US mortgage rates — what 0.25% does to the payment
Headline rates move every week (see Freddie Mac PMMS). This page is a payment sensitivity tool — CFPB-style math, not a broker quote.
Updated 3 Sep 2026 Official sites linked Free · no account
Rate sensitivity
P&I only. Not a lender APR. Compare 0.25% more at your price.
- Loan
- $320,000
- Monthly P&I
- $2,023
- +0.25% costs extra
- $53/mo
$400,000 price · 20% down · 30-year · P&I only
| Rate | Monthly P&I |
|---|---|
| 6% | $1,919 |
| 6.25% | $1,970 |
| 6.5% | $2,023 |
| 6.75% | $2,076 |
| 7% | $2,129 |
Rate vs APR (CFPB framing)
The interest rate is what goes into this amortization. APR folds in certain lender fees so you can compare Loan Estimates. A 6.5% rate can have a higher APR once origination charges are included. Use the CFPB owning-a-home guides when you have two estimates in hand.
Points (prepaid interest) can buy the rate down. That is a cash-now vs payment-later trade, not something this slider prices. HOA fees never enter P&I. If the down payment is under 20%, lenders often add PMI until you reach that equity — add an estimate in the insurance field on the full calculator.
FAQs
Are these today’s mortgage rates?
No. They are examples so you can see payment sensitivity. Live APR comes from a lender, credit union or a purchase-lock. Freddie Mac PMMS is a weekly survey average, not your quote.
What does 0.25% extra cost?
On a $400,000 home with 20% down and 30 years, the table shows tens of dollars a month per quarter-point — not a rounding error. Use the slider for your price.
Does this include taxes and insurance?
The table and slider are principal and interest only. Add tax/insurance (and PMI if down payment is under 20%) in the full mortgage calculator.
15-year vs 30-year?
A 15-year loan has a higher monthly P&I and usually a lower rate. Switch the term in the slider. Closing costs are omitted.
Where should I look up current averages?
Freddie Mac Primary Mortgage Market Survey and CFPB’s owning-a-home tools. Then get a Loan Estimate from a lender — that is the legal disclosure.
Is this a pre-approval?
No. It is standard amortization math.
Official sources
Use these sites for the legal answer. We summarise; they decide.
Not a lender. Not a rate lock. Taxes, HOA, PMI and points are omitted unless you add them on the full calculator.