How to Use MortgageRateWatch
Follow these steps to compare mortgage rates and find the best loan for your home purchase or refinance.
Browse Today's Rates
Visit the homepage to see current rates for 30-year, 15-year, ARM, FHA, and VA loans side by side.
Compare Lenders
Review our lender comparison table to see rates from top banks and mortgage companies.
Use the Calculator
Enter your loan details to estimate monthly payments, total interest, and compare loan scenarios.
Check Your State
View rates specific to your state, as local market conditions can affect available rates.
Frequently Asked Questions
What is MortgageRateWatch?
MortgageRateWatch is a free rate comparison platform that displays current mortgage rates from leading U.S. lenders, updated daily using Federal Reserve data.
Are these rates accurate?
Rates are sourced from Federal Reserve Economic Data (FRED) and updated daily. Individual lender rates vary based on credit score, down payment, and property type. Always confirm rates directly with lenders.
What is the difference between APR and interest rate?
The interest rate is the cost of borrowing the principal loan amount. APR (Annual Percentage Rate) includes the interest rate plus fees, giving a more complete picture of total loan cost.
What credit score do I need for a good mortgage rate?
Generally, a credit score of 740 or above qualifies for the best rates. Scores below 620 may have limited options. A higher score means lower risk for lenders and better rates for you.
What is a 30-year vs 15-year mortgage?
A 30-year mortgage has lower monthly payments but higher total interest cost. A 15-year mortgage has higher monthly payments but you build equity faster and pay significantly less interest overall.
What is an ARM loan?
An Adjustable-Rate Mortgage (ARM) starts with a fixed rate for an initial period (e.g., 5 years), then adjusts periodically based on market conditions. ARMs can be beneficial if you plan to sell or refinance before the adjustment period.
How do I use the mortgage calculator?
Enter your desired loan amount, interest rate, loan term, and down payment. The calculator will show your estimated monthly payment, total interest paid, and an amortization schedule.
Can I get pre-approved through MortgageRateWatch?
No. MortgageRateWatch is a rate comparison and information service. To get pre-approved, contact lenders directly using the rate information from our comparison tables.
What are points on a mortgage?
Points (or discount points) are upfront fees paid to the lender to lower your interest rate. One point equals 1% of the loan amount. Paying points makes sense if you plan to stay in the home long-term.
How often are rates updated?
Our rate data is updated daily on business days. Rates can change multiple times per day based on economic news, Federal Reserve decisions, and bond market movements.