Mortgage rates in the United States can change from week to week, and the rate you receive depends on factors such as your credit profile, down payment, loan type, loan term, property and lender. If you are researching current mortgage rates USA 2026, this guide explains the latest national mortgage-rate benchmarks, how rates work, what affects your personal rate, and how to estimate your monthly payment.
Current Mortgage Rates USA 2026
The latest weekly national mortgage-rate benchmark from Freddie Mac shows the following average rates:
| Mortgage Type | Average Rate | Data Date |
|---|---|---|
| 30-Year Fixed | 6.67% | August 13, 2026 |
| 15-Year Fixed | 5.96% | August 13, 2026 |
Source: Freddie Mac Primary Mortgage Market Survey (PMMS).
These figures represent national averages and are not guaranteed rates for individual borrowers. Your actual mortgage offer may be higher or lower depending on your credit history, loan-to-value ratio, loan type, loan amount, lender, points and other underwriting factors.
What Are Mortgage Rates?
A mortgage rate is the interest rate charged on money borrowed to purchase or refinance a home. The interest rate affects the amount of interest included in your monthly mortgage payment and the total interest paid over the life of the loan.
Mortgage rates are different from APR. The interest rate is used to calculate interest on the loan, while APR is a broader measure that can include certain loan fees and finance charges. When comparing lenders, it is important to review both the rate and APR along with the total loan costs.
30-Year vs. 15-Year Mortgage Rates
| Feature | 30-Year Fixed | 15-Year Fixed |
|---|---|---|
| August 13, 2026 average | 6.67% | 5.96% |
| Repayment period | 30 years | 15 years |
| Typical monthly payment | Lower | Higher |
| Total interest over loan life | Usually higher | Usually lower |
The 15-year fixed mortgage had a lower national average rate than the 30-year fixed mortgage in Freddie Mac’s August 13, 2026 survey. However, the shorter repayment period normally produces a higher monthly principal-and-interest payment.
How Much Is a $300,000 Mortgage at 6.67%?
For illustration, a $300,000 30-year fixed mortgage at 6.67% would have an estimated principal-and-interest payment of approximately $1,929 per month.
This example does not include property taxes, homeowners insurance, HOA fees, mortgage insurance or other costs. Your actual monthly housing payment can therefore be higher.
Calculate Your Mortgage Payment
Estimate your monthly principal and interest payment using your home price, down payment, interest rate and loan term.
What Determines Your Mortgage Rate?
The rate advertised by a lender is not necessarily the rate every borrower receives. Mortgage lenders evaluate several factors when determining eligibility and pricing.
- Credit score and credit history: Your credit profile can affect eligibility and the pricing available to you.
- Down payment: A larger down payment can reduce the loan-to-value ratio.
- Loan type: Conventional, FHA, VA and other programs have different eligibility and pricing structures.
- Loan term: 15-year and 30-year mortgages commonly have different rates.
- Loan amount: Larger or jumbo loans can have different pricing.
- Debt-to-income ratio: Lenders evaluate your existing debts relative to your income.
- Points and fees: Discount points may reduce an interest rate in exchange for higher upfront costs.
- Market conditions: Economic and financial-market conditions influence mortgage pricing.
How Credit Score Can Affect Mortgage Rates
Your credit profile is one of the factors lenders consider when evaluating a mortgage application. Borrowers with stronger credit may qualify for more competitive offers, while borrowers with weaker credit may face different loan requirements or pricing.
There is no single mortgage rate that applies to every credit score. Lenders consider your complete financial profile rather than credit score alone.
Learn how credit score affects mortgage rates
Read our guide to minimum credit scores for mortgages
How Down Payment Affects Your Mortgage
Your down payment determines how much money you need to borrow and affects your loan-to-value ratio. Depending on the mortgage program and borrower circumstances, a smaller down payment may also result in mortgage insurance requirements.
A 20% down payment is not universally required to purchase a home. Different mortgage programs have different requirements, and qualified borrowers may be able to purchase with substantially less money down.
Mortgage Rate vs. APR: What’s the Difference?
The mortgage interest rate is used to calculate the interest portion of your loan payment. APR is a broader borrowing-cost measure that can include certain finance charges and fees.
