What is a good mortgage rate right now?

Rates change daily and depend heavily on your credit, down payment, and loan type. Comparing quotes from at least three lenders is the most reliable way to find your best rate.

Should I choose a 15-year or 30-year mortgage?

A 15-year loan costs far less in total interest but has a much higher monthly payment. A 30-year loan keeps payments lower and offers flexibility to pay extra when you can.

When does refinancing make sense?

A common rule of thumb is refinancing when you can lower your rate by about 0.75–1% and plan to stay in the home long enough to recoup closing costs.

Will getting prequalified affect my credit?

Many lenders use a soft pull for prequalification, which doesn't affect your score. Multiple mortgage hard inquiries within a short shopping window typically count as one.

Best Mortgages of October 2026

Compare mortgage rates for purchase, refinance, and home equity.

Updated October 19, 2026 ·

Illustration of a house with keys representing a mortgage

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How we rate

Our scores weigh pricing transparency, product features, eligibility, and customer experience — alongside our commercial relationships with partners.

Read our rating methodology

Types of mortgages

Fixed-rate mortgages keep the same rate for the life of the loan, while adjustable-rate mortgages (ARMs) start lower and reset after an initial period. Government-backed FHA, VA, and USDA loans offer flexible qualification for eligible borrowers.

How to compare mortgage offers

Compare the APR, not just the interest rate — APR includes points and lender fees. Also compare closing costs, rate-lock periods, and whether the lender services its own loans.

Pros and cons

Buying with a mortgage lets you build equity over time and may offer tax advantages. But a home loan is a long-term commitment, and closing costs typically run 2–5% of the loan amount.

How to qualify

Lenders review your credit score, down payment, debt-to-income ratio, and employment history. Conventional loans often require a score of 620 or higher; FHA loans may accept scores as low as 580 with 3.5% down.

Do the math

Mortgage payment calculator

Home price ($)Down payment ($)Rate (%)Term (years)Monthly taxes ($)Monthly insurance ($)

Principal & interest

$1,769.79

360 payments

Est. monthly total

$2,269.79

Incl. taxes & insurance

Loan amount

$280,000

Frequently asked questions

Mortgage rates shown are provided by partners and change daily based on market conditions and your credit profile, down payment, loan type, and property location. Rates are not an offer of credit. Approval and final terms are determined by the lender.