U.S. Mortgage Rates Climb Modestly on September 17, 2026, as Fixed-Range Costs Rise

According to data from the Zillow lender marketplace, fixed mortgage rates are higher today, Thursday, September 17, 2026, compared with yesterday. The 30-year fixed-rate purchase loan increased by 1 basis point to 7.01%; the 15-year fixed purchase loan rose 8 basis points to 6.44%; and the 5/1 ARM purchase rate declined 13 basis points to 7.08%.

Today’s mortgage rates

Below are the current purchase mortgage rates for today, Thursday, September 17, 2026, based on the latest Zillow data:

• 30-year fixed: 7.01%

• 20-year fixed: 7.00%

• 15-year fixed: 6.44%

• 5/1 ARM: 7.08%

• 7/1 ARM: 6.74%

• 30-year VA: 6.46%

• 15-year VA: 5.95%

• 5/1 VA: 6.30%

These figures represent national averages and are rounded to the nearest hundredth.

Today’s mortgage refinance rates

Below are the current refinance mortgage rates for today, Thursday, September 17, 2026, according to the latest Zillow data:

• 30-year fixed: 7.00%

• 20-year fixed: 6.76%

• 15-year fixed: 6.42%

• 5/1 ARM: 7.14%

• 7/1 ARM: 6.76%

• 30-year VA: 6.62%

• 15-year VA: 6.15%

• 5/1 VA: 5.88%

As with purchase mortgage rates, these are national averages rounded to the nearest hundredth. Refinance rates can sometimes exceed purchase mortgage rates, though this is not always the case.

Monthly mortgage payment calculator

The mortgage calculator below illustrates how various mortgage rates can affect your monthly payments.

Payment breakdown Amortization

Mortgage payment calculator

Mortgage payment breakdown

82% Principal & interest

$2,290 Taxes, insurance, HOA fees

0% Private mortgage insurance

You can bookmark the Yahoo Finance mortgage payment calculator for future reference as you compare homes and lenders. Use the dropdown to factor in private mortgage insurance costs and HOA dues where applicable. Combined with your principal and interest, these monthly expenses provide a realistic picture of what your total monthly payment could look like.

How do mortgage rates work?

A mortgage interest rate is the cost charged by a lender for borrowing funds, expressed as a percentage. Mortgage rates generally come in two forms: fixed and adjustable.

A fixed-rate mortgage locks in your interest rate for the entire duration of the loan. For instance, if you secure a 30-year mortgage at 6%, your rate will remain at 6% for the full 30 years — unless you refinance or sell the property.

An adjustable-rate mortgage holds your rate steady for an initial period before adjusting at regular intervals. With a 5/1 ARM featuring an introductory rate of 6%, for example, your rate would stay at 6% for the first five years, then reset annually for the remaining 25 years of the term. Whether the rate rises or falls depends on factors such as broader economic conditions and the U.S. housing market.

Early in your mortgage term, the majority of each monthly payment goes toward interest. Over time, the share allocated to interest decreases while the portion applied to principal — the amount you originally borrowed — increases.

How are mortgage rates determined?

Mortgage rates are shaped by two broad categories of factors: those within your control and those beyond it.

Among the factors you can influence, shopping competitively across lenders is key — comparing offers to find the most favorable combination of rate and fees.

Lenders also tend to offer lower rates to borrowers with stronger credit profiles, lower debt-to-income (DTI) ratios, and larger down payments. Improving your credit score, reducing debt, or saving for a bigger down payment before applying can result in a more competitive interest rate.

Among the factors you cannot control, the economy plays the most significant role. When the economy struggles — for example, amid rising unemployment — mortgage rates typically fall to encourage borrowing and stimulate economic activity. Conversely, when the economy is robust, rates tend to rise to moderate spending and curb inflation.

All else being equal, refinance rates are generally slightly higher than purchase rates, so it should come as no surprise if your refinance quote is higher than expected.

30-year vs. 15-year fixed mortgage rates

Two of the most popular mortgage terms are the 30-year and 15-year fixed-rate options. Both guarantee a locked-in rate for the full loan term.

The 30-year mortgage remains widely favored due to its relatively modest monthly payments. However, it carries a higher interest rate than shorter terms, and because interest accrues over three decades, borrowers end up paying significantly more over the life of the loan.

The 15-year mortgage, by contrast, offers a lower interest rate, meaning less total interest paid over time, and the loan is paid off in half the period. The trade-off is a noticeably higher monthly payment, since the same principal is being repaid in a shorter timeframe.

In essence, 30-year mortgages offer greater month-to-month affordability, while 15-year mortgages deliver long-term savings.

Current mortgage rates: FAQs

What bank is offering the lowest mortgage rates?

According to Yahoo Finance’s weekly survey of lenders, some of the institutions with the lowest median mortgage rates include Chase and Citibank, among others. That said, it is advisable to shop around broadly — considering not only banks but also credit unions and specialized mortgage lenders — to find the best available rate.

Is 2.75% a good mortgage rate?

Yes, 2.75% is an exceptionally favorable mortgage rate. Achieving this rate in today’s market is unlikely unless you obtain an assumable mortgage from a seller who locked in that rate during 2020 or 2021, when rates reached historic lows.

What is the lowest-ever mortgage rate?

According to Freddie Mac, the lowest-ever 30-year fixed mortgage rate was 2.65%, recorded as the national average in January 2021. It is highly unlikely that rates will fall below 3% again in the near future.

At what rate should you refinance your mortgage?

Some financial experts recommend refinancing when you can secure a rate at least 2% below your current mortgage rate, while others consider a 1% reduction the threshold for a worthwhile refinance. Ultimately, the decision depends on your financial goals, how long you plan to remain in the home, and your break-even point after accounting for refinance closing costs.

Source link