Mortgage lenders with the best rates this week, March 2, 2026: Best rate drops to 5.375%

Core Insights - The top three mortgage lenders are offering the same interest rate of 5.375%, but the APR varies due to different fees [3] - Navy Federal Credit Union leads with an APR of 5.488% after including lender fees, highlighting the importance of comparing APRs when shopping for mortgages [3][4] - An APR difference of 1.311 percentage points exists between the top lender and the bottom-ranked lender, indicating significant variability among lenders [4] Mortgage Rate Overview - A survey of 16 national lenders revealed the best rates for 30-year fixed-rate conventional loans, with the focus on APR rather than just the interest rate [2][4] - Lenders like Bank of America, PNC, and Rocket Mortgage did not rank in the top 10 based on APR [4] Borrower Considerations - Borrowers should focus on the APR, which includes both the interest rate and lender fees, as it provides a more accurate measure of borrowing costs [6] - Shopping around for mortgage rates can save borrowers an average of $44,000 over the life of a 30-year loan [5] Discount Points and Offers - Discount points can be used to lower interest rates, where one point typically costs 1% of the loan amount and reduces the rate by about 0.25% [9] - Lenders are increasingly offering special discounts on interest rates and fees, reflecting heightened competition in the housing market [10] Shopping Strategy - When comparing lenders, it is advisable to request quotes for mortgage rates with zero discount points and focus on the APR for accurate comparisons [12] - Borrowers should inquire about any potential concessions from lenders, especially if they are considering multiple options [11]