Fixed mortgage rates moved higher over the past week, according to data from the Zillow lender marketplace. The 30-year fixed rate rose 18 basis points to 6.55%, the 15-year fixed rate increased by 3 basis points to 5.91%, and the 5/1 ARM fell 48 basis points to 6.26%. Even small weekly moves like these matter for homebuyers: on a typical loan, basis-point differences translate into hundreds of dollars in monthly payment changes and thousands of dollars in interest over the life of a loan. The weekly rise also comes amid a broader backdrop in which mortgage rates have fallen more than half a point since the end of last May, following the Federal Reserve's rate pause — a shift that has already fueled a more than 62% year-over-year increase in refinance applications.

Today's Mortgage Rates

The current mortgage rates for Sunday, August 30, 2026, according to the latest Zillow data, are as follows. These figures are national averages rounded to the nearest hundredth:

• 30-year fixed: 6.55%
• 20-year fixed: 6.46%
• 15-year fixed: 5.91%
• 5/1 ARM: 6.26%
• 7/1 ARM: 6.11%
• 30-year VA: 6.11%
• 15-year VA: 5.91%
• 5/1 VA: 6.02%

Today's Mortgage Refinance Rates

Today's mortgage refinance rates, also from the latest Zillow data and rounded to the nearest hundredth as national averages:

• 30-year fixed: 6.51%
• 20-year fixed: 6.48%
• 15-year fixed: 5.89%
• 5/1 ARM: 6.19%
• 7/1 ARM: 6.41%
• 30-year VA: 6.07%
• 15-year VA: 5.58%
• 5/1 VA: 5.58%

Refinance rates are often higher than purchase rates, although that is not always the case. For homeowners weighing a refinance, comparing today's refinance rate against the rate on their existing loan is the key starting point, since the benefit of refinancing depends on how much the new rate differs from the current one.

Monthly Mortgage Payment Calculator

A mortgage calculator can show how various loan terms and interest rates affect monthly payments. The Yahoo Finance mortgage payment calculator also factors in property taxes and homeowners insurance, giving a more realistic picture of the total monthly payment than looking at principal and interest alone.

30-Year vs. 15-Year Fixed Mortgage Rates

The average 30-year mortgage rate today is 6.55%. The 30-year term is the most popular type of mortgage because spreading payments over 360 months results in a lower monthly payment than a shorter-term loan.

The average 15-year mortgage rate today is 5.91%. When weighing a 15-year versus a 30-year mortgage, borrowers should consider their short-term versus long-term goals. A 15-year mortgage carries a lower interest rate, and the loan is paid off 15 years sooner, meaning 15 fewer years for interest to accumulate. The trade-off is a higher monthly payment, since the same amount is repaid in half the time.

For example, on a $300,000 mortgage with a 30-year term at a 6.41% rate, the monthly principal-and-interest payment would be about $1,878.48, with $376,254 in interest paid over the life of the loan — on top of the original $300,000. The same $300,000 mortgage with a 15-year term at a 5.80% rate would carry a monthly payment of $2,499.27, but only $149,869 in total interest.

Fixed-Rate vs. Adjustable-Rate Mortgages

With a fixed-rate mortgage, the rate is locked in for the entire life of the loan, unless the borrower refinances. An adjustable-rate mortgage keeps the rate fixed for a predetermined period, after which it can move up or down depending on factors such as the economy and the maximum rate change allowed under the contract. With a 7/1 ARM, for example, the rate is locked for the first seven years and then changes every year for the remaining 23 years of the term.

Adjustable rates typically start lower than fixed rates, though once the initial rate-lock period ends the rate may increase. Recently, however, some fixed rates have been starting lower than adjustable rates — as today's pricing shows, with the 5/1 ARM (6.26%) quoted below the 30-year fixed (6.55%). Borrowers should discuss rates with their lender before choosing between the two.

How to Get a Low Mortgage Rate

The best mortgage lenders typically offer the lowest rates to borrowers with larger down payments, excellent credit scores, and low debt-to-income ratios. Saving more, improving a credit score, or paying down debt before house hunting can help secure a lower rate. Waiting for rates to drop is generally not the most effective approach; for those ready to buy, focusing on personal finances is usually the better path to a lower rate.

How to Choose a Mortgage Lender

To find the best mortgage lender for a given situation, borrowers can apply for mortgage preapproval with three or four companies, ideally within a short time frame. This produces the most accurate comparisons and has less impact on credit scores.

When comparing lenders, interest rates alone are not enough. The mortgage annual percentage rate (APR) factors in the interest rate, any discount points, and fees, reflecting the true annual cost of borrowing. The APR is widely considered the most important figure when comparing mortgage lenders.

Current Mortgage Rates: FAQs

What are mortgage interest rates doing right now?

According to the Zillow lender marketplace, fixed mortgage rates are higher than last week. The 30-year fixed rate rose 18 basis points to 6.55%, the 15-year fixed rate increased by 3 basis points to 5.91%, and the 5/1 ARM fell 48 basis points to 6.26%.

What's a good mortgage rate right now?

The average 30-year fixed mortgage rate is 6.55%, according to Zillow. Borrowers with excellent credit scores, sizable down payments, and low debt-to-income ratios may qualify for better rates.

Are mortgage rates expected to drop?

According to the latest forecasts, the Mortgage Bankers Association (MBA) expects the 30-year mortgage rate to average between 6.6% and 6.7% through the rest of 2026. Fannie Mae predicts a 30-year rate between 6.7% and 6.8% through the end of the year.

Is now a good time to refinance a mortgage?

Mortgage rates have fallen more than half a point since the end of last May, contributing to a more than 62% year-over-year increase in refinance applications, following the Federal Reserve's rate pause.

Is now a good time to get a VA loan?

With today's high mortgage rates and home prices, VA loans offer a lower rate with no down payment required.

What refinance options exist?

Home refinance options include cash-out refinances, no-closing-cost refinances, and several others, depending on the borrower's financial goals.

What is the housing market outlook for 2026?

The housing market outlook for the year includes marginally lower mortgage rates and cooling home prices.

What is Zillow Home Loans?

Zillow Home Loans is not only a marketplace but also a mortgage lender offering conventional, FHA, and VA loans, among other products.