Current National Mortgage Rates: January 4, 2023—Mortgage Rates Rise Again

Today, the average rate on a 30-year fixed mortgage is 6.83%, according to On a 15-year fixed mortgage, the average rate is 5.93%. The average rate on a 30-year jumbo mortgage is 6.88%, and the average rate on a 5/1 ARM is 5.50%.

Related: Compare Current Mortgage Rates

Mortgage Rates for January 4, 2023

30-Year Fixed Mortgage Rates

Today’s 30-year-fixed rate mortgage—the most popular mortgage product—is 6.83%, up 0.05% from a week earlier. Over the past 52 weeks, the lowest rate was 6.57% and the highest was 7.41%.

The interest rate is just one fee included in your mortgage. You’ll also pay lender fees, which differ from lender to lender. Both interest rate and lender fees are captured in the annual percentage rate, or the APR. This week the APR on a 30-year fixed-rate mortgage is 6.85%. Last week, the APR was 6.80%.

Let’s say your home loan is $100,000 and you have a 30-year, fixed-rate mortgage with the current rate of 6.83%, your monthly payment will be about $654, including principal and interest (taxes and fees not included), the Forbes Advisor mortgage calculator shows. That’s around $135,413 in total interest over the life of the loan.

15-Year Mortgage Rates

Today’s 15-year, fixed-rate mortgage is 5.93%, up 0.08% from the previous week. The same time last week, the 15-year, fixed-rate mortgage was at 5.85%. Today’s rate is higher than the 52-week low of 5.75%.

The APR on a 15-year fixed is 5.99%. It was 5.90% a week earlier.

A 15-year, fixed-rate mortgage with today’s interest rate of 5.93% will cost $840 per month in principal and interest on a $100,000 mortgage (not including taxes and insurance). In this scenario, borrowers would pay approximately $51,214 in total interest.

Jumbo Mortgage Rates

The current average interest rate on a 30-year, fixed-rate jumbo mortgage is 6.88%— 0.03% up from last week. The 30-year jumbo mortgage rate had a 52-week low of 6.58% and a 52-week high of 7.44%.

A 30-year jumbo mortgage at today’s fixed interest rate of 6.88% will cost you $657 per month in principal and interest per $100,000. On a $750,000 jumbo mortgage, the monthly principal and interest payment would be approximately $4,934.

5/1 Adjustable-Rate Mortgage Rates

Today’s average interest rate on a 5/1 ARM is 5.50%, up 0.06% from a week earlier. In the past 52 weeks, the lowest 5/1 ARM rate was 5.40% and the high was 5.60%.

Borrowers with the current rate of 5.50% will spend $568 on principal and interest per month on a $100,000 loan.

Where Are Mortgage Rates Headed This Year?

During the first part of 2022, rates for home loans rose and currently sit at about 6.83% for the popular 30-year fixed-rate mortgage. Experts are divided on whether they’ll continue to rise—some forecasts put the year-end average at nearly 7%—or stay flat from here. If you’re in the market for a mortgage, you should check rates frequently, and always comparison shop for lenders.

What’s an APR, and Why Is It Important?

APR, or annual percentage rate, is a calculation that includes both a loan’s interest rate and a loan’s finance charges, expressed as an annual cost over the life of the loan. In other words, it’s the total cost of credit. APR accounts for interest, fees and time.

Since APRs include both the interest rate and certain fees associated with a home loan, the APR can help you understand the total cost of a mortgage if you keep it for the entire term. The APR will usually be higher than the interest rate, but there are exceptions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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