Mortgage and refinance interest rates today, Wednesday, August 19, 2026: Surprisingly calm amid bond market volatility

Mortgage interest rates remained relatively stable on Wednesday, August 19, 2026, despite recent volatility in the bond market. According to the Zillow lender marketplace, the average 30-year fixed mortgage rate increased slightly to 6.55%, up two basis points from the previous day. Meanwhile, the 15-year fixed loan rate dropped by seven basis points to 5.87%, and the 5/1 ARM rate decreased by eight basis points to 6.31%.

These figures represent national averages, rounded to the nearest hundredth. It's important to note that mortgage refinance rates are typically higher than purchase rates, but that's not always the case. To get a more accurate estimate of your monthly payments, you can use a mortgage calculator, which can also factor in costs like private mortgage insurance (PMI) and homeowners association (HOA) dues.

Thirty-year fixed-rate mortgages offer lower monthly payments and predictable payments due to their long repayment period. However, borrowers should be aware of the higher overall interest paid over the life of the loan. Fifteen-year fixed loans have lower interest rates but higher monthly payments and shorter repayment periods, allowing borrowers to pay off their mortgage 15 years earlier and save on interest.

Adjustable-rate mortgages (ARMs) have rates that change periodically after an initial fixed-term. While they often start with lower rates than fixed-rate mortgages, borrowers risk increased payments later on if rates rise. Short-term fixed-rate mortgages can also provide lower initial rates, but borrowers must consider the potential for increasing rates and unpredictable monthly payments.

The national average 30-year mortgage rate stands at 6.55%, according to the Zillow lender marketplace data. However, rates can vary depending on location and other factors. For those considering refinancing, improving credit scores, lowering debt-to-income ratios, and choosing shorter loan terms can help secure better rates. Various refinance options are available, such as cash-out and no-closing-cost refinances, each catering to different financial goals.