Today's Mortgage Rates in California
We believe in radical transparency. Review our current live rates below, free from hidden origination fees or surprise broker points. What you see is what you get.
What actually drives your mortgage rate?
The rates listed above are averages based on specific, ideal criteria. But in reality, mortgage rates are highly personalized. Here are the three main factors our system evaluates when giving you a custom rate:
- Your Credit Score: A higher FICO score generally qualifies you for the lowest possible interest rates, as it represents lower risk to the lender.
- Your Down Payment (or Equity): Putting at least 20% down (or having 20% equity for a refinance) usually secures a better rate and helps you avoid Private Mortgage Insurance (PMI).
- Loan Term & Type: 15-year terms typically have lower rates than 30-year terms. Government-backed loans like FHA or VA may also offer lower base rates than Conventional loans.
Questions about Rates?
What is the difference between Interest Rate and APR?
The Interest Rate is the cost of borrowing the principal loan amount, which dictates your actual monthly payment. The Annual Percentage Rate (APR) is a broader measure that includes the interest rate PLUS any broker fees, points, and certain closing costs. Because Zeus charges zero lender fees, our APR is typically much closer to the base interest rate compared to traditional banks.
When should I "lock" my rate?
Mortgage rates fluctuate daily based on bond markets. You can lock in a rate once you have an accepted offer on a home (for a purchase) or once your refinance application is submitted. A rate lock protects you from market increases while your loan is being processed, usually for 30 to 45 days.
What are discount points?
Discount points are an optional upfront fee you can pay at closing to permanently lower your interest rate for the life of the loan. One point typically equals 1% of the loan amount. Our licensed advisors can help you calculate if buying points makes financial sense based on how long you plan to stay in the home.