Mortgage rates are always a hot topic for homeowners and potential buyers alike. According to the latest data from the Zillow lender marketplace, mortgage rates have seen some fluctuations compared to last week. The current 30-year fixed rate has fallen by 14 basis points to 6.51%, while the 15-year fixed rate remains unchanged at 6.01%. Additionally, the 5/1 ARM has decreased by 28 basis points to 6.37%.
It’s important to stay informed about current mortgage rates, especially if you’re considering buying a home or refinancing your existing mortgage. Here are the current mortgage rates as of Sunday, August 9, 2026, according to Zillow:
– 30-year fixed: 6.51%
– 20-year fixed: 6.34%
– 15-year fixed: 6.01%
– 5/1 ARM: 6.37%
– 7/1 ARM: 6.30%
– 30-year VA: 6.03%
– 15-year VA: 5.70%
– 5/1 VA: 5.66%
These rates are national averages and are rounded to the nearest hundredth. It’s always a good idea to keep an eye on mortgage rates to make informed decisions about your home financing options.
When it comes to mortgage refinance rates, the current rates as of August 9, 2026, are as follows:
– 30-year fixed: 6.64%
– 20-year fixed: 6.43%
– 15-year fixed: 6.03%
– 5/1 ARM: 6.50%
– 7/1 ARM: 6.33%
– 30-year VA: 6.13%
– 15-year VA: 5.69%
– 5/1 VA: 5.88%
Refinance rates are often higher than purchase rates, but it’s worth exploring your options to see if refinancing could benefit you in the long run.
When deciding between a 30-year and a 15-year mortgage, it’s essential to consider your financial goals. While a 30-year term may offer lower monthly payments, a 15-year term could save you money in the long run by paying off your loan sooner and accruing less interest.
Fixed-rate mortgages lock in your rate for the entire loan term, while adjustable-rate mortgages offer a fixed rate for a set period before potentially adjusting based on market conditions. It’s essential to weigh the pros and cons of each type of mortgage before making a decision.
To secure a low mortgage rate, focus on improving your credit score, saving for a larger down payment, and reducing your debt-to-income ratio. Shopping around with multiple lenders and comparing APRs can also help you find the best mortgage lender for your needs.
Stay informed about current mortgage rates and make sure to consider all factors before making a decision about your home financing. Remember, every situation is unique, so it’s essential to tailor your mortgage choices to fit your specific needs and financial goals.
