Today’s average interest rate on a 30-year purchase mortgage is 6.828%, which is essentially unchanged from yesterday’s reading of 6.826%, according to Zillow data provided to U.S. News. For refinancing mortgages, today’s 30-year rate is 6.908%, and the current 15-year rate is 5.922%.
Interest rates on home loans have risen since the beginning of the U.S. war in Iran in late February. Any time the war shows signs of resurgence, mortgage rates tend to inch higher alongside 10-year U.S. Treasury notes, their key benchmark. When the conflict comes closer to a resolution — or at least, when the conflict seems like it’s coming closer to a resolution — mortgage rates and bond yields decline.
The bond market that moves mortgage rates is particularly price-sensitive. The Middle East conflict put upward pressure on oil prices, which can make other items more expensive to manufacture and transport. Put simply, higher oil prices mean higher inflation — and higher inflation means higher interest rates.
July’s consumer price index report showed inflation running at a pace of 3.4% annually, mostly kept elevated by high energy costs as the war in Iran drives up the cost of oil. However, last month’s CPI report was in line with expectations, and the bond yields that influence mortgage rates weren’t greatly affected.
Inflation has been a target of Federal Reserve policymakers, who held rates steady as widely expected at the central bank’s July meeting. However, three policymakers voted for a quarter-point rate hike, compared with June’s unanimous vote to leave rates unchanged. With inflation above the Fed’s 2% target, it’s likely that the central bank will raise rates in the coming months.
The Fed, which doesn’t directly set mortgage rates but does set monetary policy that influences rate trends, has a dual mandate of price stability and maximum employment. July’s jobs report shed light on the latter half of that mandate when it showed much fewer jobs were created for the month than expected. That could take some pressure off the Fed to raise rates, along with July’s CPI report, which showed a slower pace of monthly inflation despite stubbornly high yearly price gains.
“Importantly, regardless of Fed action, mortgage rates are unlikely to fall meaningfully until inflation cools and long-term yields move decisively lower.”
— Selma Hepp, chief economist for the real estate analytics provider Cotality
Most experts expect mortgage rates to stay relatively elevated over the next few years, stuck above 6% for the 30-year fixed term. Although there’s always the chance that something unexpected could happen in the U.S. economy that could send rates tumbling lower, it’s unlikely that rates will fall below 3% or even 4% in the foreseeable future.
[Read: Best Mortgage Lenders]
Current Mortgage Purchase Rates
Here are today’s interest rates for conforming purchase mortgages by loan term:
— 30-year fixed: 6.828%
— 20-year fixed: 6.756%
— 15-year fixed: 5.972%
— 10-year fixed: 6.0%
— 7-year ARM: 6.907%
— 5-year ARM: 6.292%
— 3-year ARM: 8.25%
And here are the current government-backed and nonconforming mortgage rates by loan type:
— Jumbo: 6.618%
— VA: 6.04%
— FHA: 5.99%
Current Mortgage Refinance Rates
Here are today’s mortgage refinance rates:
— 30-year fixed refi: 6.908%
— 20-year fixed refi: 6.872%
— 15-year fixed refi: 5.922%
— 10-year fixed refi: 5.872%
Mortgage refinance rates tend to follow the same trends as mortgage purchase rates, although interest rates on a mortgage refinance are often a few basis points higher than on purchase mortgages.
[Read: Best Mortgage Refinance Lenders.]
Mortgage Rate Trends in 2026 So Far
Freddie Mac collects weekly mortgage rate data, which can help provide context for mortgage borrowers on how and why mortgage rates change over time. Since the mortgage giant began collecting data in 1971, the median mortgage rate is 7.23%.
The 30-year fixed rate fell to a historic low of 2.65% in January 2021, driving up demand for purchase and refinance mortgages. Since then, mortgage rates rose to nearly 8% in October 2023 before coming down to around 6.5% currently. Still, that’s nothing compared with the record high of 18.63% recorded in 1981.
[Calculate Mortgage Refinance Calculator]
Mortgage Monthly Payment Calculator
Your mortgage interest rate is just one aspect of your monthly housing payment. You’ll need to carefully consider how your home’s purchase price will impact your budget so you don’t buy more house than you can comfortably afford.
The mortgage term — or the length of your loan — will also significantly influence your monthly payments. Most borrowers opt for a 30-year fixed mortgage, which can keep monthly payments affordable because they are spread over a long repayment term. But if you can afford the higher monthly payments of a 15-year mortgage, it can save you tens of thousands of dollars in interest payments over time.
You’ll also need to consider property taxes, home insurance, homeowners association fees and private mortgage insurance, if applicable. You can use the calculator below to run the numbers for your financial situation.
How to Shop for a Mortgage
The mortgage rates we display on this page are national averages from lenders as provided to U.S. News by Zillow, not necessarily the exact rate you’ll receive. Mortgage rates fluctuate throughout the day, and some lenders may be able to offer more favorable pricing for your situation than others.
“As rates fluctuate, aspiring buyers should remember that by shopping around for the best mortgage rate and getting multiple quotes, they can potentially save thousands,” says Sam Khater, chief economist at Freddie Mac, in a statement.
Here are a few tips to help you shop for the lowest mortgage rate possible for your financial situation:
— Get your finances in order. Collect the documents you’ll need to apply for a mortgage using this handy checklist. You should also check your credit score and get a copy of your credit report to see where you stand.
— Apply through three to five lenders. Be sure to consider different loan types (such as FHA versus conventional) as well as different types of lenders (like online lenders versus credit unions). Keep your rate shopping to a two-week window to minimize the negative impact to your credit score.
— Compare loan estimates. This document will outline the loan’s costs, including origination charges, lender credits, discount points, as well as the loan’s interest rate and annual percentage rate, or APR. The APR includes the interest rate as well as any fees, making it a holistic way to compare the cost of multiple loan offers.
Check out this sample loan estimate from the Consumer Financial Protection Bureau to get a better idea of what to expect when comparing loan offers.
More from U.S. News
Mortgage Rate Forecast: Predictions for the Housing Market Through 2028
Historical Mortgage Rates: See Averages and Trends by Decade
What Today’s Fed Decision Means for Mortgage Rates
Today’s Mortgage Rates Flat, Refi Rates Decline: Aug. 25, 2026 originally appeared on usnews.com
Today’s Mortgage Rates Flat, Refi Rates Decline: Aug. 25, 2026 2026
IUSTITIA.BG – Investigations 2009-2026 2026-08-25 14:57:21
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