Real Time Mortgage Rates for Informed Buyers
Trying to make sense of current mortgage rates right now can feel like tracking a moving target. This page pulls in live national average mortgage rates along with a 5 year trend graph, and then ties those numbers back to what they can mean for buyers and homeowners in San Diego, and beyond, if you’re not lucky enough to live in San Diego.
Current Home Mortgage Rates
The live rate table below is provided by Mortgage News Daily and reflects current national average rates. Your actual rate will depend on your credit profile, loan type, down payment, and lender.
Data source: Mortgage News Daily national average rate index. This information is for general educational purposes only and is not a commitment to lend or a quote for any specific borrower.
Mortgage Rate Trends Over the Past 5 Years
Seeing rates move day to day, or even over the course of six months is one thing. Seeing the trend over several years is often more helpful for long term planning. A five year chart also gives you more context of how rates now compare to recent history. If you go back far enough in time, you can find both historic and very atypical lows (as low as the mid two’s in early 2021 during the pandemic), as well as unusual highs (just below 19% around 1981). The chart below shows the average 30 year fixed mortgage rate over time, focused on the most recent five year period.
Source: Freddie Mac, 30 Year Fixed Rate Mortgage Average in the United States (via Federal Reserve Bank of St. Louis).
When you zoom out to several years, a few things usually stand out:
- Rates tend to move in cycles rather than in a straight line.
- Short term spikes and dips are common around major economic news.
- Even small changes in rate can make a noticeable difference in monthly payments on larger loan amounts.
How Often Are These Mortgage Rates Updated?
The live rate table at the top of this page updates automatically as Mortgage News Daily publishes new data. Their index is based on actual rate quotes from lenders across the country, not just a single source.
The historical five year chart is updated by the Federal Reserve Bank of St. Louis using data from Freddie Mac. That dataset is typically updated weekly.
Are These Rates Specific To San Diego?
No. The table and chart show national average mortgage rates. San Diego mortgage rates may price slightly higher or lower on any given day, and vary from lender to lender. Generally your rates are based on:
- Your credit score and income profile
- Loan type and program (conventional, jumbo, VA, FHA, etc.)
- Loan amount and down payment
- Occupancy and property type
- Discount points, closing credits, and other pricing adjustments
These national averages still provide a useful benchmark for what you might expect in the San Diego market, with the understanding that individual quotes can vary.
What Today’s Rates Might Mean For Your Buying Power
Here is a simple illustration of how rate changes can affect a principal and interest payment on a 30 year fixed loan. Taxes, insurance, any HOA dues, and mortgage insurance (if applicable) are not included. This is for comparison only and the numbers are approximate.
| Loan Amount | Rate Example A | Rate Example B | Approx. Difference |
|---|---|---|---|
| $500,000 | At 6.25%: about $3,080 / month | At 7.00%: about $3,330 / month | ≈ $250 / month |
| $750,000 | At 6.25%: about $4,620 / month | At 7.00%: about $4,995 / month | ≈ $375 / month |
| $1,000,000 | At 6.25%: about $6,160 / month | At 7.00%: about $6,660 / month | ≈ $500 / month |
Payment estimates above are principal and interest only, rounded to the nearest ten dollars, and are provided for general illustration. They are not a quote or a commitment to lend.
Frequently Asked Questions About Mortgage Rates
Do I need to wait for the “perfect” rate to buy?
For most buyers, it is more important to find the right home and a comfortable payment than it is to time the absolute lowest rate. And trying to time the lowest rate can be challenging if not impossible depending on what the mortgage market is doing when you are home shopping. Many buyers plan to refinance later if rates move lower, while still taking advantage of today’s housing opportunities. However, if rates are trending up, the opportunity to refinance isn’t always an option.
Can I lock a mortgage rate in advance?
Yes. Many lenders offer rate locks for 30, 45, 60, or even more days. Some also offer float down options if rates improve during the lock period. Exact lock terms and costs vary by lender and it is best to discuss these options with one or more trusted lenders.
What is the difference between the rate and the APR?
The rate is the interest charged on the loan balance. APR (annual percentage rate) is intended to reflect the total cost of borrowing, including certain fees and costs, spread over the life of the loan. The data on this page shows rate indices, not APR, and is for general reference only.
How do I get an accurate quote for my situation?
The best next step is to talk directly with a trusted local lender. They will review your credit, income, assets, and goals, and then provide a tailored rate quote including estimated closing costs. If you are contemplating a home purchase, I highly recommend getting a preapproval from a reputable local lender before you start home shopping. It’s a critical first step and will give you a clear sense of the current San Diego mortgage rates.
Thinking About Buying In San Diego?
If you are considering a home purchase (and/or sale) in San Diego and want to understand how today’s mortgage rates affect your options, I am happy to help by referring you to a reputable and vetted local lender. The lender can then:
- Discuss how rates impact your price range and monthly budget
- Run scenarios for different down payments and price points
- Help you evaluate whether a purchase, sale, or refinance makes sense in the current market
- Estimate your full monthly payment including taxes, insurance, and HOA dues
- Review whether buying points makes sense for your time horizon
- Compare fixed and adjustable loan structures and their impact on affordability
- Identify loan programs that fit your profile such as VA, FHA, jumbo, or first time buyer options
- Explain how rate locks work and when locking may be beneficial
- Clarify cash to close including down payment, closing costs, and potential lender credits
- Discuss potential refinance opportunities if rates fall later
Have questions about mortgage rates and your next move in San Diego?
Contact me any time and we can walk through your plans.
