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Purchasing a home or refinancing your current one can be both a time-consuming and stressful process. But borrowers can reduce their concerns by taking an informed, strategic approach. The former element is particularly important now with multiple items driving the mortgage interest rate landscape. While mortgage rates declined considerably in 2025, some of that decline has been negated in recent weeks thanks to a combination of higher inflation, a paused Federal funds rate and heightened geopolitical tensions and overseas conflicts.
At the same time, mortgage rates are still considerably lower than the decade-highs borrowers were being offered just a few years ago. And by shopping around for rates and lenders, thus establishing an accurate baseline to compare against, borrowers can better decide on the value of taking action now or delaying their plans for the foreseeable future. To best determine their next steps, it helps to know where mortgage interest rates stand right now, as of April 15, 2026.
See how low your current mortgage rate offers are here.
What are today’s mortgage interest rates?
The average mortgage interest rate on a 30-year mortgage is 6.12% as of April 15, 2026, according to Zillow. That’s what the rate has largely been in recent days, though it could change later this month depending on what happens at the next Federal Reserve meeting (scheduled for April 28 and April 29). The average rate on a 15-year purchase term is now 5.62%.
Still, these are just averages from a single source, so if they’re close to what you need to support a purchase, it may be worth shopping around to see what competitors are offering. Just make sure to check your credit report before applying, as the best rates and terms will be reserved for those borrowers with the highest credit scores. If your credit needs improving, consider focusing there before applying.
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What are today’s mortgage refinance rates?
The average mortgage refinance rate on a 30-year mortgage is 6.68% as of April 15, 2026, according to Zillow. The median refi rate on a 15-year term is now 5.79%. While the 30-year option may not be advantageous for homeowners who purchased a home in the ultra-low rate climate of the early 2020s, the 15-year alternative may be worth exploring. Not only will this loan term save borrowers in interest costs, but it will also significantly reduce their payoff timeline.
That said, a shorter term often comes with higher monthly payments thanks to the condensed timeframe, so it’s important to calculate the costs here before proceeding (and don’t forget about refinancing closing costs, which could be significant depending on the size of the loan).
The bottom line
The average mortgage interest rate on a 30-year term is 6.12% as of April 15, 2026, and it is 5.62% for a 15-year alternative. The median refinance rate on a 30-year mortgage, meanwhile, is now 6.68%, and it’s 5.79% for a 15-year loan. While these rates aren’t ideal, they’re about in line with historic averages, and they’re still improved from what borrowers were often offered in April 2025 and April 2024. Don’t dismiss these rates completely, then, without taking the time to crunch the numbers. By having this information readily available, you can continue the homebuying or refinancing process with knowledge and confidence in your next steps.
