Mortgage Rate Trends
Conventional, FHA, VA, USDA and jumbo are live national averages (Freddie Mac PMMS + Optimal Blue). Non-QM rates (bank statement, P&L, DSCR, ITIN) are estimated from market spreads. None are personalized quotes or offers of credit.
Live data · as of Jul 30, 2026
12-month trend
Conventional 30-yr — Freddie Mac PMMS (live) · FHA — Optimal Blue OBMMI (live) · Bank statement — estimated (conventional + market spread).
Scrub the rate outlook.
Drag across the curve to read the rate and your payment.
Illustrative sample projection — not a forecast or a quote.
Rates by loan type
Non-QM products carry a rate premium over conforming loans — the spread reflects additional lender risk, not a penalty. The right loan type is the one you qualify for.
| Loan type | Rate | Audience |
|---|---|---|
| Conventional 30-year | 6.66% | — |
| Conventional 15-year | 6.04% | — |
| FHA | 6.48% | — |
| VA | 6.32% | — |
| USDA | 6.43% | — |
| Jumbo | 6.69% | — |
| Bank statement | 7.50% est. | Self-employed |
| Asset depletion | 7.35% est. | Self-employed |
| P&L only | 7.55% est. | Self-employed |
| DSCR (investor) | 7.85% est. | Investor |
| ITIN | 8.15% est. | Newcomer |
Conventional, FHA, VA, USDA and jumbo are live national averages (Freddie Mac PMMS + Optimal Blue); rows marked est. (non-QM) are estimated from market spreads. None are personalized quotes, pre-approvals, or offers of credit — actual rates depend on credit score, LTV, property type, loan size, and lender. Consult a licensed mortgage professional before borrowing.
Why non-QM rates are higher
Non-QM lenders — those offering bank statement loans, P&L-only loans, DSCR, and ITIN mortgages — price in additional risk because Fannie Mae and Freddie Mac won’t buy these loans on the secondary market. The lender holds the loan or sells it to a private investor, so the rate reflects that retained risk.
The spread typically runs 0.5–2 percentage points over conforming rates. A self-employed borrower who can document income conventionally (two years of tax returns showing stable income) will usually qualify for a conforming rate — the loan type quiz can help you figure out which category you fall into.
For many non-traditional borrowers the choice isn’t “non-QM at a higher rate vs. conforming at a lower rate” — it’s “non-QM or no loan.” The extra cost buys access to homeownership that wouldn’t otherwise exist.