What are today’s mortgage interest rates: April 20, 2026?

Homebuyers and owners looking to refinance in early 2026 began the year with cautious optimism. Mortgage interest rates had been falling with no clear end in sight after the Federal Reserve issued three rate cuts in the final four months of 2025. Average rates were under 6%, and by February, qualified borrowers were able to secure rates closer to 5%. Market conditions changed in March, sparked by a series of uneven economic reports and heightened geopolitical tensions and overseas conflicts. So far in April, however, conditions here have stabilized a bit. And mortgage interest rates seem to be improving gradually again, perhaps even to a point that encourages action on behalf of borrowers.

Still, being informed about your current rate offers is key. Considering that mortgage rates change each day, it may even be helpful to lock in a low mortgage rate offer now, versus waiting for the rate climate to improve any further. To better determine your next steps, it helps to know where mortgage interest rates stand right now, as of April 20, 2026. That’s what we’ll examine below.

See how low your current mortgage rate offers are here.

What are today’s mortgage interest rates?

The average mortgage interest rate on a 30-year mortgage is 5.99% as of April 20, 2026, according to Zillow. The average mortgage purchase rate on a 15-year term is now 5.50%. Both represent significant improvements compared to what borrowers were being offered as recently as a few weeks ago. On March 30, for example, rates here were 6.37% and 5.75%, respectively. 

So borrowers hoping for lower options to justify a home purchase this spring may want to seriously consider taking action now. They can always float down their current rate for a lower one before closing, should that opportunity materialize (and for a fee to the lender), or they could simply refinance in the future after purchasing the home. But today’s new and improved rates may not last much longer, as recent market volatility has clearly demonstrated.

Learn more about your mortgage rate lock options now.

What are today’s mortgage refinance rates?

The average mortgage refinance rate on a 30-year mortgage is 6.66% as of April 20, 2026, according to Zillow. The median refi rate on a 15-year term is 5.62%. With these being averages cited from one source, however, borrowers are encouraged to shop around to see what other rates and terms they may be able to qualify for that are potentially significantly lower than these. 

While your current mortgage lender may still be the one you ultimately work with, you won’t know which is offering the best deal until you take the time to research all of your options. And don’t forget about other terms, like 20-year refinance loans, that may be able to provide an advantageous combination of a shorter term and long-term interest cost savings.

The bottom line

The average mortgage purchase rate on a 30-year mortgage is 5.99%, and its 5.50% for a 15-year term as of April 20, 2026. The median refinance rate on a 30-year mortgage is 6.66%, and it’s 5.62% for a 15-year option. So there once again may be cost-effective options for borrowers to consider, even if they’re less than ideal compared to the lows offered in recent years. Take the time to shop around, compare rates, terms and conditions carefully, and consider contacting lenders directly as they may be able to outline options that aren’t always listed online.