The mortgage interest rate climate is constantly changing, as can clearly be seen just by the movement in recent weeks. On March 2, 2026, for example, the average rate on a 30-year mortgage was just 5.75%, meaning that qualified borrowers may have been able to find a rate closer to 5%. By March 31, however, that rate had surged to 6.37%, a more than 50 basis point jump sparked in large part by geopolitical tensions and overseas conflicts. This April, however, rates have again reversed course, and earlier this week, that average was down to 6.00% after briefly breaking into the 5% range last week.

Against this backdrop, it's arguably more important than usual for borrowers to shop around and research their rate options and lenders. And that's true whether they're looking to buy a new home or refinance their existing one. Getting rate quotes from at least three different lenders can help these borrowers build a baseline to compare against. To better understand the affordability those lenders represent, however, buyers and owners must know where mortgage interest rates stand as of April 28, 2026.

Start by seeing how low your current mortgage rate offers are here now.

What are today's mortgage rates?

The average mortgage interest rate on a 30-year mortgage term is 6.12% as of April 28, 2026, according to Zillow. The median rate on a 15-year alternative is 5.62%. These are just averages from one source, however, so borrowers who think these rates are slightly out of reach but close to what they need to support purchasing activity are encouraged to shop around online now. They may be able to find better rates and terms by researching their options. And with online marketplaces making it easier than ever to compare rates, terms, closing costs and more all in one easy-to-understand location, this research can be done effectively and efficiently today.

Shop for mortgage rates and lenders online now.

What are today's mortgage refinance rates?

The average mortgage refinance rate on a 30-year term is 6.45% as of April 28, 2026, according to Zillow. The median refi rate on a 15-year term is 5.60%. While these are two of the most common mortgage terms, they're not the only ones worth researching. And that's especially true in today's unique interest rate environment. That means looking into 20-year mortgage terms too, which may be able to combine the shorter repayment period and improved rate that many borrowers can benefit from. That said, a shorter mortgage term can mean larger monthly payments, thanks to the condensed timeframe (depending on how much of a mortgage balance is being refinanced). So speak with lenders who offer all three options – 30-year mortgages, 20-year mortgages and 15-year mortgages – to see how today's rates and payments could work for your budget.

The bottom line

The average mortgage interest rate on a 30-year mortgage is 6.12% as of April 28, 2026 and it is 5.62% for a 15-year option. The median refinance rate on a 30-year term, meanwhile, is 6.45% and it is 5.60% for a 15-year alternative. Today's rates may not be ideal, but they're better than what they were a few weeks ago and improved from what they were at similar points in 2025 and 2024, too. Evaluate your options closely, then, as the payments associated with each rate and term may actually wind up being more affordable than you'd expect by simply looking at these numbers on paper.