What are today's mortgage and mortgage refinance interest rates?

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If you're in the market for a new home, or you're thinking about refinancing your current mortgage, you may have faced some challenges. With high mortgage rates and a limited inventory of homes to contend with, it can be difficult to find affordable options. But, doing so isn't impossible. That's especially true if you have a strong credit score and overall application.

Of course, if you're planning to buy a new home or considering refinancing your home, it's important to know what mortgage rates you can expect to see. We've compiled a list of today's average mortgage and refinance interest rates below.

Start here and compare the best mortgage rates you can qualify for today.

The following rates are current as of June 16, 2026. While these are averages based on national data, the actual mortgage loan and mortgage refinancing rates that you can qualify for may vary depending on your location, credit, loan type and other factors.

Even though interest rates are higher than they were a few years ago, both new homebuyers and current homeowners looking to refinance can secure a good rate today.

"Over the past two years, as the Fed has increased interest rates, borrowing has become more expensive," says Taylor Jessee, CFP, founder of Impact Financial. "For example, in 2020 you could lock in a mortgage rate between 2-3% easily. Nowadays mortgage rates are closer to 6-7%. If the Fed stops raising rates then I'd anticipate mortgage rates to also stop going up. That's good news for borrowers."

While the macro rate environment may be moving in your favor, there are also things you can do to improve your chances of qualifying for a great rate.

Perhaps most importantly, start by strengthening your credit profile.

"The best rates go to borrowers with credit scores in the mid- to high-700s or above," the Consumer Financial Protection Bureau's website states. "These borrowers typically also have the most choices available to them."

Pay your bills in full and on time each month, look for any errors on your credit report and avoid applying for other loans or credit cards too close to your mortgage or refinance application.

You should also shop around and compare different lenders. If you're refinancing, specifically, don't hesitate to look beyond your current mortgage lender. You may qualify for different rates and terms, which can make a big difference in what you pay over the lifetime of the loan.

Find the best mortgage refinance rat