Mortgage rates reflect financial-market conditions and details such as credit, loan size, property type, occupancy, and down payment.

Credit is one factor lenders use when pricing a mortgage. The effect depends on the loan program and the rest of your application.

Down payment affects the loan-to-value ratio and can change pricing and mortgage-insurance costs. Compare the full cost of each option.

Different loan programs and repayment terms have different pricing. Compare payments and total costs alongside the interest rate.

The Federal Reserve sets its policy rate. Mortgage rates are influenced by broader financial markets and do not move in direct step with every Fed decision.

Bond-market movements, economic reports, inflation expectations, and lender pricing can change the rates available.

Discount points are an upfront cost that may reduce your interest rate. Consider the cost and break-even period for your plans.

A published national average is a benchmark. Your quote reflects your loan details, pricing choices, and market conditions when it is prepared.