October 19, 2026

Weekly survey of mortgage lenders with the lowest rates: 1 credit union, 3 banks, and an independent

Mortgage rates took another welcome turn slightly lower this week and a bank made its first appearance in the top five lenders with the lowest rates. Three of the low-rate lenders are banks, one is a credit union with open membership, and the other is an independent, non-depository lender. The Yahoo Finance weekly survey ranks lenders by the lowest annual percentage rate (APR), which includes lender fees. Read on to see the lenders with the lowest rates this week.

See our top picks for mortgage lenders for first-time home buyers.

Top 5 mortgage lenders with the best rates this week: October 19, 2026

Here are the five mortgage lenders with the best interest rates this week, as determined by our survey of the lowest mortgage rates on 30-year, fixed-rate conventional loans. The following numbers are each lender’s annual percentage rate (APR).

The full survey list of 16 national lenders, showing included fees, is in the table below.

Look for a date on advertised rates

Most lenders do a good job of showing advertised home loan rates without confusing or misleading a loan shopper. Most provide a publication date with a mortgage rate — some even show the time the mortgage rate was effective. We’ve found one national lender that doesn’t disclose a date at all. Another shows a rate, clearly outdated (it’s well under 7% and dated August 21), and says it is “today’s 30-year fixed mortgage rates.”

We don’t include these lenders in our survey, but how is that even legal? It certainly doesn’t respect the consumer.

Shopping for a mortgage isn’t easy. Our survey works to help you focus on three of the most important factors: 1) the offered rate, 2) the rate with fees (APR), and 3) the discount points used to lower a loan rate.

An APR difference of 0.60 percentage point separated the top lender, PenFed Credit Union, from the bottom-ranked Rocket Mortgage. Points varied from a 0.125 credit (Fifth Third Bank) to 2.181 (Chase Home Lending).

Read more: Is it a good time to refinance?

Important note: Sample mortgage rates use generic data

These are sample mortgage rates found on lender websites and are based on generic assumptions. Lenders advertise 30-year mortgage rates based on varying credit scores, down payments, and other credit qualifications. Where you live also affects your mortgage rate.

Your rate will be based on your particular credit profile.

If a mortgage lender required additional borrower information to provide a sample rate, we supplied a median home value and credit score, along with a 20% down payment, based on a home in the Midwest.

See the average mortgage rate in your state

How to shop for mortgage rates

The key to securing the lowest mortgage rate is shopping around, which could save borrowers up to an average of $44,000 over the life of a 30-year loan, according to a Realtor.com analysis.

Focus on the APR

We’re also looking for details that you will want to consider. Often, borrowers focus on the offered interest rate, as that’s what lenders typically highlight. However, the mortgage annual percentage rate, or APR, is the most important number.

APR includes both the interest rate and lender fees (for example, the mortgage origination fee), so it is the most accurate measure of your annual borrowing costs.

Discount points are an option

Lenders often include mortgage discount points to lower the interest rate they offer. That’s where things can get confusing.

First off, discount points are prepaid interest — an up-front fee paid at closing that reduces your interest rate. Although lenders often include discount points in their advertised rates online, buying points is optional.

Each point represents 1% of your loan amount and generally lowers your interest rate by about 0.25%. For example, one point on a $400,000 mortgage would cost $4,000 and reduce a 6.75% home loan to 6.50%.

Just remember: no matter what the lender puts in an advertised rate or a loan offer, when you get a Loan Estimate and see discount points under the lender fees section, you can say “no” and have them removed. But your rate will be higher.

How mortgage rates are determined

Simplify your mortgage rate shopping process

If possible, when shopping with three or more lenders, have each of them provide a quote for a mortgage rate with zero discount points. Then, focus on the APR for an accurate side-by-side comparison of rates and fees.

How we determined the mortgage lenders with the lowest rates

See the table below to understand the Yahoo Finance methodology for determining which mortgage lenders have the best rates this week. Remember, we are sorting by APR, which includes both the interest rates and mortgage lender fees, including points.

Mortgage lenders ranked by APR: October 17, 2026

Some advertised rates required no additional information. When asked for details, we used the U.S median home sales price of $410,800, a 20% down payment ($82,200; $328,600 loan), the current median FICO credit score of 715, and the ZIP code for Indianapolis, IN (46077)