Why One Site Says 5.91% and Another Says 6.20% — And What Your Mortgage Rate Really Is

Mortgage-rate headlines today are confusing on purpose? Not exactly. But they feel that way.

One site says 5.91% APR. Another says 6.20%. And buyers are left wondering whether rates actually fell, rose, or neither.

Here’s the truth: multiple sites can all be “right” at once.

Sources: NerdWallet, Bankrate, and WSJ Buy Side, linked below.

Method note: This article explains why national averages, APRs, weekly surveys, and “top offers” can all produce different numbers on the same day.

For a tactical checklist, see Why Your Friend Sees 5.74% While You See 6.05%.

TL;DR

• NerdWallet says the 30-year fixed is 5.91% APR using Zillow-provided rates.
• Bankrate shows 6.20% for the 30-year fixed today and explicitly highlights rate variability across lenders.
• WSJ Buy Side also shows 6.20% for the average 30-year fixed today.
• Your real rate is the one in your all-in Loan Estimate, not a headline average.

Why the numbers don’t match

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1) Rate vs APR

APR includes more costs than the base rate. So 5.91% APR is not the same thing as a 5.91% note rate.

2) Different data pipes

• NerdWallet cites Zillow-provided rates.
• Bankrate uses a combination of national averages, a long-running survey, and top offers.
• WSJ Buy Side cites a Bankrate-style average.

Different methodology = different result.

3) Different borrower assumptions

Online rates often assume:

• excellent credit,
• large down payment,
• low DTI,
• maybe points.

That is not every borrower.

How to find your real rate in 15 minutes

1. Pick one exact scenario:
   • price
   • down payment
   • credit band
   • lock term
   • loan type
2. Get 3 same-day quotes
3. Compare:
   • note rate
   • APR
   • points
   • lender fees
   • total cash-to-close

Use:

• Mortgage Calculator
• Affordability Calculator

Conclusion

Today’s rate headlines are not useless. They are just incomplete.

The only number that matters is the one you can actually lock, with the fees you can actually afford.

Related reading

• Why Rate Quotes Differ So Much
• Mortgage Rates Back Near 6%: Lock Strategy
• Mortgage Calculator
• Affordability Calculator
• Rent vs Buy Calculator

Ready to run your own numbers? Use the calculators to compare the real payment, not just the headline.