

The average 10-year mortgage rate is 5.84 % as of October 2025. While market trends play a big role, your actual rate depends on personal factors like your credit score, debt-to-income ratio, loan amount and repayment terms.
The average 10-year mortgage rate is 5.84 % as of October 2025, according to Zillow. While mortgage rates fluctuate based on economic conditions, the rate you receive depends largely on your credit profile, down payment and other financial details.
If you're thinking about a 10-year mortgage, here's what to know about current trends, eligibility and how to get the lowest possible rate.
Rates on 10-year mortgages are generally a fair bit lower than 15- and 30-year mortgages because they pose less long-term risk to lenders.
Mortgage rates are largely influenced by the yield on the 10-year Treasury note, which responds to factors like inflation, job growth and investor sentiment about future Federal Reserve decisions. When investors worry about long-term economic stability, they often demand higher bond yields, which pushes mortgage rates higher as a result.
Refer to the table below for current interest rates on some of the most common mortgage loans. Annual percentage rate (APR) includes the interest rate plus any fees or additional costs the lender charges.
Mortgage | Rate | APR | Monthly Payment |
---|---|---|---|
30-year fixed, conventional | 6.78%* | 6.90% | $2,152.41 |
15-year fixed, conventional | 5.79%* | 5.98% | $2,668.11 |
5-year/6-month ARM | 6.50%* | 7.01% | $5,853.99 |
30-year fixed, jumbo | 6.47%** | 6.61% | $4,433.22 |
30-year fixed, FHA | 6.13%** | 6.25% | $2,032.34 |
30-year fixed, VA | 5.89%** | 6.00% | $1,987.07 |
*Source: Curinos LLC, October 2025; assumes a 720 FICO® ScoreΘ, $350,000 mortgage
**Source: Optimal Blue via FRED, October 2025
Notes: Rates can vary by data source; monthly payment calculation uses APR and assumes a $350,000 mortgage and 20% down; jumbo loan payment assumes a balance equal to the conforming loan limit of $806,500
During the COVID-19 pandemic, mortgage rates fell to record lows as the Federal Reserve slashed interest rates to boost economic activity. However, in 2022, mortgage rates began climbing quickly as the Fed aggressively raised the federal funds rate to curb inflation.
Compare now: Current Mortgage Rates
By late 2023, mortgage rates peaked, including those for 10-year loans. Since then, rates have remained elevated but relatively steady, reflecting persistent economic uncertainty and the Fed's cautious approach to monetary policy.
See how rates for 30-year mortgage loans have trended here:
Check today’s rates to find the best loan offers. Staying updated on current rates helps you secure a competitive mortgage and save more over time.
As previously mentioned, 10-year mortgage loans tend to have lower interest rates compared to loans with longer repayment terms. However, as a short-term mortgage, a 10-year loan generally carries much higher payments compared to, say, a 30-year loan.
In addition to lender risk and economic conditions, here are some factors that may influence the interest rate you qualify for on a 10-year home loan:
Learn more: How Does Mortgage Interest Work?
Because 10-year loans come with higher monthly payments, qualifying can be slightly more challenging than with longer-term loans. Still, the base requirements are similar to other conventional loans:
Any mortgage can be a significant financial commitment, but it's particularly important to carefully weigh the advantages and disadvantages of a short-term home loan before you apply. Here's what to consider.
Lower interest rates: Ten-year loans typically come with the lowest fixed rates available, even after accounting for personal creditworthiness.
Significant interest savings: You'll pay far less in interest compared to a 15- or 30-year loan. In some cases, you may be able to save tens or even hundreds of thousands of dollars.
Faster equity growth: More of your payment goes toward the principal balance from the start, helping you build equity quickly. After a decade, you'll own your home free and clear.
High monthly payments: A shorter term means larger payments, which may be tough to fit into your budget.
Tighter qualification: The requirements aren't much different compared to longer-term loans. However, you'll still need a strong income and low debt levels to qualify for the higher payment of a 10-year mortgage.
Less financial flexibility: Larger payments can reduce your ability to save or invest elsewhere.
While you can't control the market or lender policies, you can take steps to improve your odds of securing the lowest possible rate:
If a 10-year mortgage isn't quite the right fit, here are some options to consider:
A 10-year mortgage can be a smart way to save on interest and own your home faster, but it's not for everyone. The higher monthly payments may stretch your budget, and DTI qualification standards can be tougher.
Before you apply, it's a good idea to check your credit and take steps to strengthen your financial profile. Experian's free credit monitoring tool can help you track your FICO® Score and watch for changes on your Experian credit report so you can move forward with confidence and secure the best rate possible.
Explore personalized solutions from multiple lenders and make informed decisions about your home financing. Leverage expert advice to see if you can save thousands of dollars.
Learn moreBen Luthi has worked in financial planning, banking and auto finance, and writes about all aspects of money. His work has appeared in Time, Success, USA Today, Credit Karma, NerdWallet, Wirecutter and more.
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