Compare current 10-year mortgage rates

Bankrate’s mortgage rates include national rate and APR averages; Bankrate Monitor (BRM) National Index rate averages; and “top offers”:

• National rate and APR averages: Displayed as daily and weekly averages, these rates and APRs are primarily collected from the 5 largest banks and thrifts across hundreds of markets in the U.S.
• Bankrate Monitor (BRM) National Index rate averages: Reported weekly, this long-standing survey collects rates from banks and thrifts across hundreds of markets in the U.S.
• “Top offers”: Displayed daily and weekly, these are an average of the rates listed first on our rate tables as advertised by our partners. The averages shown are based on the loan type and term selected.

You can compare national average mortgage rates to top offers to see how much you could save when shopping on Bankrate.

Learn more about how we collect, display and report mortgage rates.

A 10-year mortgage amortizes over 10 years. This means you’ll repay it in installments, with interest, over a decade. For the borrower who wants to pay off their mortgage quickly while reducing how much total interest they pay, a 10-year mortgage offers a way to do just that. To find out if a 10-year mortgage is right for you, do the math using our mortgage calculator.

• Adjustable-rate mortgage (ARM): An ARM and a 10-year loan typically have lower interest rates. However, the ARM rate is variable, so it’ll change after the initial lower-rate period ends. If you plan on moving within this introductory rate window, it might make sense to take out an ARM, which amortizes over 30 years, rather than a 10-year loan.
• 30-year or 15-year fixed-rate mortgages: Like a 10-year mortgage, 15-year and 30-year fixed-rate mortgages offer a predictable payment over the loan term. While their longer loan terms mean your monthly payment will be lower, you’ll pay more in interest than you would with a 10-year loan.
• Extra payments: If you can’t manage the higher payments on a 10-year loan, you can still pay off your loan in less time by making additional payments. You might do this by paying a little extra each month, biweekly or a lump sum once a year.
• Refinance: If you’re starting off with a longer-term mortgage, you might be able to refinance to a shorter term with a lower rate down the line.

The rate you get on a 10-year mortgage depends primarily on your credit score. Lenders also look at the size of your down payment and other assets, your income and debt. More broadly, mortgage rates move with the overall economy. While the Federal Reserve doesn’t directly control mortgage rates, its policy does guide the interest rate environment.

Sometimes, the rates for 10-year mortgages can be higher than those for 15-year mortgages, even though the shorter term of a 10-year loan presents less risk. That’s because 10-year mortgages are a niche product compared to 15-year loans.