Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.

Mortgage rates among leading lenders range from just below 6.5% to over 7% again this week. 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.

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

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).

Navy Federal Credit Union: 6.406%

Flagstar Bank: 6.466%

Better: 6.510%

PenFed Credit Union: 6.548%

Chase Home Loans: 6.578%

Citi Mortgage: 6.612%

Truist: 6.778%

Wells Fargo: 6.779%

Third Federal: 6.799%

Citizens Bank: 6.956%

Most borrowers (56%) don't shop mortgage rates, settling for the first interest rate quote they receive, according to LendingTree. As you can see from our weekly survey, there's more than a half-point spread in the APRs offered within the top 10 lenders, and an even greater difference in the fees charged (see the points table below). 

Of the 16 national lenders surveyed on August 3, Rate, PNC Bank, Fifth Third Bank, Bank of America, and Rocket Mortgage did not rank among the top 10 lenders sorted by annual percentage rates. U.S. Bank did not post a recent rate update. An APR difference of 0.735 percentage point separated the top lender, Navy Federal, from the bottom-ranked Rocket Mortgage. 

That's further proof that shopping multiple lenders can lead to significant savings.

Read more: Is it a good time to refinance?

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.

Read more: See the average mortgage rate in your state

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.

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.

Lenders often include mortgage discount points to lower the interest rate they offer. 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 6.75% home loan to 6.50%. 

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

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.

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.

Rank

Lender

Advertised 30-year

fixed rate

APR

Points/notes

1

Navy Federal

6.25%

6.406%

0.625 point

2

Flagstar Bank

6.375%

6.466%

1 point and $1,295 origination fee

3

Better Mortgage

6.250%

6.510%

2.26 points

4

PenFed Credit Union

6.375%

6.548%

1 point and 1% origination fee

5

Chase Home Loans

6.490%

6.578%

1 point

6

Citi Mortgage

6.50%

6.612%

0.750 point

7

Truist Bank

6.60%

6.778%

0.669 point

8

Wells Fargo

6.625%

6.779%

0.875 point

9

Third Federal

6.750%

6.799%

0 points

10

Citizens Bank

6.875%

6.965%

0.375 points

11

Rate

6.550%

6.998%

1.174 points

12

PNC Bank

6.875%

7.015%

0.539 point

13

Fifth Third Bank

6.875%

7.018%

-0.125 credit

14

Bank of America

6.875%

7.021%

0.647 point

15

Rocket Mortgage

6.875%

7.141%

1.625 points

16

U.S. Bank

N/A

N/A

N/A

Some advertised rates required no additional information. When asked for details, we used the U.S median home sales price of $410,800, a 20% down payment ($82,200; $328,600 loan),  the current median FICO credit score of 715, and the ZIP code for Indianapolis, IN (46077)

VA loans are great for military personnel, and the top-rated VA mortgage lenders offer low fees and interest rates. Find the best VA loan lender for your family.

The best mortgage refinance companies charge low interest rates and fees, and they often have unique perks for customers. Find your best mortgage refinance lender.

Lower Mortgage offers several mortgage types and fast closing times. Find out if Lower is a good fit for you in this in-depth review.

The best mortgage lenders for bad credit offer FHA loans, accept alternative credit data, and have unique programs for buyers. Find your best mortgage lender.

Third Federal has low mortgage rates and loan costs, but it doesn’t offer FHA or VA loans. Find out if Third Federal Savings & Loan mortgages are right for you.

The best mortgage lenders for low and no down payments have programs for low-income borrowers, down payment assistance, and more. Find out which is best for you.