The power of shopping rates

Web Desk May 26, 2026

0 1 3 minutes read

There was a shakeup on the leaderboard of lenders with the best mortgage rates following the Memorial Day weekend, according to our latest analysis. The Yahoo Finance weekly survey ranks lenders by the lowest annual percentage rate (APR), which includes lender fees. Read on to see the 10 lenders with the lowest rates this week.

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

Mortgage lenders with the best rates: May 26, 2026

Here are the 10 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).

Lowest rate leadership changes

Our latest survey proves the power of shopping multiple lenders to get your best mortgage rate. U.S. Bank and Citi Mortgage climbed to the top of our list of low-rate lenders, besting the two credit unions normally taking top honors: Navy Federal and PenFed.

Of the 16 national lenders surveyed on May 26, Fifth Third, Wells Fargo, Bank of America, PNC, Third Federal, and Rocket Mortgage did not make the top 10 based on annual percentage rates. An APR difference of 1.026 percentage points separated the top lender, U.S. Bank, from the bottom-ranked Rocket Mortgage.

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. Even where you live 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, with a 20% down payment based on a home located in the Midwest.

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 analysis by Realtor.com.

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 their offered interest rate. 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 6.25% home loan to 6%.

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

Learn more: How mortgage rates are determined

Look for special rate offers and fee discounts

One thing we’re seeing more often: Lenders sometimes offer special discounts off their interest rates and fees. For example, Chase Home Loans just completed another mortgage rate sale. We would like to see more mortgage lenders launch such consumer-oriented promotions. And from the national response we’ve seen each time Chase hosts a rate sale, many borrowers would too.

If a lender you are interested in is not currently promoting a discount, ask for any concessions they can offer and let them know you are shopping with multiple lenders.

Simplify your mortgage rate shopping process

That’s a lot of moving parts, we know.

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.