30 fixed mortgage rates: what they mean and how to compare

Choosing a 30-year fixed loan means predictable payments from month one to the last. When people say 30 fixed mortgage rates, they mean a rate that never changes, while each payment gradually shifts from mostly interest to more principal. That stability supports a budget and long-range plans.

How a fixed rate works

At closing, the lender sets your fixed rate. The principal-and-interest payment stays the same, though taxes and insurance can change. Early in amortization, payments are interest-heavy; later they build equity faster. Paying a bit extra toward principal each month can reduce total interest and shorten the term.

What moves rates and how to shop

Rates reflect market yields, lender pricing, your credit, loan size, and the lock period. Compare quotes on the same day and request a Loan Estimate to line up costs.

• Raise credit; pay down cards and pause new debt.
• Increase down payment to lower LTV and improve pricing.
• Weigh discount points; know the break-even.
• Compare APR vs rate to capture fees.
• Choose the shortest lock you can use.