According to the Zillow lender marketplace, mortgage rates showed mixed movement today. The average 30-year fixed-rate mortgage increased by 3 basis points to 6.52% on Friday, July 17, 2026, while the 15-year fixed rate declined by 1 basis point to 5.95%. The average 5/1 ARM rose by 1 basis point to 6.75%.
Current mortgage rates
Zillow data for Friday, July 17, 2026 reveals the following purchase rates:
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30-year fixed: 6.52%
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20-year fixed: 6.31%
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15-year fixed: 5.95%
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5/1 ARM: 6.75%
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7/1 ARM: 6.26%
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30-year VA: 5.90%
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15-year VA: 5.71%
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5/1 VA: 5.83%
These figures represent national averages rounded to two decimal places.
Current mortgage refinance rates
Zillow’s latest refinance rates for Friday, July 17, 2026 include:
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30-year fixed: 6.50%
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20-year fixed: 6.42%
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15-year fixed: 5.88%
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5/1 ARM: 6.61%
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7/1 ARM: 6.35%
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30-year VA: 5.91%
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15-year VA: 5.53%
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5/1 VA: 5.77%
These national averages, rounded to two decimal places, may exceed purchase rates in certain scenarios.
Free mortgage calculator
Your mortgage rate significantly impacts monthly payment amounts. Use this mortgage calculator to explore how loan amount, interest rate, and term length affect your payments:
Payment breakdown Amortization
Mortgage payment calculator
Mortgage payment breakdown
81% Principal & interest
$2,145
0% Private mortgage insurance
Bookmark the Yahoo Finance mortgage payment calculator for future reference when shopping for homes and lenders.
How mortgage interest rates work
Mortgage interest rates represent the fee for borrowing funds from lenders, expressed as a percentage. Two primary rate types exist: fixed and adjustable.
Fixed-rate mortgages lock in rates for the entire loan term. For instance, a 30-year fixed mortgage at 6% remains unchanged for 30 years unless refinanced or sold.
Adjustable-rate mortgages (ARMs) fix rates for an initial period before adjusting periodically. A 7/1 ARM with a 6% introductory rate would maintain 6% for seven years, then adjust annually for the remaining 23 years based on economic and market conditions.
Early in a mortgage term, most payments cover interest, with principal repayment increasing over time while the total monthly amount stays constant.
Selecting the right mortgage term length
<30-year fixed-rate mortgages offer predictable payments and lower monthly costs but accrue more interest over time compared to shorter terms.
15-year fixed mortgages accelerate equity accumulation and reduce total interest expenses, though requiring higher monthly payments. Borrowers must balance payment capacity against long-term savings.
ARMs suit buyers planning to sell before initial fixed periods expire, as starting rates are often lower than fixed alternatives. However, comparing full term rates and lenders is essential given recent ARM alignment with 30-year fixed rates.
Trend analysis: Are mortgage rates declining?
Movement varies: The 30-year fixed rate increased 3 basis points to 6.52%, while the 15-year fixed rate decreased 1 basis point to 5.95% on July 17, with the 5/1 ARM rising to 6.75%.
Mortgage interest rates today: FAQs
What are mortgage interest rates doing today?
Freddie Mac reports average 30-year mortgage rates at 6.55% through Wednesday, rising from 6.49% the prior week, compared to 6.75% a year earlier.
How low will mortgage rates go in 2026?
Industry forecasts project 30-year rates between 6.4%-6.5% in 2026, with MBA forecasting 6.4% and Fannie Mae predicting 6.4% year-end rates.
How low could mortgage rates go by 2027?
MBA forecasts 30-year fixed rates at 6.5% throughout 2027, while Fannie Mae projects 6.3%-6.4% range for the same period.
