Today’s Mortgage and Refinance Rates: April 26, 2022


Several benchmark mortgage refinance rates increased today. The average rates on both the 15-year and 30-year fixed mortgages increased. On 10-year fixed refinancing mortgages, the average rate remained unchanged.

“There have been bigger moves in mortgage rates in the past, but they took significantly longer to unfold,” says Greg McBride, chief financial analyst at Bankrate, recently told NextAdvisor. In the near term, one of the top ways to offset rising rates is to get quotes from at least two or three lenders.

For more information on getting a grant and also learning about refinance programs, take a look at this.

According to Freddie Mac, the average 30-year fixed mortgage rate has increased every week for nearly two months and is now at 5.11%. In April 2010, rates were at this level for the first time.

Mortgage rates today

Mortgage typeAverage rate today
30-year fixed4.93 %
20-year fixed4.73 %
15-year fixed4.14 %
7/1 ARM4.02 %
5/1 ARM4.48 %
30-year FHA4.17 %
30-year VA2.84 %
This information has been provided by Zillow. See more mortgage rates on Zillow.

The current average 30-year fixed mortgage rate fell 1 basis point from 4.94% to 4.93% on Tuesday, Zillow announced. The 30-year fixed mortgage rate on April 26, 2022, is down 6 basis points from the previous week’s average rate of 4.99%. Additionally, the current national average 15-year fixed mortgage rate decreased 3 basis points from 4.17% to 4.14%. The current national average 5-year ARM rate is down 9 basis points from 4.26% to 4.17%.

Mortgage rates typically vary from lender to lender. A number of factors such as the borrower’s credit history, down payment amount, or the home’s value, as well as inflation, job growth, and other economic factors, affect these rates. So, 2022 has been characterized by rising rates. Many experts think the average rate on this loan will be 3.5 to 4 percent by the end of 2022.

For more information on getting a grant and also learning about refinance programs, take a look at this.

You can choose between two types of mortgages to determine how much interest you’ll pay and if your rate will change later: a fixed-rate mortgage or an adjustable-rate mortgage. With a fixed-rate mortgage, your interest rate remains the same for the entire life of the loan. If you have a 30-year mortgage, you’ll pay the same rate today as you will 30 years from now. With an adjustable-rate mortgage, commonly referred to as an ARM, rates and monthly payments remain the same for a set period of time, then change periodically. For example, a 5/1 ARM (adjustable-rate mortgage) would have a fixed rate for the first five years of the loan, then change every year after that.

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