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A new month offers a fresh start for borrowers and it will be particularly welcome for those looking for a mortgage loan or an opportunity to refinance their current home. Mortgage interest rates in March increased by around a half a percentage point – even with the Federal Reserve keeping interest rates paused – thanks to a series of volatile economic reports, overseas conflicts and geopolitical tensions. So the sub-6% rates many were seeing listed online in February were mostly gone by the end of March.
That said, rates here are still marginally improved from where they sat at similar points in the spring of 2024 and 2024. And by shopping around for an affordable lender and, potentially, by adding mortgage points to whatever rate they’re ultimately offered, borrowers may still be able to find a rate and term that fits their budget now. Being aggressive, however, will be critical and that may even mean locking in a cost-effective mortgage rate when found to protect against market unknowns ahead. To better decide on their next steps, it helps to know where mortgage interest rates sit right now, on the first day of April 2026. Below, we’ll break down everything to know.
See 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 mortgage is 6.25% as of April 1, 2026, according to Zillow, slightly below where it has sat in recent days. The average rate on a 15-year mortgage is now 5.75%, also marginally improved from where it was in late March.
With these being average rates from a single source, however, it makes sense to research and comparison shop to see what other, more affordable rates you may qualify for, too. Just remember that the best rates and terms will be reserved for borrowers with the best credit scores and cleanest credit profiles, so if you don’t have both, consider working on those first before formally applying for a loan.
Learn more about your mortgage options online today.
What are today’s mortgage refinance rates?
The average mortgage refinance rate on a 30-year mortgage is 6.78% as of April 1, 2026, according to Zillow. The median refi rate on a 15-year alternative is 5.75%. Before refinancing, however, consider the costs associated with a closing. And, if you’re not planning on remaining in the home long enough to recuperate those costs, a refinance may not be worth pursuing. In other words, even if today’s imperfect rates fit your budget, it’s critical that you also account for the closing costs to truly ensure the affordability of taking action now.
The bottom line
The average mortgage rate on a 30-year mortgage is 6.25% and 5.75% for a 15-year option, as of April 1, 2026. The median refinance rate on a 30-year mortgage is currently 6.78%, and it is 5.75% for a 15-year alternative. While these rates aren’t as affordable as they were six weeks ago, approximately, they may still be right for your budget and goals. Consider speaking with a lender directly, too, as they can offer insight and outline affordable rate options and solutions that aren’t always clearly listed on their websites.