Is 5.5% a good mortgage rate?
5.5% sits BELOW the illustrative range for a 740-score, 20%-down borrower (6%–6.5%) across Ralo's licensed states as of 2026-08-25 — for that profile it would be a strong quote; verify the points behind it, because rates below the market range are often bought, not offered.
Ranges from illustrative quotes priced 2026-08-25 across licensed-state counties. Refreshed through the day.
Today's illustrative 30-year fixed ranges by profile
| Credit score | Down payment | Illustrative range | Where 5.5% falls |
|---|---|---|---|
| 780 | 20% down | 6% – 6.375% | Below range — check the points |
| 780 | 5% down | 6% – 6.624% | Below range — check the points |
| 740 | 20% down | 6% – 6.5% | Below range — check the points |
| 740 | 5% down | 6% – 6.75% | Below range — check the points |
| 700 | 20% down | 6% – 6.99% | Below range — check the points |
| 700 | 5% down | 6% – 6.99% | Below range — check the points |
| 660 | 20% down | 6% – 7.125% | Below range — check the points |
| 660 | 5% down | 6% – 7.125% | Below range — check the points |
Why rate anecdotes mislead
Every "I got 5.9!" belongs to a pricing cell: a credit band, a down-payment tier, a loan size, a property type, a points decision, and a date. Quotes from different cells are different products — which is why forum answers to this question disagree so confidently. Ranges by profile fix the comparison: find your row, then judge your quote against borrowers who actually share it.
The three-number rule
A quote is rate + APR + points, judged together. A rate below every published range has usually been bought with points — a legitimate trade, but a different one. A rate at the top of the range with a large lender credit may be the better deal for a short hold. Rate vs APR and the points break-even cover the two halves of that judgment.
The only benchmark that settles it
Ranges locate the neighborhood; a same-day competing quote on your identical scenario is the test. Ralo — an automated mortgage broker, not a lender — prices your scenario across multiple lenders from one application and shows rate, APR, and fees together. See illustrative pricing or how to run the comparison yourself. Rates are illustrative examples, not a loan approval, rate lock, or commitment. Actual rates depend on credit score, LTV, occupancy, lock period, and loan amount. Available where licensed: California, Colorado, and Texas.