The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.230%, a decrease of about 2 basis points 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 5.535%, down about 5 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 6.230%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $363,571.31 in interest over the life of the loan.

 

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