Question 1

What is today's 30-year fixed mortgage rate?

Accepted Answer

As of March 2026, the 30-year fixed mortgage rate ranges from 6.5% to 7.2% for borrowers with good credit (700+). The best rates are available to borrowers with excellent credit scores (750+) and at least 20% down payment.

Question 2

What is the difference between a fixed and adjustable-rate mortgage?

Accepted Answer

A fixed-rate mortgage locks your interest rate for the entire loan term (15 or 30 years), giving you predictable monthly payments. An adjustable-rate mortgage (ARM) like a 5/1 ARM has a fixed rate for an initial period (5 years), then adjusts annually based on a market benchmark. ARMs typically start with a lower rate but carry more risk after the fixed period ends.

Question 3

What credit score do I need for the best mortgage rate?

Accepted Answer

To qualify for the best mortgage rates shown, you generally need a credit score of 750 or higher (excellent credit). Scores of 700–749 (good credit) typically add 0.1%–0.5% to your rate. FHA loans are available to borrowers with scores as low as 580, though at higher rates. VA loans often offer competitive rates regardless of credit tier for eligible veterans.

Question 4

What is the difference between FHA and conventional loans?

Accepted Answer

FHA loans are government-backed and allow down payments as low as 3.5% with a 580+ credit score, making them popular for first-time buyers. Conventional loans are not government-backed, typically require stronger credit (620+) and a higher down payment (3%–20%), but avoid FHA's mandatory mortgage insurance premium (MIP) if you put 20% down.

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