The average 30-year fixed purchase mortgage rate is 6.54% on Monday, August 17, 2026, according to rates from the Zillow lender marketplace. That is 5 basis points lower than the 30-year refinance rate of 6.59%. Mortgage rates today are slightly lower for home buyers than for people refinancing their loans.
The average 15-year fixed purchase mortgage rate is 5.86% today. This is 2 basis points lower than the 15-year refinance rate of 5.88%, according to Zillow data cited by Yahoo Finance. The 5/1 adjustable-rate mortgage (ARM) is also cheaper for buyers than refinancers. The average 5/1 ARM purchase rate is 6.24%, compared with 6.44% for refinancing, a difference of 20 basis points, according to Zillow. A 15-year loan has a lower interest rate than a 30-year loan, according to Yahoo Finance. The biggest benefit is that the borrower pays off the mortgage 15 years earlier. Earlier reporting noted: Mortgage rates today: 30-year rate at 6.54%, refinance rates and latest data Mortgage rates are mostly lower than last week, according to the latest data from Zillow’s lender marketplace. The 30-year fixed mortgage rate is 6.54%, up 3 basis points from last week. The 15-year fixed mortgage rate is 5.86%, down 15 basis points. The 5/1 adjustable-rate mortgage (ARM) is 6.24%, down 13 basis points. Earlier reporting noted: Today’s mortgage rates: August 16, 2026 Today’s mortgage rates: August 16, 2026 Earlier reporting noted: Here are the latest mortgage rates for Sunday, August 16, according to Zillow:
These are national average rates and are rounded to the nearest hundredth, according to Yahoo Finance. The rates can change based on the type of loan, borrower profile and market conditions, according to Yahoo Finance. These are national average rates, rounded to the nearest hundredth, according to Zillow data.
Refinance rates are often higher than purchase mortgage rates, but this does not happen every time. This also means there are fewer years for interest to build up. Mortgage refinance rates are slightly different today.
How to get a lower mortgage rate
For example, with a 2-1 buydown on a 6.25% mortgage, the rate could start at 4.25% in the first year, rise to 5.25% in the second year, and then return to 6.25% for the rest of the loan, according to Yahoo Finance. Another option is to buy down the mortgage rate by paying discount points at closing. This means paying more upfront in exchange for a lower interest rate. Borrowers can also consider a temporary rate buydown.
