exactly how those trade-offs look at today’s national rate levels.
Adjustable-Rate Mortgage (ARM)
An ARM offers a fixed introductory rate for an initial period, commonly 5, 7, or 10 years, after which the rate adjusts periodically based on a market index. The starting rate is typically lower than a comparable fixed-rate loan.
ARMs work best when you have a defined exit timeline. Rate caps govern how much the rate can move at each adjustment and over the life of the loan, so review those terms closely before committing.
FHA Loan
Backed by the Federal Housing Administration, FHA loans are built for buyers who don’t yet meet conventional loan standards. You can qualify with a credit score of 580 and just 3.5% down, and some lenders will consider scores as low as 500 with a 10% down payment.
FHA loans carry an upfront MIP of 1.75% of the loan amount plus an annual MIP of 0.15% to 0.75% depending on term and LTV. For many first-time buyers, FHA is the fastest path to ownership.
VA Loan
Available to eligible active-duty service members, veterans, reservists, National Guard members, and qualifying surviving spouses. No down payment is required, there is no monthly mortgage insurance, and rates are generally competitive with, and often better than, conventional loan rates.
A one-time funding fee applies, 2.15% for first-time VA borrowers with no down payment, which can be financed into the loan.
Jumbo Loan
The 2026 FHFA conforming loan limit is $832,750 for most counties. Any mortgage above that threshold is a jumbo loan, falling outside Fannie Mae and Freddie Mac guidelines, meaning lenders carry the full risk and price it accordingly.
Jumbo underwriting is stricter: lenders typically require a credit score of 700+, substantial cash reserves, and a down payment of at least 10 to 20%. Rates may run slightly above conforming levels, though the gap narrows in competitive lending environments.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our nationwide mortgage rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Mortgage Rate Data: We aggregate mortgage and refinance rates nationwide directly from the official websites of lenders, banks, and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. Every rate displayed on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products across the country. We feature a comprehensive mix of institutions, from neighborhood credit unions and competitive regional banks to large national online lenders.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage rates daily. Because mortgage rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own specific “last updated” date for full transparency.
Proprietary Lender Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data, including the Texas Ratio, ensuring you are comparing rates from secure, reliable lenders.
Frequently Asked Questions about Mortgage Rates
What are mortgage rates today?
What are home loan rates today?
What is a 30-Year Fixed Mortgage?
How does my credit score affect my rate?
What are closing costs?
Should I lock my mortgage rate?
What is an Adjustable-Rate Mortgage (ARM)?
What is a Jumbo Loan?
Do I need a 20% down payment?
What is the difference between Interest Rate and APR?
Can I refinance my mortgage later?
How do I compare mortgage lenders?
How do I get mortgage quotes?
What is the national homeownership rate?
What is the median home value in the United States?
What is the median household income in the United States?
What percentage of homeowners are cost burdened nationally?
What is the median rent in the United States?
What are the best Mortgage rates nationally?
- H & E Telephone Federal Credit Union: 5.25% APR (First Mortgage - 30 Year Fixed)
- Advance Financial Federal Credit Union: 5.625% (30-Year Fixed Mortgage)
- Institution for Savings: 5.625% (First-Time/Affordable Homebuyer Loan - 30 Year Fixed)
- Citizens Bank of Kansas: 5.635% (FHA 30 Year Fixed Mortgage)
- Frost Bank: 5.75% (Frost Progress Mortgage Options - 30-year fixed-rate (Income-based))
Mortgage Rates & Home Loan Rates by State
