Mortgage rates today, July 14, 2026

Rates are daily averages based on Better Mortgage data, not APRs. Real rates and APRs vary by borrower.

The average 30-year fixed mortgage rate is holding near 6.75% today, matching its highest level in roughly 11 months, while the 15-year fixed sits at 6.21%.

A fresh inflation report released this morning showed headline price growth cooling to 3.5% year-over-year, which would normally ease pressure on average mortgage rates.

But renewed tension around the U.S.-Iran ceasefire has pushed oil prices higher again, and that offsetting inflation risk is keeping mortgage rates elevated for now.

If you're shopping for a home or planning to refinance, these average rates won't apply directly to you. Real rates vary based on the borrower's credit profile, location, and loan size, among other variables.

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Today's mortgage rates by loan type

Here's where rates stand today, per our daily rate index:

Loan type	Rate
30-year fixed	6.75%
15-year fixed	6.21%
30-year jumbo	6.87%
7/6 SOFR ARM	6.24%
30-year FHA	6.25%
30-year VA	6.26%

These are national averages — your actual rate depends on your credit score, down payment, loan amount, and lender.

Why rates are moving today

Mortgage rates track the bond market, and today the bond market is digesting two conflicting signals.

Inflation data released this morning showed the consumer price index cooling to 3.5% year-over-year, as energy prices had been trending down. On its own, that kind of reading tends to ease inflation expectations and pull rates lower over time.

But renewed conflict around the U.S.-Iran ceasefire has pushed oil prices back up, reigniting the same inflation risk the cooler CPI print seemed to ease. Higher oil prices raise the cost of transporting and manufacturing goods, which feeds into broader inflation.

When inflation expectations rise, bond investors demand higher yields to offset the eroding value of future fixed loan payments, and mortgage rates move with those yields.

Should you lock your rate today?

If you're under contract on a home or planning a refinance, locking your rate protects you from increases while your loan moves through processing and underwriting.

Once you lock, your rate is fixed for a set window, typically 30 to 60 days, regardless of what happens in the bond market between now and closing.

Some lenders offer float-down options that allow you to lock a rate and then move to a lower rate should it drop materially before closing.

How today's rate affects your payment

Here's what today's rates mean in dollar terms. On a $350,000 loan:

• 30-year fixed at 6.75%: approximately $2,270 per month in principal and interest, not including taxes, insurance, or other fees.
• 15-year fixed at 6.21%: approximately $3,001 per month in principal and interest (about $731 more per month), but the loan is paid off in half the time and total interest paid drops by well over $150,000 over the life of the loan.

These figures don't include property taxes, homeowners insurance, or mortgage insurance, which add to your total monthly payment. This is an illustrative example only; your own payment will depend on your specific loan amount, down payment, and location. To see how today's rate applies to your situation, run the numbers with a mortgage calculator.

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Frequently asked questions about today's rates

What is today's 30-year mortgage rate, and is it a good time to lock?

Today's average 30-year fixed rate is 6.75%. Whether it's a good time to lock depends on your timeline and risk tolerance. If you're closing soon and comfortable with your quote, locking protects you from further increases.

Why did mortgage rates go up this week if the Fed hasn't raised rates?

Mortgage rates track the bond market, not the Fed's benchmark rate directly. Renewed U.S.-Iran ceasefire tensions have pushed oil prices and inflation expectations higher, which has pushed bond yields — and mortgage rates — up, even without a Fed rate hike.

I have a 7% rate from 2024 — does today's rate make refinancing worth it?

Probably not. A 7% rate against today's roughly 6.75–6.9% refinance rates is a fairly narrow gap once you factor in closing costs, so the math depends heavily on how long you plan to stay in the home and other unique factors. Run your specific numbers with a refinance calculator to find your break-even point before deciding.

I'm a first-time buyer with only 5% down saved. How much does today's rate change my monthly payment versus last year?

Rate movement year-over-year has been modest, so it isn't the biggest lever for a 5%-down buyer. Mortgage insurance and your overall loan size usually matter more for your payment than small shifts in the rate itself.

If today's inflation report came in cooler, why didn't mortgage rates drop?

Cooler inflation data usually helps rates, but it's being offset today by renewed Iran ceasefire tensions pushing oil prices higher, which raises inflation risk from a different direction. When two forces point in opposite directions, rates often hold steady rather than move sharply either way.

Bottom line on today's rates

Mortgage rates today are holding just above 6.75%, with renewed geopolitical risk offsetting an otherwise cooler inflation print. This kind of push-and-pull has become a familiar pattern through the summer of 2026.

National average rates show just that — average rates. Your rate will depend on your unique financial profile. A pre-approval can show a personalized quote.

...in as little as 3 minutes — no credit impact

Rates shown are daily average interest rates, not APRs, based on Better Mortgage data and are for informational purposes only. Rates are not guaranteed, may include borrower-paid or lender credits, and actual rates and terms vary by borrower and transaction. Comparison to industry average rates may not reflect individual borrower scenarios and is not a guarantee of lower rates or savings.