Mortgage Rates
Current market data and analysis to help you make informed decisions
Data source: Rates are sourced from Freddie Mac's Primary Mortgage Market Survey (PMMS) and live market pricing, updated regularly.
Loan scenario: Rates shown assume a primary residence purchase, 30-year fixed conventional loan, 20% down payment, 740+ credit score, and a loan amount within conforming limits. FHA rates assume 3.5% down; VA rates assume 0% down with full entitlement. Actual rates vary based on credit profile, loan-to-value, property type, and lender margin.
What actually drives your rate
Here's what I'd tell you if you were my little brother: your interest rate isn't just a number someone picks. It's built from several factors that lenders look at when they assess risk. The lower the risk, the better the rate.
Credit score
The biggest factor. Higher scores get lower rates. A 740 or above generally gets you the best pricing.
Loan-to-value (LTV)
How much you're borrowing compared to the home's value. More equity means less risk, which means a better rate.
Debt-to-income (DTI)
Your monthly debts divided by your monthly income. Lower DTI shows you can handle the payment comfortably.
Occupancy
Primary residences get the best rates. Second homes and investment properties cost more.
Property type
Single-family homes are simplest. Condos, multi-unit properties, and manufactured homes may add to your rate.
Loan amount and lock period
Very small or very large loans can cost more. Longer rate locks (45 days or more) may also add a small premium.
Rate vs. APR: what's the difference?
Your interest rate is what you pay on the money you borrow. Your APR (annual percentage rate) includes the interest rate plus certain closing costs and fees, expressed as a yearly rate. APR is always equal to or higher than the rate.
Here's why it matters: two lenders could offer the same rate, but one charges $3,000 in fees and the other charges $6,000. The APR tells the real story. The lower APR is the cheaper loan.
When you compare offers from me, I'll show you both numbers and explain exactly what's included in the APR. No tricks, no hidden fees.
Discount points explained
A discount point is optional prepaid interest. You pay a fee at closing to buy down your interest rate. One point typically costs 1% of the loan amount and lowers your rate by about 0.25%, though the exact tradeoff varies by lender and market.
Here's how I'd think about it: if you plan to stay in the home for a long time, paying points can save you money over the life of the loan. If you might move or refinance in a few years, it might not be worth the upfront cost.
I'll run the math for you both ways and show you the break-even point. Then you decide what makes sense for your situation.
Rates as of September 30, 2026. Rates change daily based on market conditions and are not a commitment to lend. Actual rates depend on your credit profile, loan-to-value ratio, property type, and other factors. Contact Steven for a personalized quote based on your specific situation.
Want a real rate quote?
The rates above are market averages. Your actual rate depends on your specific situation. Call or text me for a personalized quote in minutes.
Call (949) 391-7909