Average mortgage rates today, August 11, 2026

All rates listed in this article are based on national averages and not on any specific borrower. Your rate and APR will be different. It will be based on your personal finances and details about the property you're buying or refinancing.

The average 30-year fixed mortgage rate is 6.76%, and the average 15-year fixed rate is 6.27%, based on the most recent settled Mortgage News Daily index (Monday, August 10, 2026 close.

Rates ticked up modestly on Monday in response to higher oil prices, though they remain closer to the lower end of their range over the past three weeks.

This article shows national averages. The exact number you're offered will depend on your credit profile, loan type, and lender. If you're actively shopping, the next step is comparing a personalized rate against these national averages.

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Today's Mortgage Rates at a Glance

Here's where the major loan products stand as of the most recent settled index:

Loan Type	Rate	Daily Change
30-Year Fixed	6.76%	+0.02%
15-Year Fixed	6.27%	+0.02%
30-Year Jumbo	6.86%	+0.01%
7/6 SOFR ARM	6.35%	+0.06%
30-Year FHA	6.29%	+0.01%
30-Year VA	6.31%	+0.01%

The figures above reflect Monday, August 10's settled close, the most recent full index available at publication. We update this page daily to keep the numbers current with today's mortgage rates.

Every lender prices loans slightly differently based on credit score, down payment, loan size, and property type, so the rate you're quoted may not match the national average exactly.

What's Moving Rates This Week

Mortgage rates track the bond market, not the Federal Reserve's rate decisions directly. Rates hit their lowest level since July 20 as of last Friday, then edged modestly higher on Monday as oil prices rose. Oil feeds into inflation expectations, which is a key input for how bond investors price mortgage-backed securities.

This week, attention shifts to a run of inflation reports due later in the week. Softer-than-expected data could pull rates back toward last week's lows; a hotter reading could push them higher. Borrowers close to locking often watch the calendar as closely as the rate itself.

What a $350,000 Mortgage Costs at Today's Rates

What would today's average rates mean for monthly payments? This table shows the effect of rates on monthly payments in hypothetical loans. Your numbers will be different.

Loan Type	Rate	Term	Est. Monthly P&I
30-Year Fixed	6.76%	30 yrs	$2,272
15-Year Fixed	6.27%	15 yrs	$3,005
30-Year Jumbo	6.86%	30 yrs	$2,296
7/6 SOFR ARM	6.35%	30 yrs	$2,178
30-Year FHA	6.29%	30 yrs	$2,164
30-Year VA	6.31%	30 yrs	$2,169

These numbers show principal and interest only. They don't include property taxes, homeowners insurance, or mortgage insurance, all of which affect your actual monthly payment.

Better's mortgage calculator can show payments at different interest rates and with insurance and taxes included.

Fixed vs. ARM vs. Government-Backed: Which Rate Fits You

Not every borrower is shopping for the same loan, and the "best" rate depends on the loan type that fits your situation:

• 30-year fixed offers predictable payments for the life of the loan. It's the most common choice for buyers who plan to stay in the home long-term or simply want payment stability.
• 7/6 SOFR ARM starts with a lower initial rate — currently averaging 6.35% versus 6.76% for a 30-year fixed — that adjusts every six months after an initial seven-year fixed period, based on the Secured Overnight Financing Rate (SOFR). This can make sense for borrowers who expect to sell, refinance, or pay off the loan before the adjustable period begins, but it carries the risk that rates could be higher when it resets.
• FHA loans (6.29%) allow for lower down payments and more flexible credit requirements, backed by the Federal Housing Administration, but require mortgage insurance premiums that don't automatically go away like conventional PMI in most cases.
• VA loans (6.31%) are available to eligible veterans, active-duty service members, and some surviving spouses, often with no down payment required and no ongoing mortgage insurance.
• Jumbo loans (6.86%) apply to loan amounts above the conforming loan limit set by the Federal Housing Finance Agency (FHFA) each year, and typically carry stricter credit and reserve requirements. See jumbo vs. conventional loan if you're financing above the conforming limit.

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Should You Lock Your Rate Today or Wait?

There's no universal answer here, and no one can reliably predict which way rates will move next. It also helps to know that mortgage rates aren't entirely fixed by the lender. Your credit profile, points, and lender comparison all play a role. What's worth weighing:

• Rates are still close to a three-week low, even after Monday's small uptick. If you lock today, you capture the current rate regardless of what happens after.
• A run of inflation data lands later this week and could move rates meaningfully in either direction depending on the readings.
• A rate lock protects you from increases between now and closing, typically for a set window (often 30–60 days), but it also means you won't benefit if rates drop further after you lock — unless your lender offers a float-down option.

If you already have a mortgage at a higher rate than today's averages, it may be worth checking whether a refinance pencils out.

Our guide on when to refinance a mortgage walks through the break-even math, and you can see your refinance options directly against your current rate.

Timing a rate lock is ultimately a personal risk decision: How much certainty you want versus how much upside you're willing to give up.

Frequently Asked Questions

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

As of the most recent settled index, the average 30-year fixed rate is 6.76%, up slightly from a three-week low reached last week. Whether it's a "good" time to lock depends on your timeline and risk tolerance.

Can I get a lower rate than the national average if I have a 750+ credit score and a 20% down payment?

Maybe. National averages reflect a broad mix of credit scores, down payments, and loan types. Borrowers with stronger credit, a larger down payment, and lower debt-to-income ratios may qualify for rates below the published average, though the exact discount varies by lender.

Is a 7/6 SOFR ARM riskier than a 30-year fixed rate right now?

It carries a different kind of risk. A 7/6 ARM starts lower than the 30-year fixed rate today, but after the initial seven-year fixed period, it adjusts every six months based on the SOFR index, which could push your payment up or down depending on where rates are at that time. A 30-year fixed rate carries no adjustment risk at all.

Should I wait for rates to drop further before buying, or lock in now?

There's no way to reliably predict future rate movement, including this week's inflation reports. Some buyers choose to lock now to secure predictability, while others wait if they believe rates will fall and they can tolerate the risk of them rising instead. A rate lock with a float-down option can offer a middle ground.

What's the difference between a rate lock and a rate float-down, and do I need both?

A rate lock guarantees your interest rate won't increase before closing, usually for 30–60 days. A float-down is an optional feature some lenders offer that lets you capture a lower rate if the market improves after you lock, typically for an added fee. You don't need a float-down to lock a rate — it's an extra layer of flexibility, not a requirement.

The Bottom Line

Today's average 30-year fixed rate is 6.76%, up modestly from a three-week low reached last week after oil prices rose.

National averages offer a barometer for mortgage costs, but they don't apply directly to your loan.

The most reliable way to know what you'd actually qualify for is to check your personalized rate directly.

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