E-Paper
Mortgage rates today, August 26: 30-year rate at 6.53% — What homebuyers should know
Mortgage rates today, August 26, 2026: 30-year rates fall to 6.53%, while 15-year rates hit 5.94%. Check ARM, VA and refinance rates.
Prefer HTon Google
Mortgage rates in the US are lower on Wednesday, August 26, compared with Tuesday, according to the latest data from Zillow’s lender marketplace. The average 30-year fixed mortgage rate is 6.53% today, down 10 basis points from Tuesday, according to Zillow data.
The average 15-year fixed mortgage rate is 5.94%, up 1 basis point from yesterday, while the 5/1 adjustable-rate mortgage (ARM) is 6.56%, down 6 basis points.
Mortgage rates at a glance
For Wednesday, August 26, the main mortgage rates are:
- 30-year fixed: 6.53%
- 20-year fixed: 6.48%
- 15-year fixed: 5.94%
- 5/1 ARM: 6.56%
- 7/1 ARM: 6.26%
- 30-year VA: 6.17%
- 15-year VA: 5.73%
- 5/1 VA: 5.74%
These are national average rates from Zillow's lender marketplace, as reported by Yahoo Finance, and individual borrowers may receive different rates.
30-year fixed mortgage rate is 6.53%
With an average rate of 6.53% as per Zillow, the 30-year fixed mortgage is still a go to option for home buyers. It translates into a consistent interest rate for three decades.
As the loan is spread out for 30 years, monthly payments are less of a hassle, avoiding the burden on budgets due to short- term mortgages with heavy payments. However, borrowers usually pay more interest over the full life of the loan because they are making payments for 30 years.
Also read: US inflation rises to 3.7% in July: What it means for Fed rate cuts
20-year fixed mortgage rate: 6.48%
The average rate for a 20-year fixed mortgage is 6.48% on Wednesday, based on Zillow data. The rate remains locked for the entire term, so borrowers do not have to worry about their interest rate rising later.
Compared with the more common 30-year mortgage, however, the 20-year option requires borrowers to repay the loan over a shorter period. That means they can own their home outright sooner, but the trade-off is typically a higher monthly payment.
15-year fixed mortgage rate: 5.94%
The average 15-year fixed mortgage rate is 5.94% on Wednesday, Zillow data shows, up 1 basis point from Tuesday. Its biggest advantage over longer-term mortgages is the lower interest rate. The shorter repayment period also allows homeowners to clear their debt 15 years sooner than they would with a 30-year loan.
While the monthly payments can be considerably higher, borrowers can save substantially on total interest because the loan is paid off much faster. The downside is that the loan has to be repaid in half the time. This means monthly payments are usually much higher than those on a 30-year mortgage.
VA mortgage rates remain below many conventional rates
The average 30-year VA mortgage rate is 6.17%, while the 15-year VA rate is 5.73%, according to Zillow. The average 5/1 VA ARM rate is 5.74%. VA mortgage rates can be different from regular mortgage rates because these loans are designed for eligible veterans, service members and certain other borrowers.
Today's mortgage rates are national averages
The mortgage rates listed for August 26 are US national averages, according to Zillow. The figures are rounded to the nearest hundredth. The actual rate offered to a borrower can be different depending on factors such as the lender, loan type, credit profile, loan amount and other details.
Also read: Will Nvidia stock rise or fall after earnings? Options price $280b swing
Mortgage refinance rates today
Refinance rates are also available for Wednesday, August 26. The average 30-year fixed refinance rate is 6.59%, according to Zillow. The average 20-year fixed refinance rate is 6.64%, while the 15-year fixed refinance rate is 5.99%. For adjustable-rate refinance loans, the 5/1 ARM rate is 6.40% and the 7/1 ARM rate is 6.50%, according to Zillow.
VA refinance rates
The average 30-year VA refinance rate is 6.11%, according to Zillow. The average 15-year VA refinance rate is 5.65%, while the 5/1 VA refinance rate is 5.62%.Refinance rates are often higher than rates for buying a home, although this is not always the case.
Mortgage rates can change the monthly payment
The interest rate and loan period both have a major effect on how much a borrower pays each month. A higher interest rate generally means a higher monthly payment. A longer loan period can lower the monthly payment, but it can also mean paying more interest over the full life of the mortgage.
