Today’s national mortgage & refinance rates, January 24, 2022: Rates rise

Mortgage interest rates rose for all types of loans compared to a week ago, according to data compiled by Bankrate. Rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans edged higher.

Rates accurate as of January 24, 2022.

These rates are marketplace averages based on the assumptions here. Actual rates displayed within the site may vary. This story has been reviewed by in-house editor Bill McGuire. All rate data accurate as of Monday, January 24th, 2022 at 7:30am.

You can save thousands of dollars over the life of your mortgage by getting multiple offers. “It is so important to shop around,” says Greg McBride, CFA, Bankrate chief financial analyst. “Not everyone offers the same price, and some lenders may have motivation to be very competitive on price.”

Mortgage interest rates

30-year mortgage trends upward, +0.16%

The average 30-year fixed-mortgage rate is 3.68 percent, an increase of 16 basis points since the same time last week. This time a month ago, the average rate on a 30-year fixed mortgage was lower, at 3.19 percent.

At the current average rate, you’ll pay a combined $454.65 per month in principal and interest for every $100,000 you borrow. Compared to last week, that’s $6.72 higher.

How do I view personalized 30-year mortgage rates?

Use the loan widgets on this page or head to our primary rates page to see what kind of rates are available in your situation. You just need to give us a little information about your finances and where you live. With that data, Bankrate can show you real-time estimates of mortgages available to you from a number of providers.

15-year fixed mortgage climbs,+0.17%

The average rate for a 15-year fixed mortgage is 3.01 percent, up 17 basis points from a week ago.

Monthly payments on a 15-year fixed mortgage at that rate will cost roughly $422 per $100,000 borrowed. That’s obviously much higher than the monthly payment would be on a 30-year mortgage at that rate, but it comes with some big advantages: You’ll come out several thousand dollars ahead over the life of the loan in total interest paid and build equity much faster.

5/1 adjustable rate mortgage trends upward, +0.02%

The average rate on a 5/1 ARM is 2.79 percent, adding 2 basis points over the last week.

Adjustable-rate mortgages, or ARMs, are mortgage terms that come with a floating interest rate. To put it another way, the interest rate can change periodically throughout the life of the loan, unlike fixed-rate loans. These types of loans are best for those who expect to refinance or sell before the first or second adjustment. Rates could be substantially higher when the loan first adjusts, and thereafter.

Monthly payments on a 5/1 ARM at 2.79 percent would cost about $409 for each $100,000 borrowed over the initial five years, but could climb hundreds of dollars higher afterward, depending on the loan’s terms.

Jumbo mortgage trends upward, +0.18%

The current average rate you’ll pay for jumbo mortgages is 3.69 percent, up 18 basis points over the last week. A month ago, jumbo mortgages’ average rate was below that, at 3.18 percent.

At today’s average jumbo rate, you’ll pay $454.65 per month in principal and interest for every $100k you borrow. That’s an additional $6.72 per $100,000 compared to last week.

Rate review: How mortgage rates have moved over the past week

  • 30-year fixed mortgage rate: 3.68%, up from 3.52% last week, +0.16
  • 15-year fixed mortgage rate: 3.01%, up from 2.84% last week, +0.17
  • 5/1 ARM mortgage rate: 2.79%, up from 2.77% last week, +0.02
  • Jumbo mortgage rate: 3.69%, up from 3.51% last week, +0.18

Mortgage refinance rates

30-year mortgage refinance rate goes up, +0.17%

The average 30-year fixed-refinance rate is 3.68 percent, up 17 basis points since the same time last week. A month ago, the average rate on a 30-year fixed refinance was lower, at 3.16 percent.

At the current average rate, you’ll pay $454.65 per month in principal and interest for every $100,000 you borrow. That’s up $6.72 from what it would have been last week.

Are mortgage rates going up?

Throughout 2021, mortgage rates are expected to begin rising again. The National Association of Realtors expects rates to average 3.1% and the Mortgage Bankers Association (MBA) says mortgage rates will average 3.3% in 2021. These rate estimates are both up from the 3.0% mortgage rate average in 2020 but lower than 2019’s average rates. Many experts say it could be years before mortgage rates return to their pre-pandemic levels.


  • National Association of Real Estate Editors
  • Freddie Mac Federal Home Loan Mortgage Corporation

What comes next:

Featured lenders for January 24, 2022


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