Today’s Mortgage and Refinance Rates: April 28, 2022


The current average 30-year fixed mortgage rate climbed 6 basis points from 4.89% to 4.95% on Thursday, Zillow announced. The 30-year fixed mortgage rate on April 28, 2022 is down 4 basis points from the previous week‘s average rate of 4.99%. Additionally, the current national average 15-year fixed mortgage rate increased 5 basis points from 4.12% to 4.17%. The current national average 5-year ARM rate is up 16 basis points from 4.27% to 4.43%.

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

Mortgage rates today

Mortgage typeAverage rate today
30-year fixed4.95%
20-year fixed4.75%
15-year fixed4.17%
7/1 ARM4.79%
5/1 ARM4.43%
30-year FHA4.23%
30-year VA4.42%
This information has been provided by Zillow. See more mortgage rates on Zillow.

Thirty-year mortgage refinance rates have moved every day this week, bouncing back up after declining for two straight days. Meanwhile, rates for 20-, 15- and 10-year refinances held steady, with 10-year rates notching a fifth straight day at 4.5%.

Mortgage rates have risen for 20- and 30-year durations after decreasing for all three terms yesterday. Homebuyers hoping to save money on interest can consider a 15-year loan, which has been at 4.5 percent for the past nine days. Despite the fact that this mid-length term has a higher payment than a longer-term, it may allow consumers to pay off their mortgages sooner.

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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