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Illinois & Indiana · Updated regularly

Today's Mortgage Rates

Here are today's average rates. But an average isn't your rate — so below, I show you the four things that actually set the number you'll pay, and how to move them in your favor.

Rates as of
30-Year Fixed 6.49% Source: Freddie Mac PMMS
15-Year Fixed 5.84% Source: Freddie Mac PMMS
30-Year FHA 6.15% Source: Mortgage News Daily
30-Year VA 6.17% Source: Mortgage News Daily

These are national-average interest rates — not an APR and not an offer to lend. Your rate depends on your credit, loan amount, down payment, and other factors, and can change daily. Taxes and insurance not included.

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What Actually Sets Your Rate

Anyone can post an average. The value is knowing which levers move your number — and which ones aren't worth chasing.

1

Your credit score

The single biggest lever. A 760 and a 680 applying the same day get different rates on the same loan. I'll show you exactly where you land and whether a small score bump is worth waiting for.

2

Down payment (LTV)

More down usually means a lower rate and no mortgage insurance. But not always — sometimes keeping cash and taking a slightly higher rate is the smarter move. I'll run both.

3

Loan type

Conventional, FHA, VA, and jumbo all price differently. FHA and VA often beat conventional for the right borrower. The 'best' rate is the one on the loan that actually fits you.

4

Points

You can pay upfront to buy the rate down. Whether that pays off depends on how long you'll keep the loan. This is pure math — and I'll show you the break-even before you decide.

When I'll tell you NOT to lock

I'm a broker, not a rate salesman. If today's numbers don't beat what you already have — or if waiting 60 days for a credit fix saves you more than it costs — I'll say so. That's the whole point of showing you the math.

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