Average Mortgage Rates Drop Sharply Across All 9 Products;
30-Year Fixed Falls to 6.252%
Week Ending April 7, 2026
All 9 tracked mortgage products fell this week, led by ARMs. The 5/1 ARM posted the largest decline at −0.370 points, with the 30-year fixed dropping 0.140 points to its lowest reading in recent weeks.
NATIONAL — National mortgage rates fell sharply across all nine tracked products for the week ending April 7, 2026, with the benchmark 30-year fixed rate dropping to 6.252% — a decline of 0.140 percentage points from the prior week's 6.392%. The 15-year fixed fell 0.194 points to 5.845%, dropping back below the 6% threshold. The spread between the two flagship fixed products widened to 0.407 percentage points.
All 9 tracked mortgage products fell this week. The 5/1 ARM led declines at −0.370 points to 5.778%, the 3/1 ARM dropped −0.344 to 5.695%, and the 7/1 ARM fell −0.251 to 5.895%. Fixed rates also retreated, with the 30-year fixed down 0.140 points and the 15-year fixed dropping 0.194 points below the 6% threshold.
ARMs led the week's declines. The 5/1 conventional ARM posted the period's largest drop, falling 0.370 points to 5.778%. The 3/1 ARM fell 0.344 points to 5.695%, and the 7/1 ARM declined 0.251 points to 5.895%. The ARM segment as a whole now sits well below the 30-year fixed, with the 5/1 ARM at 5.778% offering a 0.474-point spread versus the 30-year fixed at 6.252% — a meaningful incentive for borrowers comfortable with rate adjustment risk.
Jumbo products also retreated. The 30-year jumbo fell 0.097 points to 6.362%, partially reversing last week's dramatic 0.525-point surge. The 15-year jumbo dropped 0.182 points to 5.903%. Government-backed products moved modestly lower: FHA declined 0.044 points to 5.944% and VA eased 0.010 points to 6.040%.
| Loan Product | Mar. 29 Avg | Apr. 7 Avg | Weekly Change |
|---|---|---|---|
| Conventional Fixed-Rate Mortgages | |||
| 30-Year FixedMost common purchase loan · conforming limits | 6.392% | 6.252% | ▼ −0.140 |
| 15-Year FixedPopular refinance product · faster payoff | 6.039% | 5.845% | ▼ −0.194 |
| Conventional Adjustable-Rate Mortgages (ARM) | |||
| 3/1 Conventional ARMFixed 3 years · then annual adjustments | 6.039% | 5.695% | ▼ −0.344 |
| 5/1 Conventional ARM ▼Fixed 5 years · then annual adjustments · week's largest drop | 6.148% | 5.778% | ▼ −0.370 |
| 7/1 Conventional ARMFixed 7 years · then annual adjustments | 6.146% | 5.895% | ▼ −0.251 |
| Jumbo Fixed-Rate Mortgages (Above Conforming Limits) | |||
| 30-Year JumboHigh-balance loans above $806,500 · partial reversal of last week's surge | 6.459% | 6.362% | ▼ −0.097 |
| 15-Year JumboFaster equity build on high-value property | 6.085% | 5.903% | ▼ −0.182 |
| Government-Backed Loans | |||
| FHA LoansGov't-backed · low down payment · 3.5% min | 5.988% | 5.944% | ▼ −0.044 |
| VA LoansVeterans & active military · no PMI required | 6.050% | 6.040% | ▼ −0.010 |
| FHA rates collected from 102 institutions (188 quotes). VA rates collected from 87 institutions (158 quotes). Full tables: FHA rates · VA rates | |||
| All rates are national weekly averages. MonitorBankRates.com's proprietary systems collect and verify rates daily — tracking what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates or teaser rates. Data as of April 7, 2026. Rates are not APR; they exclude fees, points, insurance, and taxes. ▼ The 5/1 ARM's −0.370 drop is the largest weekly change among all 9 tracked products this period. Source: MonitorBankRates.com. | |||
The sharp, broad-based decline across all nine mortgage products this week reflects a significant retreat in U.S. Treasury yields. When investors move toward the safety of Treasury bonds, yields fall — and mortgage rates, which are closely tied to the 10-year Treasury, follow. The move was consistent across product types, with ARMs showing the largest percentage drops and fixed-rate products retreating more modestly.
The 30-year jumbo's retreat to 6.362% partially reverses last week's dramatic 0.525-point surge. Jumbo loans are held in portfolio by lenders rather than sold through the GSEs, so they reprice independently based on each institution's funding costs and risk appetite — which can produce amplified moves in both directions. The 15-year jumbo's drop to 5.903% now puts it below the 30-year fixed rate, creating an unusually flat pricing relationship between these products.
With the spring homebuying season underway, this week's broad rate decline may provide a window of opportunity for purchase and refinance borrowers. The 30-year fixed at 6.252% and 15-year fixed at 5.845% remain historically elevated but represent meaningful improvement from recent weeks. ARM borrowers in particular are seeing competitive rates — the 5/1 ARM at 5.778% offers the lowest nationally-tracked average among conventional products this week. Compare the best mortgage rates from lenders nationwide →
All averages in this release are calculated from rates collected directly from institution websites by MonitorBankRates.com’s proprietary systems — tracking what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates or teaser rates.
For the week ending April 7, 2026, the database yielded 3,423 verified rate quotes across all 9 products, sourced from 1,723 institution-product combinations. The table below shows the actual counts per product — coverage depth varies significantly by product type.
| Product | Institutions | Quotes Verified |
|---|---|---|
| 30-Year Fixed | 439 | 926 |
| 15-Year Fixed | 412 | 735 |
| 3/1 Conventional ARM | 75 | 107 |
| 5/1 Conventional ARM | 316 | 852 |
| 7/1 Conventional ARM | 191 | 317 |
| 30-Year Jumbo | 65 | 89 |
| 15-Year Jumbo | 36 | 51 |
| FHA Loans | 102 | 188 |
| VA Loans | 87 | 158 |
| Total | 1,723 combos | 3,423 |
The 1,723 figure reflects institution-product combinations — institutions reporting multiple products are counted once per product. The 3,423 quote total is the sum of all individual product-rate records. Specialty products such as the 3/1 ARM (107 quotes) and 15-Year Jumbo (51 quotes) have narrower coverage than broadly-offered products like the 30-Year Fixed (926 quotes).
MonitorBankRates.com is an independent financial data publisher collecting and verifying deposit, lending, and mortgage rates directly from the public websites of thousands of banks and credit unions across the United States. For media inquiries, custom data requests, or licensing information, visit monitorbankrates.com/contact-us.
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Web: www.monitorbankrates.com
Rate data: monitorbankrates.com/mortgage-loan-rates/trends/
