According to Zillow’s lender marketplace, refinance mortgage rates are generally lower than purchase rates as of Monday, September 21, 2026.
Today, the 30‑year fixed purchase rate stands at 7.04%, three basis points above the refinance rate. The 20‑year fixed purchase rate is 6.82%, also three basis points higher than its refinance counterpart. Meanwhile, the 5/1 ARM purchase rate equals the refinance rate at 7.04%.
Today’s mortgage rates
Here are the current mortgage rates for Monday, September 21, 2026, based on the latest Zillow data:
-
30-year fixed: 7.04%
-
20-year fixed: 6.82%
-
15-year fixed: 6.56%
-
5/1 ARM: 7.04%
-
7/1 ARM: 6.51%
-
30-year VA: 6.48%
-
15-year VA: 6.12%
-
5/1 VA: 6.34%
Remember, these figures represent national averages rounded to the nearest hundredth.
Today’s mortgage refinance rates
These are today’s refinance rates for Monday, September 21, 2026, according to the latest Zillow data:
-
30-year fixed: 7.01%
-
20-year fixed: 6.78%
-
15-year fixed: 6.42%
-
5/1 ARM: 7.04%
-
7/1 ARM: 6.67%
-
30-year VA: 6.69%
-
15-year VA: 6.73%
-
5/1 VA: 5.84%
Again, these numbers are national averages rounded to the nearest hundredth. While refinance rates tend to be higher than purchase rates, this is not always true.
Mortgage payment calculator
You can use the free Yahoo Finance mortgage calculator below to explore how different terms and rates impact your monthly payment. The tool factors in property taxes and homeowners insurance, providing a more complete picture of your total payment than principal and interest alone.
Payment breakdown Amortization
Mortgage payment calculator
Mortgage payment breakdown
82% Principal & interest
$2,283
0% Private mortgage insurance
You can bookmark the Yahoo Finance mortgage payment calculator for easy access when shopping for homes and comparing lenders.
30-year mortgage rates today
Today’s average 30‑year purchase mortgage rate is 7.04%. The 30‑year term remains the most popular mortgage option, as spreading payments over 360 months keeps the monthly payment relatively low.
For example, a $300,000 loan with a 30‑year term at a 6.70% rate would result in a monthly principal‑and‑interest payment of roughly $1,935.04, with total interest paid over the life of the loan amounting to about $396,614.
To illustrate, at 6.70% over 360 months on a $300,000 balance, the monthly principal‑and‑interest payment is $1,935.04, total payments reach approximately $696,614, and total interest equals roughly $396,614.
15-year mortgage rates today
Today’s average 15‑year purchase mortgage rate is 6.56%. Choosing between a 15‑year and a 30‑year loan involves several considerations.
A 15‑year mortgage typically carries a lower interest rate than a 30‑year loan, which means you pay off the balance 15 years earlier and reduce the time interest has to compound.
However, monthly payments are higher because the same debt is amortized over half the period.
For instance, a $300,000 loan over 15 years at a 6.04% rate would require a monthly payment of about $2,537.41, yet total interest paid would be only $156,734 — a significant saving compared with the 30‑year alternative.
Adjustable mortgage rates
With an adjustable‑rate mortgage (ARM), the interest rate is fixed for an initial period and then adjusts at regular intervals. For example, a 5/1 ARM holds the rate steady for the first five years before adjusting annually.
ARM rates often begin lower than fixed rates, but there is a risk that the rate will increase after the initial lock‑period expires. However, an ARM can be advantageous if you intend to sell the property before the lock‑period ends, allowing you to benefit from the lower initial rate without exposure to future increases.
Recently, ARM rates have occasionally matched or exceeded fixed rates. Before choosing between a fixed or adjustable mortgage, compare offers from multiple lenders, as some provide more competitive ARM terms than others.
How to get a low mortgage rate
Lenders generally reserve their lowest rates for borrowers who make larger down payments, have excellent credit scores, and maintain low debt‑to‑income ratios. To qualify for a better rate, consider saving for a larger down payment, boosting your credit score, or reducing existing debt before you begin house hunting.
Another option is to purchase discount points at closing to permanently lower your interest rate. A temporary buydown is also available; for instance, a 2‑1 buydown on a 6.25% rate would start at 4.25% in the first year, rise to 5.25% in the second year, and then settle at 6.25% for the remaining term.
Weigh whether the upfront cost of a buydown is justified by estimating how long you plan to stay in the home; the savings from a lower rate should outweigh the initial expense for the buydown to be worthwhile.
Mortgage rates today: FAQs
What are interest rates today?
Compared with the previous day’s data, the 30‑year fixed rate for Monday, September 21, 2026, slipped one basis point to 7.04%, the 20‑year fixed rate dropped ten basis points to 6.82%, and the 5/1 ARM also fell ten basis points to 7.04%.
What is a normal mortgage rate right now?
A typical 30‑year fixed mortgage rate is 7.04%, though this figure represents the national average from Zillow’s data. Zillow’s numbers often differ slightly from those published by Freddie Mac and other sources, as each provider uses its own methodology and reporting frequency. Zillow draws rates daily from its lender marketplace, whereas Freddie Mac averages weekly data from loan applications submitted to its underwriting system. Consequently, the average rate can vary by region and individual credit profile.
Will mortgage rates fall?
According to the latest forecasts, the Mortgage Bankers Association (MBA) projects the 30‑year mortgage 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% through year‑end.
