Mortgage Rates Today — FHA, Conventional, VA, USDA, Non-QM & DSCR
Here’s your answer. As of the first week of July 2026, the 30-year fixed conventional rate is averaging 6.43% and the 15-year fixed is averaging 5.79%, per Freddie Mac’s weekly survey. VA rates typically run lower, in the mid 5% range for eligible veterans, while FHA often beats conventional for buyers with a 580 to 660 credit score. Jumbo, Non-QM bank statement, asset-based, DSCR, and no-income verification programs price higher, often mid 6% to upper 8%. Your exact rate depends on credit score, program, down payment, and loan amount, and it moves daily, so the fastest way to get a real number is a five minute call.
30-Year Fixed Average
Freddie Mac, Week of 7/2/26
15-Year Fixed Average
Freddie Mac, Week of 7/2/26
Loan Programs Compared
FHA, VA, USDA, Non-QM & More
Years of Rate History
Reviewed Below
Your Answer Right Here
What Determines Mortgage Rates, In Plain Terms
Mortgage rates aren’t picked out of thin air, and no single lender sets them alone. Your rate is built from two layers. The first is the market rate, which tracks the bond market, mainly the 10-year Treasury yield, and reacts to inflation data, Federal Reserve policy, and investor demand for mortgage-backed securities. That layer moves daily and is the same starting point for every lender. The second layer is what underwriting adds or subtracts for your specific file, credit score, down payment, loan program, property type, and loan size all push your rate up or down from that baseline. Two people applying the same day for the same amount can land on different rates simply because their credit and program differ.
Credit score is usually the biggest lever a borrower controls. A 760+ score typically earns the best pricing on a conventional loan. Drop into the 620 to 659 range and the rate usually climbs, sometimes by half a point or more, since the loan carries more risk. That’s why FHA exists as a separate track, insured by HUD and built to accept scores as low as 500 to 580 without the same steep penalty conventional pricing would apply. Down payment matters too, a larger down payment lowers your loan-to-value ratio and typically earns a better rate, especially past 20% down where PMI drops off conventional loans entirely. Loan program is the third factor: government-backed loans price differently than conventional, and Non-QM programs like bank statement, asset-based, DSCR, and no-income verification loans price highest since they fall outside the standard Fannie Mae and Freddie Mac box.
Program Comparison
Mortgage Rates by Loan Program, July 2026
Every program below is available through Mortgage-World.com in New Jersey, Connecticut, and Florida. Ranges shown shift daily with the market; your exact rate depends on credit score, down payment, and loan amount.
Rate Ranges by Program Type
| Program | Typical Rate Range | Min Credit Score | Min Down Payment |
|---|---|---|---|
| Conventional (Conforming) | 6.0% – 6.9% | 620 | 3%-5% |
| FHA | 5.8% – 6.7% | 500-580 | 3.5%-10% |
| VA | 5.5% – 6.2% | 500 | 0% |
| USDA | 5.7% – 6.4% | 550 typical | 0% |
| Jumbo | 6.2% – 6.9% | 600-700 | 10%-20% |
| Non-QM Bank Statement | 7.0% – 8.5% | 600 | 10%-20% |
| DSCR (Investor, No Income) | 7.0% – 9.0% | 600 | 15%-25% |
| No-Income Verification (Primary) | 7.5% – 9.5% | 640 | 15%-25% |
Ranges reflect general market positioning as of July 2026, not a quote or commitment to lend. Actual pricing depends on your credit, income, and loan details. Call 888.958.5382 for today’s live rate.
Low Credit Score vs. High Credit Score Options
| Credit Score Tier | Best-Fit Programs | What Changes |
|---|---|---|
| 760+ | Conventional, Jumbo, VA | Best available pricing tier, widest lender selection |
| 700-759 | Conventional, FHA, VA, USDA | Strong pricing, minimal rate add-ons |
| 660-699 | Conventional, FHA, VA, USDA | Rate add-ons begin on conventional loans |
| 620-659 | FHA, VA, Conventional (higher rate) | FHA usually prices better than conventional here |
| 580-619 | FHA (3.5% down), Non-QM | Conventional typically no longer available |
| 500-579 | FHA (10% down, compensating factors) | Requires reserves, low debt, or stable job history |
Wherever your score falls, we can usually give you a realistic mortgage rate range in one phone call.
Why This Matters
Why Your Rate Shouldn’t Be a Guess
A quoted rate only means something if it’s tied to your actual file. Many buyers see an advertised “as low as” rate assuming a 780 score and 25% down, none of which may describe them, then their real quote comes in a full point higher. We pull your credit and ask about your down payment and property type before quoting a rate that actually applies to you. Per the CFPB’s guidance on interest rates, comparing estimates from more than one lender is one of the most effective ways to lower your true cost, since rate and fees vary by lender.
