Adjustable-rate mortgages, commonly called ARMs, work differently from fixed-rate mortgages because the interest rate can change after an initial fixed period. ARM products may be described using terms such as 5/1, 5/6, 7/1, or 7/6, with the numbers describing the initial period and subsequent adjustment schedule.
Because future payments can change, borrowers should understand the initial rate, adjustment frequency, index, margin, and applicable rate caps before comparing an ARM with a fixed mortgage.
Our guide Fixed or Adjustable Mortgage: Which Is Better for Me? explains the fundamental differences between these two mortgage structures and the factors borrowers can consider.
Homeowners who already have an ARM may also find Refinance from ARM to Fixed: When to Switch useful when evaluating whether refinancing could change their future payment structure.
Current ARM rates shown on this page are market indicators rather than personalized offers; actual pricing can vary according to the borrower, property, loan amount, lender, and qualification criteria.
R Singha, MortgageRatesCheckerMortgage Rates by Year
Mortgage rates have changed significantly over the years, affecting how much homebuyers pay each month and how affordable a home can feel. The chart above lets you quickly compare average mortgage rates from 2010 through 2025 and see how borrowing costs moved over time. Rates fell to historic lows around 2020 and 2021 before rising sharply in the following years. Looking at these yearly averages can help put today’s mortgage rates into perspective and give you a better understanding of how changing interest rates can affect home-buying and refinancing decisions.
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MortgageRatesChecker provides educational mortgage calculators, loan tools, and financial guides designed to help you better understand home financing. Our content is researched, fact-checked, and regularly updated in accordance with our Editorial Policy, using trusted information from our Data Sources and transparent methodologies explained in How We Calculate. Learn more about our commitment to accuracy on Why Trust Us. This content is provided for informational purposes only and should not be considered financial, legal, tax, investment, or mortgage advice. Mortgage rates, lending requirements, loan programs, and regulations may change without notice. Before making any borrowing, refinancing, or home-buying decision, consult your Bank or Mortgage Lender, licensed financial advisor, tax professional, or attorney based on your individual circumstances. MortgageRatesChecker is an independent educational resource and is not a lender, mortgage broker, financial advisor, or government agency. Please review our Affiliate Disclosure, Advertiser Disclosure, Disclaimer, and Terms & Conditions for additional information.
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