The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.472%, an increase of 1 basis point from the day before, according to data from mortgage data company Optimal Blue. Meanwhile, the average rate for a 15-year, fixed-rate conforming mortgage loan is 5.696%, down about 10 basis points for the same period. We ran the numbers through the mortgage calculator provided by the federal government’s Office of Financial Readiness. At the current rate of 6.472%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $380,648.58 in interest over the life of the loan.

 

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