Our competitive mortgage rates are backed by an experienced staff of mortgage professionals. We update our interest rate table daily, Monday through Friday, so you always have the most current information on hand. Use our mortgage calculator to get a customized rate and payment estimate. For our current refinancing rates, go to mortgage refinance rates.
Current Mortgage Rates for Purchase
Get a more accurate rate by entering your ZIP code of the home you're looking to purchase.
Mortgage rates FAQs
Mortgage rates are determined by the amount borrowed and personal finances like credit history, loan terms and down payment combined with greater economic factors like the federal reserve rate, the prime rate, the overall economy and the housing market.
Note: your personal mortgage rate will differ from what you see on Chase's current mortgage rate page, as certain financial assumptions are made for the purposes of demonstration
Yes, your credit score can influence your mortgage rate. Past financial decisions as reflected in your credit score help lenders evaluate the risk of lending. Consequently, your credit score can often correlate with the interest rates a bank offers you. The good news is, there are ways to help improve credit before taking out a mortgage including making on-time payments, avoiding new debt and paying off delinquent accounts.
Interest rates and annual percentage rates (APR) are two different ways of expressing the fees a borrower incurs when taking out a mortgage:
- Interest rate relates to the cost of borrowing, stated as a percentage, on the principal amount of a mortgage. This is the rate the borrower's monthly payment is based on.
- APR measures both the interest charged as well as any other costs associated with the loan, such as discount points or lender origination fees. Because APR is designed to show the total cost of a loan, it can be useful when comparing loans from different lenders.
APRs are usually higher than interest rates because they include additional costs on top of the interest rate. Prior to signing a mortgage, the lender must disclose the loan's APR and interest rate to help the borrower understand what they ll be responsible for paying.
Mortgage rates can change daily as the economy and housing market fluctuate. However, there is no set schedule of when they will change. You can see when Chase's rates were last updated in the chart above.
A mortgage rate lock occurs when a lender agrees to freeze the borrower s interest rate while the mortgage application is in process. The agreement typically lasts 30 to 90 days to protect the borrower from potential inflation before closing day.
Learn about mortgage rates
Mortgage rates are the rate of interest that is charged on a mortgage. Calculated by your lender, mortgage rates can either be fixed for the length of your mortgage or adjustable based on the current market.
Based on a number of factors, mortgage rates are indicators of the level of risk a potential homebuyer presents to a lender. The higher the risk, the higher the mortgage rate. Qualified homebuyers can find lower mortgage rates by having a good credit score, a higher down payment and shorter loan terms.
Mortgage interest rates are just one part of your mortgage and they are often confused with annual percentage rate. Learn more about how interest rates differ from APRs.
Locking in an interest rate is also an option to ensure a lower mortgage rate. However, as mortgage rates change daily, work with your Home Lending Advisor to secure a rate for your budget and mortgage.
Mortgage rate resources
Mortgage interest rate vs. APR
Mortgages have interest and annual rates. Learn the difference between mortgage interest rates and APRs or annual percentage rates.
How to buy a home - Initial steps
Buying a home can be the largest purchase many of us make in our lifetime and, while exciting, can also be stressful. With so many factors to consider and so many online sources available, it can be difficult to know where to start.
Affordable down payment options
Whether you're buying a new home or exploring the benefits of refinancing, we offer affordable low down payment options and grants, plus our exclusive Chase DreaMaker℠ mortgage, to help you make it happen.
How to use a mortgage calculator
Follow our step-by-step guide on how to use a mortgage calculator and learn how this tool to calculate your estimated mortgage payments.
What do you need help with?
Using your home's equity
You can tap into your home's equity to finance home improvements, consolidate debt and more.
Helpful tools
Financing a home can be easy when you know how. Browse our tools, resources and articles for help understanding how buying a home, refinancing a mortgage and tapping into your home's equity works.
