According to rates from the Zillow lender marketplace cited by Yahoo Finance, mortgage rates were described as mostly lower compared with last week, while several key averages moved higher. The current 30-year fixed rate rose by 24.1 basis points to 6.696%, the 15-year fixed rate increased by 9.6 basis points to 6.036%, and the 5/1 ARM climbed by 41.4 basis points to 6.637%. A basis point equals one-hundredth of a percentage point, so even small weekly changes can affect monthly payments on larger loan balances.

Mortgage rates today

The following are current mortgage rates for Sunday, July 26, 2026, according to the latest Zillow data. The figures are national averages and are rounded to the nearest hundredth:

• 30-year fixed: 6.696%
• 20-year fixed: 6.705%
• 15-year fixed: 6.036%
• 5/1 ARM: 6.637%
• 7/1 ARM: 6.59%
• 30-year VA: 6.103%
• 15-year VA: 5.773%
• 5/1 VA: 6.913%

National averages provide a benchmark, but an individual borrower’s quote can vary by lender, location, loan size, credit profile, down payment, and whether the borrower pays discount points.

Mortgage refinance rates today

The following are mortgage refinance rates for Sunday, July 26, 2026, based on the latest Zillow data. These figures are also national averages rounded to the nearest hundredth:

• 30-year fixed: 6.617%
• 20-year fixed: 6.66%
• 15-year fixed: 5.978%
• 5/1 ARM: 6.36%
• 7/1 ARM: 6.474%
• 30-year VA: 6.17%
• 15-year VA: 5.719%
• 5/1 VA: 5.794%

Mortgage refinance rates are often higher than purchase mortgage rates, although that is not always the case. For homeowners considering a refinance, the rate is only one part of the calculation because closing costs, loan term changes, and the length of time the borrower expects to keep the mortgage can affect whether refinancing reduces total costs.

Monthly mortgage payment calculator

Yahoo Finance said borrowers can use a mortgage calculator to estimate how different mortgage terms and interest rates may affect monthly payments. The Yahoo Finance mortgage payment calculator also accounts for factors such as property taxes and homeowners insurance when estimating a monthly mortgage payment, providing a broader view of total monthly housing costs than principal and interest alone.

That broader view matters because property taxes, insurance premiums, homeowners association dues, and mortgage insurance, when applicable, can materially change the amount a borrower pays each month even when the principal-and-interest payment is unchanged.

30-year and 15-year fixed mortgage rates

The average 30-year mortgage rate today is 6.696%. A 30-year term is the most popular type of mortgage because spreading payments over 360 months generally produces a lower monthly payment than a shorter-term loan.

The average 15-year mortgage rate today is 6.036%. When comparing a 15-year mortgage with a 30-year mortgage, borrowers typically consider both short-term payment needs and long-term borrowing costs.

A 15-year mortgage usually carries a lower interest rate than a 30-year mortgage. It also allows the borrower to repay the loan 15 years sooner, reducing the number of years in which interest can accumulate. The trade-off is a higher monthly payment because the same loan amount is paid off in half the time.

For example, on a $300,000 mortgage with a 30-year term and a 6.41% rate, the monthly principal-and-interest payment would be about $1,878.48. Over the life of the loan, the borrower would pay $376,254 in interest in addition to the original $300,000 principal.

For the same $300,000 mortgage with a 15-year term and a 5.80% rate, the monthly payment would increase to $2,499.27. Total interest over the life of the loan would be $149,869.

Fixed-rate and adjustable-rate mortgages

With a fixed-rate mortgage, the interest rate is locked in for the full life of the loan. A borrower would receive a new rate only by refinancing the mortgage.

An adjustable-rate mortgage keeps the interest rate unchanged for a predetermined period. After that period, the rate may rise or fall depending on factors such as the economy and the maximum amount the rate is allowed to change under the loan contract. For example, with a 7/1 ARM, the rate is fixed for the first seven years and then adjusts each year for the remaining 23 years of the term.

Adjustable rates typically begin lower than fixed rates, but the rate may increase after the initial fixed period ends. Recently, however, some fixed rates have been starting lower than adjustable rates. Borrowers can compare lender-specific offers before choosing between fixed-rate and adjustable-rate options. For ARMs, the loan’s adjustment caps and index are important terms to review because they determine how much the rate can change after the introductory period.

How borrowers may qualify for a lower mortgage rate

Mortgage lenders typically reserve their lowest rates for borrowers with larger down payments, excellent credit scores, and low debt-to-income ratios. Borrowers seeking a lower rate may focus on saving more for a down payment, improving their credit score, or reducing debt before shopping for a home.

Yahoo Finance said waiting for rates to fall is probably not the best method for obtaining the lowest mortgage rate right now. For borrowers who are ready to buy, focusing on personal finances is likely the best way to reduce the rate offered.

How to choose a mortgage lender

To find a mortgage lender suited to a borrower’s situation, Yahoo Finance said applicants can seek mortgage preapproval from three or four companies. Applying to each lender within a short period can produce more accurate comparisons and may reduce the impact on the borrower’s credit score.

When evaluating lenders, borrowers should compare more than interest rates. The mortgage annual percentage rate, or APR, includes the interest rate, discount points, and fees. Expressed as a percentage, APR reflects the true annual cost of borrowing money and is one of the most important figures for comparing mortgage lenders.

Borrowers can also ask each lender for the same loan scenario, including the same loan amount, down payment, rate-lock period, and points, to make offers easier to compare.

Current mortgage rates: FAQs

What are mortgage interest rates doing right now?

According to the Zillow lender marketplace, the current 30-year fixed rate today, Sunday, July 25, 2026, rose by 24.1 basis points to 6.696%. The 15-year fixed rate rose by 9.6 basis points to 6.036%, and the 5/1 ARM rose by 41.4 basis points to 6.637%.

What is a good mortgage rate right now?

The average 30-year fixed mortgage rate is 6.696% right now, according to Zillow. Borrowers may qualify for a better rate with an excellent credit score, a sizable down payment, and a low debt-to-income ratio, or DTI.

Are mortgage rates expected to drop?

According to the latest forecasts cited by Yahoo Finance, the MBA expects the 30-year mortgage rate to be between 6.4% and 6.5% through 2026. Fannie Mae predicts a 30-year rate of 6.4% through the end of the year.

Is now a good time to refinance your mortgage?

Mortgage rates are down more than half a point since the end of last May, leading to a more than 62% year-over-year increase in refinance applications. Yahoo Finance framed the question as whether that makes now a good time to refinance a mortgage following the Fed rate pause.

What should borrowers know about refinancing before the end of 2026?

Yahoo Finance said mortgage rates are down and that refinancing soon could be a good idea for some borrowers. It said homeowners who want to refinance a mortgage loan in early 2026 should review what they need to know before proceeding.

What can buyers, renters, and homeowners expect from the 2026 housing market?

The housing market outlook cited by Yahoo Finance for next year includes marginally lower mortgage rates and cooling home prices. The article said buyers, renters, and homeowners can learn what to expect in 2026 and how to prepare.

Are lower loan interest rates coming in 2026?

Yahoo Finance said experts have considered whether loan interest rates are likely to rise or fall in 2026 and how upcoming economic shifts could affect borrowers.

What refinance options are available?

There are several types of mortgage refinance options, including cash-out refinancing and no-closing-cost refinancing. Yahoo Finance said borrowers can compare refinance types based on their financial goals.

What is Zillow Home Loans?

Zillow Home Loans is not only a marketplace; it is also a mortgage lender. It offers conventional, FHA, and VA loans, among other mortgage products.