If you're thinking about purchasing or refinancing a house, you're probably thinking about mortgage rates. Yet, if you're not familiar with the intricacies of mortgages and accounting, mortgage rates can be confusing. That's why we're here to help you understand the basics of mortgage rates.

The widget below can help you research the best options for your needs!

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$1,476
per month
APR: 4.269%
Rate: 4.250%
Wed Jul 18
Fees: $675
Points: 0.000
Lock: 30 days
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$1,498
per month
APR: 4.375%
Rate: 4.375%
Wed Jul 18
Fees: $0
Points: 0.000
Lock: 30 days
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$1,498
per month
APR: 4.377%
Rate: 4.375%
Wed Jul 18
Fees: $82
Points: 0.000
Lock: 30 days
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$1,498
per month
APR: 4.387%
Rate: 4.375%
Wed Jul 18
Fees: $428
Points: 0.000
Lock: 30 days
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$1,498
per month
APR: 4.392%
Rate: 4.375%
Wed Jul 18
Fees: $607
Points: 0.000
Lock: 30 days
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$1,518
per month
APR: 4.490%
Rate: 4.490%
Wed Jul 18
Fees: $0
Points: 0.000
Lock: 30 days
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$1,518
per month
APR: 4.499%
Rate: 4.490%
Wed Jul 18
Fees: $299
Points: 0.000
Lock: 45 days
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$1,520
per month
APR: 4.500%
Rate: 4.500%
Wed Jul 18
Fees: $0
Points: 0.000
Lock: 30 days
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$1,520
per month
APR: 4.500%
Rate: 4.500%
Wed Jul 18
Fees: $0
Points: 0.000
Lock: 30 days
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$1,520
per month
APR: 4.514%
Rate: 4.500%
Mon Jul 16
Fees: $495
Points: 0.000
Lock: 30 days
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$1,520
per month
APR: 4.525%
Rate: 4.500%
Wed Jul 18
Fees: $895
Points: 0.000
Lock: 45 days
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$1,542
per month
APR: 4.650%
Rate: 4.625%
Wed Jul 18
Fees: $865
Points: 0.000
Lock: 45 days
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$1,542
per month
APR: 4.653%
Rate: 4.625%
Wed Jul 18
Fees: $973
Points: 0.000
Lock: 30 days
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$1,565
per month
APR: 4.802%
Rate: 4.750%
Wed Jul 18
Fees: $1,787
Points: 0.000
Lock: 60 days
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What are mortgage rates?

Mortgage rates are just a specialized type of interest that's charged on a mortgage. When you buy a house, you'll need to take out a mortgage loan to finance your new home. The rate of interest on your mortgage - the mortgage rate - is one of the most important things to consider when looking for financing. You want to find the lowest possible rate because, depending on whether the rates you chose are fixed or adjustable, how long the mortgage is, and other factors, you might end up spending (or saving!) a lot of money.

Where do mortgage rates come from?

Your own mortgage rate will be based on many things, including your credit score, the down payment and points you're paying upfront for the house, the type of property you're buying, and other economic factors such as the stock market.

Why do mortgage rates change so often?

Mortgage rates tend to rise and fall with the economy. Although if you have a great credit score your mortgage rate will likely be lower, in general mortgage rates are highly influenced by the housing market, especially by mortgage bonds. The yield of the 10-year Treasury bond in particular can indicate current market trends. The higher the yield, the higher the mortgage rates and vice versa.

Why should I check for mortgage rates?

Even the smallest savings in mortgage rates can save you thousands of dollars over the years. That's why it's so important to do your homework on mortgage rates and make sure you find the best deal possible for your financial situation!