Where to find today's mortgage rates

Mortgage rates change daily, sometimes multiple times per day, but no single source publishes a definitive "today's rate" that applies everywhere. Instead, rates vary by lender, loan type, credit score, down payment size, and location. To see what rates moved today, you need to check the sources that track them in real time.

The most widely used sources are Freddie Mac (which publishes Primary Mortgage Market Survey data weekly, on Thursdays), Mortgage News Daily (which updates multiple times daily), Bankrate (which collects rates from lenders throughout the day), and individual lender websites. Each updates on its own schedule, so the "rate today" depends on which source you check and when you check it.

If you want to know whether rates dropped from yesterday, compare the same source at the same time of day. Comparing Freddie Mac's Thursday release to a Wednesday Bankrate snapshot will not tell you whether rates actually fell — it will tell you that you compared two different things.

Key Takeaways

  • Mortgage rates change throughout the day and vary by lender, so there is no single "today's rate" — you must check the source that matters to your situation.
  • Freddie Mac publishes official survey data once per week on Thursdays, while Bankrate and Mortgage News Daily update multiple times daily.
  • To know if rates dropped, compare the same source at the same time on consecutive days, not different sources or different times of day.
  • Your personal rate depends on your credit score, down payment, loan type, and lender, so a rate drop in national data may not apply to your offer.
  • Rate movements of 0.125% (one-eighth of a point) or less are normal daily noise and do not usually change whether a refinance or purchase makes sense.

Why rates move every day

Mortgage rates follow the yield on the 10-year U.S. Treasury bond, which moves based on inflation data, Federal Reserve decisions, employment reports, and investor demand. When the Treasury yield rises, mortgage rates typically rise. When it falls, mortgage rates typically fall. This happens continuously during market hours.

A single economic report — a jobs number, a consumer price report, or a Fed statement — can shift rates by 0.25% or more in a single day. But most days see smaller moves. Rates can also move in opposite directions from what you might expect: sometimes a strong jobs report pushes rates up (because it suggests the economy is strong and inflation may rise), and sometimes a weak report pushes them down (because it suggests the Fed may cut rates).

How to track rate changes over time

If you are watching rates to decide whether to refinance or lock in an offer, tracking them over a week or two is more useful than checking daily. Freddie Mac's Primary Mortgage Market Survey is the standard historical record — it goes back decades and covers 30-year fixed, 15-year fixed, and 5/1 adjustable-rate mortgages. You can see the exact rate for any Thursday going back to 1971.

For more recent data, Mortgage News Daily publishes a historical chart showing rates for the past month, three months, and one year. This lets you see whether today's rate is near the high or low end of recent trading. A rate that dropped 0.5% in the past month is more significant than a rate that dropped 0.125% today.

Many lenders also publish their own rate sheets with timestamps, so you can see what they offered at 8 a.m. versus 2 p.m. If you are shopping with multiple lenders, ask them to quote you at the same time of day so the numbers are comparable.

What a rate drop means for your situation

A national rate drop does not automatically mean your rate dropped. Your lender may have raised their margin (the amount they add on top of the market rate) even as the market rate fell. Or your credit score, down payment, or loan type may have changed. The only way to know your actual rate is to get a new quote from your lender or a different lender.

If you locked in a rate with a lender, a rate drop after your lock does not affect your offer — you keep the rate you locked. If you have not locked yet, a rate drop may give you a better offer if you apply before rates move again. But rate locks typically expire after 30 to 60 days, so a drop today does not help you if you are not ready to close for another six months.

When a small rate drop does not matter

Mortgage rates move in increments of 0.125% (one-eighth of a point). A drop from 6.875% to 6.75% is a meaningful move. A drop from 6.875% to 6.8125% is within normal daily variation and usually does not change the math on whether a refinance makes sense.

To know whether a rate drop is worth acting on, calculate the break-even point: how many months until the savings from a lower rate exceed the cost of refinancing (closing costs, appraisal, title work, and lender fees). If the break-even is 36 months and you plan to stay in the home for 40 months, a 0.125% drop might not be enough to justify refinancing. A 0.5% drop probably is.

How to set up rate alerts

Rather than checking rates manually every day, you can set up alerts from Bankrate, Mortgage News Daily, or your lender. Bankrate lets you enter your loan type and state, and it will email you when rates move by a threshold you set (usually 0.25% or more). Mortgage News Daily has a similar feature. Your lender may also offer alerts if you have a pre-approval or are actively shopping.

Alerts work best if you set them for a meaningful threshold — 0.25% or 0.5% — rather than every tiny move. Otherwise you will receive dozens of emails per week and stop reading them.

The difference between published rates and your rate

The rates you see published by Freddie Mac, Bankrate, or Mortgage News Daily are averages or samples, not the rate you will receive. They typically assume a borrower with a 680 to 740 credit score, 20% down payment, and a conventional 30-year fixed loan. If your credit score is lower, your down payment is smaller, or you are taking out a jumbo loan, your rate will be higher. If your credit score is higher or your down payment is larger, your rate may be lower.

Lenders also price rates differently based on how busy they are. A lender with a full pipeline may offer worse rates than one with fewer applications. Shopping with multiple lenders is the only way to know what rate you can actually get.

Frequently Asked Questions

How often do mortgage rates change?

Rates change throughout each trading day as the 10-year Treasury yield moves. Most lenders update their rate sheets multiple times per day. Freddie Mac publishes official survey data once per week on Thursdays. The size of daily moves varies — some days rates move 0.125% or less, other days they move 0.5% or more.

Should I lock my rate if it drops today?

If you are ready to close within 30 to 60 days, locking a lower rate makes sense. If you are not ready to close for several months, locking today does not help — your lock will expire before you need it. Ask your lender how long your rate lock lasts and whether you can extend it if you are not ready to close by then.

Can I refinance if rates dropped after I locked in?

Your existing lock is not affected by rate changes. If you want a lower rate, you would need to apply for a new refinance, which means a new application, appraisal, and closing costs. Whether this makes sense depends on how much rates dropped and how long you plan to stay in the home.

What if rates drop right after I close?

Once you close, your rate is fixed for the life of the loan (on a fixed-rate mortgage). A rate drop after closing does not affect your loan. You could refinance later if rates drop significantly, but you would pay closing costs again, so the drop needs to be large enough to justify the cost.

Do mortgage rates drop on weekends?

Mortgage rates are tied to the 10-year Treasury yield, which only trades during market hours (9:30 a.m. to 4 p.m. Eastern, Monday through Friday). On weekends and holidays, there is no new rate data. Lenders may hold their rates steady over the weekend or adjust them Monday morning based on Friday's close.