When comparing mortgage offers, don’t focus only on the advertised interest rate. Review the APR, points, lender fees, closing costs and the overall loan estimate.
How to Get the Best Mortgage Rate
You cannot control overall market rates, but you can improve your financial position and compare lenders before choosing a mortgage.
- Review your credit reports before applying.
- Reduce unnecessary outstanding debt where possible.
- Save for an appropriate down payment and closing costs.
- Compare offers from multiple lenders.
- Compare APR as well as the advertised interest rate.
- Ask lenders about points and other upfront costs.
- Choose a loan term that fits your budget.
- Review the Loan Estimate before committing to a mortgage.
Should You Wait for Mortgage Rates to Fall?
Trying to predict the exact future direction of mortgage rates is difficult. A future rate decline could reduce borrowing costs, but waiting can also mean changes in home prices, inventory, lender requirements and your personal financial circumstances.
Instead of making a decision based only on a rate forecast, compare the total cost of buying now with the potential cost of waiting and make sure the expected monthly payment fits your budget.
Mortgage Rate Trends in 2026
Mortgage rates have moved during 2026 rather than remaining at one fixed level. Freddie Mac’s weekly survey provides a useful benchmark for tracking these changes.
For example, Freddie Mac reported a 30-year fixed average of 6.43% on July 2, 2026, 6.66% on July 30, and 6.67% on August 13. The corresponding 15-year fixed averages were 5.79%, 6.04% and 5.96%.
This is why a mortgage-rate article should always show the date of the rate data instead of presenting one number as permanently current.
Mortgage Rates by Loan Type
Different mortgage programs can have different eligibility requirements, pricing structures and costs. Common mortgage categories include conventional mortgages, FHA loans, VA loans and jumbo mortgages.
| Loan Type | General Characteristics |
|---|---|
| Conventional | Common mortgage option offered by private lenders; requirements vary by borrower and loan. |
| FHA | Government-insured mortgage program with specific eligibility and mortgage-insurance requirements. |
| VA | Mortgage program for eligible veterans, service members and other qualifying borrowers. |
| Jumbo | Mortgage financing above applicable conforming loan limits, with lender-specific requirements. |
Do not assume that one advertised rate applies to every borrower. Compare the complete loan terms and eligibility requirements before choosing a mortgage.
Frequently Asked Questions
What are current mortgage rates in the USA in 2026?
Freddie Mac reported a national average 30-year fixed mortgage rate of 6.67% and a 15-year fixed average of 5.96% for August 13, 2026. Individual lender offers can differ.
What is the current 30-year mortgage rate?
The Freddie Mac national average for a 30-year fixed mortgage was 6.67% for August 13, 2026.
What is the current 15-year mortgage rate?
The Freddie Mac national average for a 15-year fixed mortgage was 5.96% for August 13, 2026.
What is a good mortgage rate in 2026?
There is no single rate that is considered good for every borrower. Your offer depends on factors such as credit profile, loan type, down payment, loan term, lender and market conditions. Compare multiple offers rather than relying on one advertised rate.
Will mortgage rates go down in 2026?
Future mortgage rates cannot be predicted with certainty. Mortgage rates respond to changing economic and financial-market conditions, so borrowers should avoid making a home-buying decision based solely on a forecast.
Does a 20% down payment guarantee the lowest mortgage rate?
No. A 20% down payment can reduce the loan-to-value ratio and may eliminate PMI on some conventional loans, but lenders consider multiple factors when determining mortgage pricing.
Where can I calculate my mortgage payment?
You can use the Paybax Mortgage Payment Calculator to estimate principal and interest payments based on your loan amount, interest rate and term.
Sources and Methodology
The national mortgage-rate figures in this article are based on Freddie Mac’s Primary Mortgage Market Survey (PMMS). The latest figures used in this update are dated August 13, 2026.
Freddie Mac Primary Mortgage Market Survey
Last updated: August 16, 2026
Important: Paybax provides educational information and estimates. It does not provide personalized mortgage offers. Actual mortgage rates, fees and loan terms are determined by individual lenders and borrower circumstances.