Mortgage Rates Decline Modestly | Today, April 20, 2026

Today’s mortgage rates

Mortgage rates fell for a sixth straight day on April 20, putting some lenders within striking distance of 6% as the bond market kept buying after the 10-year Treasury yield dropped to 4.256%. That decline in yields gave mortgage pricing more room to ease, even with investors still crowding into gold and trying to sort out whether this move has real staying power. Signs are pointing to a little more relief for borrowers if bond markets stay calm.

Although rates have elevated from recent lows, see if refinancing makes sense or tapping home equity is prudent. For home buyers, explore expert advice for 2026 and check if you qualify for financial assistance programs or more flexible loan options.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached 6.325%.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to 5.729%.

The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged 5.626%.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

What experts are expecting

Ralph DiBugnara, president at Home Qualified

“I expect rates to stay in a relatively similar range as where they ended in March, likely hovering in the low-to-mid 6% range. Current global uncertainty and inflation data will keep volatility in play. Also any rate cuts at all by the Fed may be in jeopardy now so that will keep markets frozen some. Unless we get a clear cooling signal from the Fed, don’t expect a drop. The 30-year fixed should average around 6.25% with the 15 year fixed at 5.875%“

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published. The data mostly compares to roughly the same time the business day before, so much of the movement will often have happened in the previous session.

• The yield on 10-year Treasury notes decreased to 4.256% from 4.335% (Good for mortgage rates). Mortgage rates often follow these Treasury bond yields.
• Major stock indexes were mixed this morning. (Mixed for mortgage rates.) When investors sell shares and move into bonds, bond purchases can push prices up and yields down, potentially easing mortgage rates.
• Oil prices decreased to $88.38 from $112.61 a barrel. (Good for mortgage rates.*)
• Gold prices increased to $4,836.5 from $4,676.10 an ounce. (Good for mortgage rates.*)
• CNN Business Fear & Greed Index increased to 68.1 from 22.6 out of 100. (Bad for mortgage rates.) “Greed” suggests investors are seeking safety, supporting bond prices.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.

So, use markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caveat, mortgage rates today might nudge upward or barely budge. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

Mortgage rates opened the week on a softer note after falling for six straight days, and some borrowers are now eyeing the possibility of rates dipping below 6%. The 10-year Treasury yield, a major driver of mortgage pricing, dropped to 4.256% from 4.335%. Freddie Mac’s weekly survey showed the average 30-year fixed rate at 6.3% on April 16, down 0.07 percentage points from the prior week.

Five reports are due this week and one Fed official speaks. Stocks were mixed to start things off, with the Dow, S&P 500, and Nasdaq all sitting flat on the day. Oil fell to $88.38, which should help on the inflation front, while gold climbed to $4836.5, a sign some investors are still looking for safety even with the Fear and Greed Index at 68.1, firmly in greed territory.

Tuesday kicks off the economic calendar with retail sales at 8:30am ET, followed by Federal Reserve Governor Christopher Waller speaking at 2:30pm ET. Retail sales can move mortgage rates if spending comes in hot and raises fresh inflation concerns. Waller’s remarks matter, too, because markets tend to read Fed commentary for clues on where the central bank stands in its ongoing fight against inflation.

Wednesday is lighter, but still worth watching. The Mortgage Bankers Association releases mortgage application data at 7am ET, which gives a real-time read on borrower demand as rates drift lower. Then comes the EIA petroleum status report at 10:30am ET. Energy prices do not drive mortgage rates directly, but they feed into inflation expectations, and that can make waves in the bond market.

Thursday is the busiest day of the week. Initial jobless claims come out at 8:30am ET, the EIA natural gas report lands at 10:30am ET, and the Fed balance sheet update follows at 4:30pm ET. For mortgage shoppers, jobless claims will probably be the main event. A softer labor reading would support the recent downward trajectory in rates, while a stronger one could get bond yields ticking back up.

Friday wraps things up with consumer sentiment at 10am ET. If confidence holds up alongside solid spending data, rates could lose some of this week’s momentum. If the data cools, the recent dip in mortgage rates could have more room to run down the road. Up next, borrowers get a full slate of consumer and labor data to test whether this latest rate drop has staying power.

Recent trends

Freddie Mac’s April 20 report put the weekly 30-year fixed mortgage rate average at 6.3%. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for the next year.

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its forecast on March 10 and the MBA updated theirs on March 23.

Of course, given so many unknowables, these forecasts might be even more speculative than usual. And their past record for accuracy — due to the volatile nature of interest rates — hasn’t been wildly impressive.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.