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Shopping around for mortgage interest rates has been shown to result in a mortgage interest rate around half a percentage point below average. And that makes sense. Mortgage lenders will respond to market conditions in different ways, sometimes preemptively (as when a Federal Reserve interest rate cut is looming) and sometimes in anticipation of poor economic conditions or developments. Their reactions to today’s ongoing geopolitical tensions and overseas conflicts are also unlikely to be identical. In this climate, different interpretations of market conditions will lead to different rates that borrowers are offered, so it makes sense to shop around diligently right now to see which lenders are offering the best rates and terms.
To accurately gauge your offers, however, it’s important to first establish a baseline of where mortgage interest rates currently stand. After comfortably declining in the opening months of the year (at one point sitting in the 5% range), they’ve since ticked up in response to market volatility. Still, rates here change daily, and if geopolitical tensions wane and overseas conflicts move toward more permanent resolutions, they could become more affordable again. So, what do mortgage rates look like today, as of April 9, 2026? That’s what we’ll detail below.
Start by seeing how low your current mortgage rate options are here.
What are today’s mortgage interest rates?
The average mortgage interest rate on a 30-year term is 6.12% as of April 9, 2026, according to Zillow. The median interest rate on a 15-year term is now 5.62%. These are just averages sourced by one source, however, emphasizing the importance of shopping around to compare rates, lenders, terms and more. Some buyers may also find it helpful to explore their 20-year mortgage loan options, which can potentially offer a combination of a lower interest rate and an expedited payoff timeline. That said, a condensed loan term could also mean bigger monthly payments, so be sure to calculate your costs in advance to best determine which term makes the most sense for your budget and goals.
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What are today’s mortgage refinance rates?
The average mortgage refinance rate for a 30-year loan is 6.66% as of April 9, 2026, according to Zillow. The average refinance rate for a 15-year term is now 5.68%. While these rates may not represent substantial savings for those owners with rates comfortably under 5%, they may still be advantageous for those owners who purchased a home with rates of 7% or higher, as many did in the high-rate climate of 2023 and 2024. Don’t dismiss these rates, then, without first taking the time to calculate your potential savings. And don’t forget about closing costs, either, which can negate some of the savings you’d otherwise receive with a new interest rate. It’s also important that you understand your timeline before getting started, as it may not be beneficial to refinance (and pay for refinancing closing costs) if you’re planning to sell the home before you’ve recuperated those expenses.
The bottom line
The average mortgage interest rate on a 30-year mortgage is 6.12% as of April 9, 2026 and its 5.62% for a 15-year option. The median refinance rate on a 30-year term is 6.66% while it’s 5.68% for a 15-year term. With these being averages from a single source, however, it’s important to shop around to see what else you may be able to find. Don’t forget about mortgage interest points, too, which may be able to lower your rate low enough to support purchase or refinancing activity now.