Interest rates vary hugely by loan type, credit score, and term. Here’s what you should actually expect to pay in 2026 — and how to get the best rate.
Average Interest Rates by Loan Type
| Loan Type | Average Rate | Rate Range | Typical Term |
|---|---|---|---|
| 30-year fixed mortgage | 6.50% | 5.75-7.25% | 30 years |
| 15-year fixed mortgage | 5.80% | 5.25-6.50% | 15 years |
| 5/1 ARM mortgage | 6.00% | 5.50-6.75% | 5 years fixed, then adjustable |
| FHA mortgage | 6.25% | 5.75-7.00% | 30 years |
| VA mortgage | 6.10% | 5.50-6.75% | 30 years |
| Jumbo mortgage ($766,550+) | 6.75% | 6.00-7.50% | 30 years |
| HELOC | 8.50% | 7.50-12.00% | 10-year draw, 20-year repay |
| Home equity loan | 8.25% | 7.00-11.00% | 5-30 years |
| Auto loan (new car) | 7.00% | 4.50-12.00% | 3-7 years |
| Auto loan (used car) | 8.50% | 5.50-15.00% | 3-6 years |
| Federal student loan (undergrad) | 6.53% | Fixed | 10-25 years |
| Federal student loan (grad) | 8.08% | Fixed | 10-25 years |
| Federal PLUS loan (parent) | 9.08% | Fixed | 10-25 years |
| Private student loan | 4.50-16.00% | Variable: 4.50-14% | 5-20 years |
| Personal loan | 12.50% | 7.00-36.00% | 2-7 years |
| Credit card | 22.00% | 16.00-29.99% | Revolving |
| Credit card (store) | 28.00% | 25.00-32.00% | Revolving |
| 401(k) loan | ~Prime + 1% (9.5%) | To yourself | 1-5 years |
| Payday loan | 400%+ APR | 300-600%+ APR | 2 weeks |
| Buy Now Pay Later (BNPL) | 0-36% | 0% or 24-36% | 4-48 payments |
Interest Rates by Credit Score
Mortgage Rates (30-Year Fixed)
| Credit Score | Average Rate | Monthly Payment ($336K) | Total Interest (30 yr) |
|---|---|---|---|
| 760-850 | 6.05% | $2,027 | $394,706 |
| 700-759 | 6.27% | $2,078 | $412,086 |
| 680-699 | 6.45% | $2,120 | $427,156 |
| 660-679 | 6.66% | $2,168 | $444,561 |
| 640-659 | 7.09% | $2,268 | $480,486 |
| 620-639 | 7.64% | $2,398 | $527,230 |
Difference: A 620 score costs $132,524 more than a 760 score on the same mortgage.
Auto Loan Rates (New Car, 60-Month Term)
| Credit Score | Average Rate | Monthly Payment ($35K) | Total Interest |
|---|---|---|---|
| 750+ (Super prime) | 5.00% | $661 | $4,636 |
| 700-749 (Prime) | 6.50% | $685 | $6,085 |
| 650-699 (Near prime) | 9.00% | $727 | $8,596 |
| 600-649 (Subprime) | 12.50% | $789 | $12,335 |
| 500-599 (Deep subprime) | 17.00% | $860 | $16,632 |
Personal Loan Rates
| Credit Score | Average Rate | Monthly Payment ($15K, 5-yr) | Total Interest |
|---|---|---|---|
| 760+ | 8.50% | $308 | $3,468 |
| 720-759 | 11.00% | $327 | $4,594 |
| 680-719 | 15.00% | $357 | $6,411 |
| 640-679 | 21.00% | $407 | $9,425 |
| 580-639 | 28.00% | $462 | $12,687 |
Historical Context: Where Rates Have Been
| Loan Type | 2019 | 2021 (Low Point) | 2023 (High) | 2026 (Current) |
|---|---|---|---|---|
| 30-year mortgage | 3.94% | 2.65% | 7.79% | 6.50% |
| Auto loan (new) | 5.27% | 4.12% | 7.62% | 7.00% |
| Credit card | 17.14% | 16.28% | 22.75% | 22.00% |
| Personal loan | 10.63% | 9.34% | 12.49% | 12.50% |
| Federal funds rate | 1.50-1.75% | 0.00-0.25% | 5.25-5.50% | 4.25-4.50% |
Total Cost of Debt by Type
How much total interest you pay over the life of common loans:
| Debt | Amount | Rate | Term | Total Interest | Total Paid |
|---|---|---|---|---|---|
| Mortgage | $336,000 | 6.50% | 30 years | $428,000 | $764,000 |
| Auto loan | $35,000 | 7.00% | 5 years | $6,440 | $41,440 |
| Student loan | $37,000 | 6.53% | 10 years | $13,300 | $50,300 |
| Personal loan | $15,000 | 12.50% | 5 years | $5,225 | $20,225 |
| Credit card | $10,000 | 22.00% | Min payments | $13,060 | $23,060 |
How to Get the Best Interest Rate
| Strategy | Potential Savings | Effort |
|---|---|---|
| Improve credit score to 760+ | Save 1-2% on all loans | 6-12 months |
| Shop multiple lenders (3-5 quotes) | Save 0.5-1.0% | 1-2 weeks |
| Choose shorter loan terms | Save 0.5-1.5% rate reduction | Higher monthly payment |
| Make larger down payment (20%+) | Avoid PMI + lower rate | Requires more cash |
| Consider credit unions | Often 0.25-0.5% lower rates | Join a CU |
| Pay discount points on mortgage | 0.25% rate reduction per point | ~$3,360 per point |
| Use autopay (personal/student loans) | 0.25-0.50% discount | 2 minutes to set up |
| Negotiate with current lender | Rate match or retention offer | One phone call |
| Refinance when rates drop | Save based on rate decrease | Closing costs apply |
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