Mortgage and refinance rates today, Tuesday, August 25, 2026: Rates mixed this morning

Mortgage and refinance rates experienced mixed changes on Tuesday, August 25, 2026, according to Zillow's lender marketplace. The average 30-year fixed rate dropped to 6.63%, 1 basis point lower than the previous day. Conversely, the 15-year fixed loan rate rose to 5.95%, 7 basis points higher than yesterday. The 5/1 ARM rate decreased to 6.62%, 12 basis points below Monday's rate.

These are the national averages, rounded to the nearest hundredth. Refinance rates tend to be higher than purchase rates. A mortgage calculator can assist in estimating monthly payments based on different mortgage term lengths and interest rates, including property taxes and homeowners insurance. The 15-year mortgage generally offers lower rates but higher monthly payments compared to the 30-year mortgage.

Mortgage rates are expected to remain steady in 2027, with the Mortgage Bankers Association forecasting 30-year fixed rates at 6.70% and Fannie Mae predicting rates between 6.70% and 6.80%. Refinancing your mortgage may be a good idea, as rates are down more than half a point since the end of May, leading to a 62% increase in refinance applications year over year.