Today's mortgage rates
Example rates¹ based on a home in 60629 (Chicago, IL)
6.375%Interest rate 6.58%APR
These example purchase results are based on a $350,000 loan using a 30-year fixed rate conventional loan for ZIP code 60629 with 2.111 discount points.
Rates as of 10:12 AM ET, July 24th, 2026.
Find answers
Mortgage rates are based on a combination of your personal financial situation and broader market conditions.
Personal factors include your credit score, loan amount, down payment amount, and the length of the loan. Economic factors also play a role, such as the Federal Reserve rate, the prime rate, the overall economy, and the state of the housing market.
Note: We’re showing our current mortgage rates for homes in Chicago, IL for demonstration purposes. Your actual mortgage rate can differ from the rates shown.
Yes, your credit score plays a significant role in the interest rates a bank offers you. For example, if you have a higher credit score, you’re more likely to qualify for a lower interest rate.
There are ways to help improve credit before applying for a mortgage, including making on-time payments, avoiding new debt and paying off past-due accounts
Interest rates and annual percentage rates (APR) are two different ways of expressing the fees a borrower takes on when taking out a mortgage:
- Interest rate is the cost of borrowing, shown as a percentage, on the principal amount of the mortgage. This is the rate the borrower's monthly payment is based on.
- APR includes both the interest rate as well as any other costs associated with the loan, such as discount points or lender origination fees. Because APR shows the total cost of a loan, it is usually higher than interest rates. APR can be useful when comparing loans from different lenders because it shows a fuller picture.
Before signing a mortgage, the lender must disclose the loan's APR and interest rate to help the borrower understand what they'll owe.
Mortgage rates can change daily depending on what’s happening in the economy and the housing market. Mortgage rates don’t follow a set schedule. We’ll always show you when the rates were last updated, so you’ll have the most current information.
Your interest rate determines how much interest is added to your loan balance. Because mortgages usually last many years, even small changes in the rate can make a big difference in monthly payments and the total amount paid over time.
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We’ll guide you every step of the way. Rates may vary depending on area.