Mortgage Rates Fall for a Fourth Week;
30-Year Fixed Drops to 6.094%
Week Ending April 27, 2026

All 9 tracked mortgage products declined this week as rates extended their four-week retreat. The benchmark 30-year fixed fell to 6.094%, while ARM products and jumbo loans posted larger drops. The 15-year jumbo led declines at −0.096 points to 5.676%.

📊 Full week-over-week data for all 9 mortgage loan products tracked by MonitorBankRates.com.

NATIONAL — National mortgage rates declined across all 9 tracked products for the week ending April 27, 2026 — the fourth consecutive week of broad-based declines. 30-year fixed rates fell 0.024 points to 6.094%, the benchmark’s lowest level in this cycle. The cumulative decline now stands at 0.298 points over four weeks from the 6.392% recorded the week of March 29. ARM products and jumbo loans posted larger weekly drops than the conforming fixed segment, with 15-year jumbo rates leading at −0.096 points to 5.676%.

Fixed-rate conventional products continued to ease, but at different speeds. The 30-year fixed’s 0.024 point decline to 6.094% was the smallest weekly move in the four-week decline streak. 15-year fixed rates were essentially unchanged at 5.726%, down just 0.001 points. The 30-to-15 fixed spread held at 0.368 percentage points, slightly tighter than last week’s 0.391. The cumulative four-week decline of 0.298 points on the 30-year benchmark has meaningfully reduced monthly payment estimates for purchase borrowers tracking the benchmark.

The ARM segment posted larger declines than the fixed segment for the first time in this cycle. 3/1 ARM rates dropped 0.062 points to 5.681%. 5/1 ARM rates fell 0.042 points to 5.727%. 7/1 ARM rates declined 0.062 points to 5.799%. The 5/1 ARM-to-30-year-fixed spread widened to −0.367 percentage points from last week’s −0.349, restoring more of the traditional ARM advantage that had narrowed during the first three weeks of the broader decline.

Jumbo products posted divergent moves. 30-year jumbo rates fell 0.062 points to 6.101%. 15-year jumbo rates dropped 0.096 points to 5.676% — the week’s steepest single-product decline. The jumbo-to-conforming spread on the 30-year reopened slightly to 0.007 percentage points, still historically tight but no longer at the near-parity recorded last week. The 15-year jumbo at 5.676% is now 0.050 points below the 15-year fixed conforming at 5.726% — an unusual inversion that reflects the smaller jumbo borrower pool repricing more aggressively.

Government-backed products eased more modestly. FHA rates dropped 0.062 points to 5.735%, while VA rates were essentially unchanged at 5.881%, down just 0.004 points. The FHA-to-VA gap widened to 0.146 points, with FHA continuing to drift lower while VA rates have held steadier over the past two weeks. Both government products remain priced well below the conventional 30-year fixed, preserving their value for eligible borrowers.

A fourth consecutive week of broad mortgage rate declines is a sustained run, and the 0.298 cumulative drop on the 30-year fixed since the week of March 29 is now at the upper end of what tariff-related Treasury volatility has historically produced in similar episodes. The pattern this week shifted, however: ARM products and jumbo loans dropped meaningfully more than the conforming fixed segment for the first time in this cycle. That kind of repricing typically happens when the initial wave of declines has worked through conforming pipelines and institutions begin trimming the products they hold on balance sheet — ARMs and jumbos — to remain competitive on borrower-facing rates.

The 15-year jumbo’s 0.096 point drop to 5.676% is the most aggressive single move in this cycle and pushes that product 0.050 points below the conforming 15-year fixed — an inversion that doesn’t typically persist. The 30-year jumbo at 6.101% is now just 0.007 points above the 30-year fixed at 6.094%, meaning jumbo borrowers are effectively paying conforming rates. Both signals point to elevated bank competition for high-balance portfolio loans. Whether this continues depends on Treasury yield direction next week and on whether banks tighten back up after the recent aggressive repricing — comparing rates from multiple lenders remains the most reliable way to capture the best available pricing in a fast-moving market. Track how rates across all 9 products evolve week to week on the national mortgage rate trends page.