Today’s Snapshot — National Mortgage Rate Trends

The figures below represent national average rates, refreshed daily for your awareness. Because every borrower is different, your actual rate may be higher or lower, though you might be in for a pleasant surprise! Reach out for your personalized rate consultation today.

(These are averages only—approval, loan program and property details determine your exact rate.)

Contact for a rate quote or consultation

At Johannsen Group, we go beyond the number. We’ll explain why you are quoted a given rate—and show you actionable levers you can pull: improve your credit, adjust your down-payment or LTV, explore different loan types, etc.—with the typical goals of ultimately reducing your monthly payment, cash-to-close burden, or possibly other factors that are critical for you (e.g., having no mortgage insurance, layering in down payment assistance, setting up your mortgage for a recast to reduce monthly payments following a windfall, preparing for and anticipating a future refinance, etc.).

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How Mortgage Rates Work

Mortgage rates can feel a little mysterious, but here’s the simple version: when you borrow money for a home, the “rate” is the cost of that loan, expressed as a percentage. Lower rates mean lower monthly payments and less interest paid over time—so even a small difference can add up to thousands of dollars.

Why Some Mortgage Rates Are Better Than Others

Not all rates are created equal. Lenders don’t just pull a number out of thin air—rates vary depending on the broader economy (like inflation and the Federal Reserve), but they also depend on you as the borrower. That’s why two people applying on the same day can see different rates.

On top of that, different banks and lenders can offer very different rates to the exact same borrower. Why? Each lender has its own cost structure and appetite for certain loan types, property types, or borrower profiles. One bank might be aggressive on investment properties while another favors first-time homebuyers. This is why having access to multiple lenders makes such a big difference.

Key Factors That Influence Your Mortgage Rate:

  • Credit Score – Higher scores usually earn better rates.

  • Down Payment – Putting more money down can lower your rate.

  • Loan Type & Term – A 15-year loan often has a lower rate than a 30-year loan.

  • Debt-to-Income Ratio – Lenders want to see that your income comfortably covers your debts.

  • Property Type & Purpose – Primary homes often qualify for lower rates than second homes or investment properties.

  • Lender Differences – Each bank or lender prices loans differently depending on their business model and market strategy.

Every situation is unique, which is why it’s worth seeing what options are available for you.

💬 If you’d like to understand what rate you might qualify for—or just want a no-obligation quote—reach out anytime. I’d be happy to run the numbers and help you see your best options.