August 30, 2026: Mortgage Purchase Rates Climb 18 Basis Points While Refinance Rates Dip Slightly

Today’s fixed mortgage rates have moved higher compared to last week, according to Zillow’s lender marketplace. The 30‑year fixed rate is up 18 basis points at 6.55%, the 15‑year fixed rate is up 3 basis points at 5.91%, and the 5/1 adjustable‑rate mortgage has dropped 48 basis points to 6.26%.

Today’s mortgage rates

Below are the current mortgage rates for Sunday, August 30, 2026, according to the latest Zillow data.

• 30-year fixed: 6.55%

• 20-year fixed: 6.46%

• 15-year fixed: 5.91%

• 5/1 ARM: 6.26%

• 7/1 ARM: 6.11%

• 30-year VA: 6.11%

• 15-year VA: 5.91%

• 5/1 VA: 6.02%

Note that these figures represent national averages and are rounded to the nearest hundredth of a percent.

Today’s mortgage refinance rates

The following are today’s mortgage refinance rates for Sunday, August 30, 2026, according to the latest Zillow data.

• 30-year fixed: 6.51%

• 20-year fixed: 6.48%

• 15-year fixed: 5.89%

• 5/1 ARM: 6.19%

• 7/1 ARM: 6.41%

• 30-year VA: 6.07%

• 15-year VA: 5.58%

• 5/1 VA: 5.58%

Again, these rates are national averages rounded to the nearest hundredth of a percent. Refinance rates typically exceed purchase rates, though exceptions exist.

Monthly mortgage payment calculator

Use the mortgage calculator below to see how various mortgage terms and interest rates will impact your monthly payments.

Payment breakdown Amortization

Mortgage payment calculator

Mortgage payment breakdown

81% Principal & interest

$2,178 Taxes, insurance, HOA fees

You can bookmark the Yahoo Finance mortgage payment calculator for easy access later. It incorporates property taxes and homeowners insurance to give a more realistic estimate of your total monthly housing cost than a simple principal‑and‑interest calculation.

30-year vs. 15-year fixed mortgage rates

The average 30‑year fixed mortgage rate is 6.55% today. A 30‑year term is the most popular option because it spreads payments across 360 months, resulting in lower monthly payments compared to a shorter term.

The average 15‑year fixed mortgage rate is 5.91% today. When choosing between a 15‑year and a 30‑year term, weigh your short‑term affordability against long‑term savings goals.

A 15‑year mortgage typically carries a lower interest rate than a 30‑year loan. While this means you’ll pay off the loan 15 years sooner and incur less total interest, the monthly payment will be higher because the same principal is amortized over half the time.

For example, a $300,000 mortgage with a 30‑year term at 6.41% would result in a principal‑and‑interest payment of roughly $1,878.48 per month, and total interest paid over the life of the loan would be about $376,254—adding to the original $300,000 principal.

The same $300,000 loan with a 15‑year term at 5.80% would increase the monthly principal‑and‑interest payment to about $2,499.27, while total interest paid would drop to roughly $149,869 over the loan’s life.

Fixed-rate vs. adjustable-rate mortgages

A fixed‑rate mortgage locks in the interest rate for the entire loan term, providing payment stability; however, refinancing will introduce a new rate.

An adjustable‑rate mortgage (ARM) holds the interest rate constant for an initial period, after which it adjusts periodically based on market conditions and the terms of your loan contract. For instance, a 7/1 ARM locks the rate for the first seven years and then adjusts annually for the remaining 23 years.

ARMs often begin with lower rates than fixed‑rate loans, but they can rise after the initial fixed period. In recent markets, some fixed rates have been lower than introductory ARM rates. Discuss the full terms with your lender before deciding which product suits your needs.

How to get a low mortgage rate

Lenders generally reserve their lowest rates for borrowers with larger down payments, strong credit scores, and low debt‑to‑income ratios. If you aim for a lower rate, focus on building savings, improving your credit, and reducing existing debt before you begin house hunting.

Waiting for rates to fall may not be the most effective strategy; instead, strengthening your personal finances is typically the best way to secure a lower rate if you’re ready to purchase.

How to choose a mortgage lender

Secure the best lender by obtaining preapproval from three to four providers and submitting those applications within a brief window. This approach yields the most reliable rate comparisons while minimizing the impact on your credit score.

When evaluating lenders, compare more than just the interest rates. The annual percentage rate (APR) incorporates the interest rate, discount points, and fees, offering a clearer picture of the true borrowing cost. The APR is often the most important metric for assessing different loan offers.

Current mortgage rates: FAQs

What are mortgage interest rates doing right now?

Current data from Zillow’s lender marketplace shows that fixed mortgage rates have increased relative to the previous week. The 30‑year fixed rate is up 18 basis points at 6.55%, the 15‑year fixed rate is up 3 basis points at 5.91%, and the 5/1 ARM has dropped 48 basis points to 6.26%.

What’s a good mortgage rate right now?

The average 30‑year fixed mortgage rate stands at 6.55% today, per Zillow. Borrowers with strong credit scores, substantial down payments, and low debt‑to‑income ratios may qualify for even lower rates.

Are mortgage rates expected to drop?

Forecasts from the Mortgage Bankers Association project the 30‑year rate to average between 6.6% and 6.7% for the remainder of 2026, while Fannie Mae anticipates a range of 6.7% to 6.8% by year‑end.

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