Mortgage rates are on the rise this week, with the current 30-year fixed rate climbing by 4 basis points to 6.48%. Similarly, the 15-year fixed rate saw an increase of 8 basis points to 5.90%, while the 5/1 ARM rose by 3 basis points to 6.46%. These figures, sourced from the Zillow lender marketplace, indicate a slight uptick in rates compared to the previous week.
For those looking to refinance, the rates today, Sunday, July 19, 2026, according to Zillow data are as follows:
– 30-year fixed: 6.48%
– 20-year fixed: 6.26%
– 15-year fixed: 5.74%
– 5/1 ARM: 6.28%
– 7/1 ARM: 6.36%
– 30-year VA: 5.80%
– 15-year VA: 5.70%
– 5/1 VA: 5.58%
It’s important to note that these figures represent national averages and are rounded to the nearest hundredth. Mortgage refinance rates tend to be slightly higher than rates for purchasing a home, although this isn’t always the case.
When deciding between a 30-year and 15-year fixed mortgage, it’s essential to consider your long-term financial goals. While a 30-year term offers lower monthly payments, a 15-year term comes with a lower interest rate and allows you to pay off the loan sooner, ultimately saving on interest payments over the life of the loan.
Furthermore, the choice between a fixed-rate and adjustable-rate mortgage depends on your financial situation and risk tolerance. Fixed-rate mortgages offer stability with a locked-in rate for the loan term, while adjustable-rate mortgages start with a lower rate that can fluctuate over time.
To secure the lowest mortgage rate, borrowers should focus on improving their credit score, saving for a larger down payment, and reducing their debt-to-income ratio. Rather than waiting for rates to drop, taking proactive steps to strengthen your financial profile can help you secure a favorable rate when purchasing a home.
When selecting a mortgage lender, it’s essential to compare not only interest rates but also the annual percentage rate (APR), which encompasses the interest rate, discount points, and fees. By obtaining preapproval from multiple lenders and considering the APR, borrowers can make an informed decision when choosing a mortgage provider.
In conclusion, staying informed about current mortgage rates, understanding the factors that influence rate fluctuations, and taking proactive steps to improve your financial standing can help you secure the best possible mortgage rate for your home purchase or refinancing needs.
