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Borrowers hoping for mortgage interest rates to decline haven’t had much luck lately. Inflation surged in the latest reading from the Bureau of Labor Statistics, further pushing out the likelihood of a Federal Reserve interest rate cut. The central bank, meanwhile, after pausing cuts in its first two meetings of the year, is expected to maintain that stance when it meets again this month. And geopolitical tensions and overseas conflicts have caused volatility in the stock market, both of which will need to be reduced to support rate reductions this year.
At the same time, mortgage interest rates did decline materially in 2025, and while some of that improvement has been negated in recent weeks, rates here are still a bit lower than they were at similar points in the spring of 2025 and 2024. And that marginal improvement could be the difference between locking in one of today’s current mortgage rates or delaying a purchase or refinancing action, perhaps indefinitely. To better determine your next steps, it helps to know where mortgage interest rates stand currently, as of April 14, 2026.
See how low your current mortgage interest rate offers are now.
What are today’s mortgage interest rates?
The average mortgage interest rate on a 30-year mortgage is 6.12% as of April 14, 2026, according to Zillow. The average rate on a 15-year mortgage is 5.62%. If these represent rates close to what you can afford but are a bit higher, don’t dismiss taking action anyway. With these rates simply averages from one source, you may be able to find lower ones by taking the time to shop around online now.
Shopping around for a mortgage has resulted in rates up to one percentage point lower than average, especially if you have a good credit score and clean credit history. And with online marketplaces making it easier than ever to compare rates, lendersterms and conditions all in one location, it’s simple to complete this critical step of the homebuying process right now.
Shop for mortgage rates and lenders here.
What are today’s mortgage refinance rates?
The average mortgage interest rate on a 30-year refinance loan is 6.48% as of April 14, 2026, according to Zillow. The median refi rate on a 15-year term is 5.73%. These, too, are just averages, so it’s also worth exploring refinancing options from additional sources to see if their offers are lower and, thus, can justify refinancing.
Just be sure to account for mortgage refinancing closing costswhich can cost a few percentage points of the new loan, to ensure that the savings you secure each month with a new rate outweigh the temporary costs of taking action now. And don’t forget about 20-year mortgage refinance terms, which may offer an ideal combination of a lower rate and shorter loan term, for select owners.
The bottom line
The average mortgage rate on a 30-year mortgage purchase is 6.12% as of April 14, 2026, and it is 5.62% for a 15-year option. The median rate on a 30-year refinance, meanwhile, is now 6.48%, and its 5.73% for a 15-year alternative. While these aren’t the rates borrowers were hoping for at this point in 2026, nor are they as low as they were earlier in the year, they still may be affordable for many. Crunch the numbers, then, to determine if these rates fit your budget currently. And don’t forget to explore alternative term lengths and the addition of mortgage points, too. You may be surprised at the numbers you ultimately calculate.