Today's Mortgage Rates

Rates effective April 11, 2026 and subject to change without notice. FHA APR reflects mandatory mortgage insurance premium (MIP). VA APR reflects funding fee. Jumbo minimum varies by state — see conforming loan limits for your county. Payment shown is P&I only; taxes, insurance, and PMI (if applicable) are additional.

Rate lock costs may be reflected as a rate adjustment (slightly higher rate) rather than a separate fee, depending on the program. Float-down options may be available on select lock periods — ask your mortgage specialist.

• How often do mortgage rates update?
  Mortgage rates are re-priced every business day, typically in the morning, based on movements in mortgage-backed securities (MBS) markets. On days with significant economic data releases (CPI, jobs report, Fed statements), rates may reprice multiple times intraday. We update our published rates each business morning — but the rate you receive is locked at the time of your lock request, not when you start your application.
• Can I negotiate my mortgage interest rate?
  To a limited extent. Your rate is largely determined by your financial profile (credit score, LTV, DTI), loan type, and market conditions. However, you can influence your rate by: improving your credit score before applying, making a larger down payment, buying points to reduce the rate, or choosing a shorter loan term. Additionally, some borrowers with existing banking relationships (like Preferred Rewards members) receive discounts not available to the general public.
• What is a mortgage point and is it worth paying?
  One point equals 1% of your loan amount and typically reduces your interest rate by about 0.25%. On a $320,000 loan, one point costs $3,200. To determine if it's worth it, divide the point cost by your monthly savings: $3,200 ÷ ~$54/mo savings = 59 months (~5 years) to break even. If you plan to stay for more than 5 years, paying points makes mathematical sense. If you plan to move or refinance sooner, keep your cash and take the higher rate.
• Should I lock my rate now or float and wait for lower rates?
  Predicting the direction of mortgage rates is notoriously difficult — even professional economists get it wrong. If today's rate makes your purchase affordable and you're comfortable with the payment, locking now eliminates all rate-rise risk. "Floating" (not locking) is a speculative bet that rates will fall before your closing — they could just as easily rise. The conventional wisdom for most buyers: if the rate works for your budget, lock it.
• What's the difference between fixed, ARM, and FHA loan rates?
  Fixed-rate loans carry the same interest rate for the entire loan term — no surprises. ARM loans offer a lower initial rate that adjusts periodically after an initial fixed period (e.g., 5/1 ARM: fixed 5 years, adjusts annually after). FHA loans are government-insured products — their interest rates are similar to conventional loans but carry mandatory mortgage insurance premiums (MIP) that raise the effective cost, visible in the higher APR. VA loans (for eligible veterans) typically offer the lowest rates with no PMI.