Mortgage rates remain largely unchanged compared with last weekend, reflecting an extended period of stability. According to Zillow, national average mortgage rates have shown little movement, keeping both buyers and refinancers in a calm rate environment.
As of today, the average 30-year fixed mortgage rate stands at 6.01%, while the average 15-year fixed rate is 5.44%. These figures represent national averages and are rounded to the nearest hundredth.
Current Mortgage Rates
Below are today’s average mortgage rates based on the latest Zillow data. These rates reflect national averages and may vary depending on location and borrower qualifications.
| Loan Type | Interest Rate |
|---|---|
| 30-year fixed | 6.01% |
| 20-year fixed | 5.95% |
| 15-year fixed | 5.44% |
| 5/1 ARM | 6.23% |
| 7/1 ARM | 6.51% |
| 30-year VA | 5.52% |
| 15-year VA | 5.14% |
| 5/1 VA | 5.22% |
Current Mortgage Refinance Rates
Mortgage refinance rates are often slightly higher than purchase rates, though this is not always the case. The following refinance rates are also national averages rounded to the nearest hundredth.
| Loan Type | Interest Rate |
|---|---|
| 30-year fixed | 6.16% |
| 20-year fixed | 5.97% |
| 15-year fixed | 5.61% |
| 5/1 ARM | 6.32% |
| 7/1 ARM | 6.56% |
| 30-year VA | 5.74% |
| 15-year VA | 5.44% |
| 5/1 VA | 5.40% |
30-Year vs. 15-Year Fixed Mortgage Rates
The 30-year fixed mortgage remains the most popular option. With a 6.01% rate, borrowers benefit from lower monthly payments spread across 360 months.
The 15-year fixed mortgage carries a lower average rate of 5.44%. While monthly payments are higher, borrowers pay off their loans faster and reduce the total amount of interest paid over time.
For example, a $300,000 mortgage at 6.01% on a 30-year term results in a monthly principal-and-interest payment of about $1,800 and total interest of $348,209 over the life of the loan. With a 15-year term at 5.44%, the monthly payment rises to about $2,442, but total interest drops to $139,508.
Fixed-Rate vs. Adjustable-Rate Mortgages
A fixed-rate mortgage keeps the same interest rate for the entire loan term unless the borrower refinances. An adjustable-rate mortgage, by contrast, locks the rate for an initial period before adjusting annually based on market conditions and contract limits.
Adjustable-rate mortgages often begin with lower rates, but rates can rise after the introductory period ends. Recently, some fixed rates have started lower than adjustable rates, making lender comparisons especially important.
How to Get a Lower Mortgage Rate
Mortgage lenders typically reserve the lowest rates for borrowers with higher down payments, strong credit scores, and low debt-to-income ratios. Improving credit, saving more, or reducing existing debt may help secure a better rate.
Waiting for rates to fall may not be the most effective strategy. Focusing on personal financial readiness can be a more reliable way to obtain favorable loan terms.
How to Choose a Mortgage Lender
Applying for preapproval with three or four lenders can help borrowers compare offers accurately. Submitting applications within a short time frame minimizes the impact on credit scores.
When comparing lenders, it is important to review the annual percentage rate (APR). The APR reflects the total annual cost of borrowing, including interest, fees, and discount points, and provides a clearer comparison than interest rates alone.
Rate Outlook
According to recent forecasts, the 30-year mortgage rate is expected to remain above 6% through much of 2026. Projections suggest rates may dip closer to 5.9% by the fourth quarter of 2026.
Current Rate Snapshot
| Loan Type | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed | 6.01% – 6.26% | 6.03% – 6.70% |
| 15-Year Fixed | 5.44% – 5.59% | 5.48% – 5.61% |
| 5/1 ARM | 6.23% – 6.45% | Varies |
| 30-Year FHA | 6.12% | 6.86% |
| 30-Year VA | 5.52% | 5.61% |
FAQs
Are mortgage rates changing right now?
Mortgage rates are largely unchanged and remain in a holding pattern compared with recent weeks.
Why are refinance rates often higher?
Refinance rates are frequently higher than purchase rates, though this is not always the case.
Which mortgage term has lower interest?
The 15-year fixed mortgage typically has a lower interest rate than the 30-year fixed mortgage.
Do national averages reflect local rates?
National averages may differ from local rates, which can be higher in expensive areas and lower in less costly regions.
Will mortgage rates drop in 2026?
Forecasts suggest rates may stay above 6% through most of 2026, with a possible dip later in the year.
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