Mortgage and refinance interest rates today, Saturday, August 15, 2026: Rates falling this weekend

Mortgage and refinance interest rates in the United States have been falling this weekend, according to the latest data from Zillow. The 30-year fixed rate fell by 11 basis points to 6.54%, the 15-year fixed rate dropped by 21 basis points to 5.86%, and the 5/1 ARM decreased by 1 basis point to 6.24%.

These rates represent national averages and are rounded to the nearest hundredth. Mortgage refinance rates tend to be higher than purchase rates, but this isn't always the case. A 30-year fixed mortgage offers lower and predictable monthly payments due to the spread-out repayment period, while a 15-year fixed term has higher monthly payments but allows for faster mortgage payoff and lower overall interest costs.

Adjustable-rate mortgages (ARMs) have lower introductory rates than 30-year fixed rates but come with the risk of rate increases after the introductory period.

With mortgage rates currently lower than this time last year, purchasing a home might be a good idea now, despite the recent uptick in home prices. It's essential to shop around with multiple lenders to find the best mortgage rate for your specific situation, considering factors like state, ZIP code, lender, loan type, and more.