It also helps to know the difference between rate and APR. The interest rate calculates your monthly principal and interest. APR wraps in the rate plus lender fees, discount points, and certain closing costs spread over the loan’s life, which is why APR usually runs a bit higher. Comparing APR side by side is often the more honest way to see which offer truly costs less, especially when one lender quotes a lower rate but loads in more fees to get there.
Mortgage Rates Over the Last 30 Years
Context helps once you compare today’s mid-6% rates to what your parents paid. Freddie Mac has tracked the 30-year fixed rate weekly since 1971, and the swings across five decades are bigger than most buyers assume. The 1990s opened near 10% and closed around 8%, as the Fed reined in inflation left over from the prior decade. The 2000s carried that decline further into the 5% to 6% range for most years, before the 2008 financial crisis pushed rates lower still. The 2010s were the calmest stretch on record, spending most of the decade between 3.5% and 4.9%. Then came the outlier: the 30-year rate bottomed at a record 2.65% in January 2021, before the fastest rate increase in modern history pushed it back above 7.7% by October 2023. Since then, rates have settled into the mid-6% range where they sit today.
| Period | Approx. 30-Year Rate Range | What Was Driving It |
|---|---|---|
| 1990s | 6.9% – 10.3% | Inflation cooling from the 1980s, dot-com era growth |
| 2000s | 5.0% – 8.1% | Early-decade housing boom, 2008 financial crisis response |
| 2010s | 3.3% – 4.9% | Post-recession Fed policy, quantitative easing |
| 2020-2021 | 2.65% – 3.1% | Record lows, pandemic-era Fed rate cuts |
| 2022-2023 | 5.0% – 7.79% | Fastest Fed rate hikes in decades, post-pandemic inflation |
| 2024-2026 | 6.1% – 6.9% | Rates stabilizing in the mid-6% range |
Sourced from Freddie Mac’s PMMS data. Past rates don’t predict future ones, but today’s mid-6% range sits well below the 7.7% long-run average since 1971, and far below the 18.63% peak in October 1981.
Zoom out and a pattern shows up: rates move in cycles tied to inflation and Fed policy, not a straight line. Buyers who bought in the early 1980s at 16% or 18% eventually refinanced into single digits within a few years. Buyers who locked near 7.79% in 2023 have already seen rates ease into the mid-6% range. Our advice isn’t “wait for a perfect rate,” since no one can time the bond market, it’s “get into a program you can afford today,” since a rate you lock this year isn’t necessarily what you’ll pay for the next 30 years.
Full Picture
The Four Things That Move Your Mortgage Rate
Mortgage rates aren’t random, these four factors explain almost every difference between one borrower’s rate and another’s.
- 760+ earns the best mortgage rate tier
- Each tier below 760 usually raises your rate
- FHA mortgage rates often beat conventional below 660
- VA has no VA-set credit floor
- Government-backed mortgage rates price differently than conventional
- Non-QM and DSCR rates price highest
- Jumbo has its own mortgage rate tier
- Fixed vs. adjustable changes the rate structure
- Larger down payments lower your LTV and your rate
- 20% down removes PMI on conventional loans
- Non-QM mortgage rates need larger down payments
- VA and USDA can reach 0% down
- Your interest rate calculates the monthly payment
- APR includes the rate, points, and fees
- APR compares mortgage rates more honestly
- Points can buy your rate down
How It Works
Three Steps to Your Real Mortgage Rate
Credit score, down payment, loan program, purchase or refinance.
Live rates across our lender network for your exact program, not an “as low as” ad number.
A mortgage rate and payment tied to your actual file, with the option to lock when ready.
Mortgage rates change daily, so a number published Monday can be stale by Wednesday. We’d rather give you a live rate by phone than have you rely on something that was accurate when written but isn’t anymore. Whether you’re eyeing conventional, FHA, VA, USDA, jumbo, or a Non-QM path like bank statement, DSCR, or no-income verification, a short conversation about your credit and goals is usually enough to tell you today’s mortgage rate for your file.
Related Resources
Related Pages
Today’s mortgage rates specific to New Jersey purchase and refinance loans.
Today’s mortgage rates specific to Florida purchase and refinance loans.
See how credit score tiers shift your mortgage rate and program.
Lock in your program and mortgage rate range before you start touring homes.
What Clients Say
Real Reviews From Real Borrowers
Here’s what a few borrowers said about their mortgage rate and closing experience with Mortgage-World.com.
“I was turned down by a few mortgage companies. When I was about to give up I received a call from Chris. He was able to walk me through obtaining an approval. Always picked up his phone for questions. Always honest. End result, I’m now a first time home owner.”
“Chris did a fantastic job with helping us with our mortgage. He was thorough, things happened according to the schedule he laid out in the beginning and the close was quick and painless. Highly recommend Chris if you are looking for a mortgage!”
“Julia Luis has been very professional and has been very helpful during the process! Anyone looking for someone to assist them in their future adventures needs to have her on your side! Thank you for being there for me!!”
Common Questions Answered
Common Questions About Mortgage Rates
