## Rocket Mortgage Rates Today
Rocket Mortgage, a brand of Rocket Companies, is one of the largest online mortgage lenders in the United States. The company offers a variety of mortgage products, including fixed-rate mortgages, adjustable-rate mortgages, jumbo loans, and FHA loans.
**As of today, Rocket Mortgage’s rates for a 30-year fixed-rate mortgage start at 3.25% APR.** This rate is for borrowers with excellent credit and a down payment of at least 20%. Rates for borrowers with lower credit scores or smaller down payments will be higher.
**Rocket Mortgage’s rates for a 15-year fixed-rate mortgage start at 2.625% APR.** This rate is also for borrowers with excellent credit and a down payment of at least 20%. Rates for borrowers with lower credit scores or smaller down payments will be higher.
**Rocket Mortgage’s rates for a 5/1 adjustable-rate mortgage (ARM) start at 2.25% APR.** This rate is for borrowers with excellent credit and a down payment of at least 20%. After the initial 5-year period, the interest rate will adjust annually based on the prevailing market rate.
**Rocket Mortgage’s rates for a 7/1 ARM start at 2.5% APR.** This rate is also for borrowers with excellent credit and a down payment of at least 20%. After the initial 7-year period, the interest rate will adjust annually based on the prevailing market rate.
**Rocket Mortgage’s rates for a 10/1 ARM start at 2.75% APR.** This rate is for borrowers with excellent credit and a down payment of at least 20%. After the initial 10-year period, the interest rate will adjust annually based on the prevailing market rate.
**Please note that these rates are subject to change at any time.** To get a personalized mortgage rate quote, please visit Rocket Mortgage’s website or call 888-452-8328.
### Factors that Affect Mortgage Rates
There are a number of factors that can affect mortgage rates, including:
* **The Federal Reserve’s interest rate target:** The Federal Reserve sets a target for the federal funds rate, which is the interest rate that banks charge each other for short-term loans. When the Federal Reserve raises its target rate, mortgage rates typically rise as well.
* **Economic conditions:** Mortgage rates are also influenced by economic conditions, such as inflation and unemployment. When the economy is strong, mortgage rates tend to rise. When the economy is weak, mortgage rates tend to fall.
* **Supply and demand:** Mortgage rates are also affected by the supply and demand for mortgages. When there is a high demand for mortgages, rates tend to rise. When there is a low demand for mortgages, rates tend to fall.
* **Your credit score:** Your credit score is a major factor in determining your mortgage rate. Borrowers with higher credit scores typically qualify for lower interest rates. Borrowers with lower credit scores typically qualify for higher interest rates.
* **Your down payment:** The amount of your down payment can also affect your mortgage rate. Borrowers who make a larger down payment typically qualify for lower interest rates.
### How to Get the Best Mortgage Rate
There are a few things you can do to get the best mortgage rate:
* **Shop around:** Don’t just accept the first mortgage rate you’re offered. Compare rates from multiple lenders before making a decision.
* **Improve your credit score:** A higher credit score will help you qualify for a lower interest rate.
* **Make a larger down payment:** A larger down payment will reduce the amount of money you need to borrow, which can help you qualify for a lower interest rate.
* **Lock in your rate:** Once you find a mortgage rate you’re happy with, lock it in to protect yourself from rising rates.
By following these tips, you can help yourself get the best possible mortgage rate.
## Rocket Mortgage Reviews
Rocket Mortgage has received generally positive reviews from customers. The company has an A+ rating from the Better Business Bureau and a 4.9-star rating on Trustpilot. Customers praise Rocket Mortgage for its fast and easy online application process, its low rates, and its excellent customer service.
However, some customers have complained about Rocket Mortgage’s high closing costs and its lack of in-person support. If you’re considering using Rocket Mortgage, it’s important to weigh the pros and cons carefully before making a decision.
## Is Rocket Mortgage Right for You?
Rocket Mortgage is a good option for borrowers who are looking for a fast and easy online mortgage process. The company offers competitive rates and excellent customer service. However, Rocket Mortgage’s closing costs can be high, and it does not offer in-person support.
If you’re not comfortable with the online mortgage process or if you prefer to work with a local lender, Rocket Mortgage may not be the right choice for you. However, if you’re looking for a fast and easy way to get a mortgage, Rocket Mortgage is a great option.
## Conclusion
Rocket Mortgage is one of the largest online mortgage lenders in the United States. The company offers a variety of mortgage products, including fixed-rate mortgages, adjustable-rate mortgages, jumbo loans, and FHA loans. Rocket Mortgage’s rates are competitive and the company offers excellent customer service. However, Rocket Mortgage’s closing costs can be high and it does not offer in-person support. If you’re considering using Rocket Mortgage, it’s important to weigh the pros and cons carefully before making a decision.