Mortgage rates
The average 30-year fixed mortgage rate was 6.71% in the week to 2026-09-03, and the 15-year 6.04%. That is 0.15 percentage points higher than a year earlier.
What the rate costs you
Principal and interest only, over a 30-year term. Property tax, insurance and any mortgage insurance sit on top, and in high-tax states they add a great deal.
| Rate | $200,000 | $300,000 | $400,000 | $500,000 |
|---|---|---|---|---|
| 5.71% | $1,162 | $1,743 | $2,324 | $2,905 |
| 6.21% | $1,226 | $1,839 | $2,452 | $3,066 |
| 6.71% (current) | $1,292 | $1,938 | $2,584 | $3,230 |
| 7.21% | $1,359 | $2,038 | $2,718 | $3,397 |
| 7.71% | $1,427 | $2,141 | $2,855 | $3,568 |
A one percentage point move on a $300,000 loan changes the monthly payment by about $ 203.
The last forty years
Freddie Mac has run this survey weekly since 1971. The peak of 18.63% in 1981 and the floor of 2.65% in 2021 bracket everything in between, and the current 6.71% sits closer to the long-run middle than recent memory suggests.
Rates are national. What differs by state is everything wrapped around the mortgage: property taxes, insurance, transfer taxes and the price of the house itself. Those are covered on the house price pages and the individual state pages.
Source: Freddie Mac, Primary Mortgage Market Survey, weekly average commitment rate. Retrieved 2026-09-09. National averages. Mortgage rates are not published by state.
Frequently asked questions
What is the current mortgage rate?
6.71% for a 30-year fixed and 6.04% for a 15-year, averaged across lenders in the week to 2026-09-03 by Freddie Mac. This is a survey average for borrowers with strong credit and a conventional deposit, so an individual quote can sit either side of it.
Do mortgage rates vary by state?
Barely, and not in any way worth publishing a table for. Rates are driven by the bond market, which is national. What varies by state is closing costs, property taxes and insurance, all of which affect the total cost of owning without appearing in the rate. Freddie Mac does not publish a state breakdown because there is not a meaningful one to publish.
How much difference does one percentage point make?
On a $300,000 loan over 30 years, a one point change moves the monthly payment by roughly $203, and the total interest paid over the full term by tens of thousands. Rate matters more than most buyers expect and more than the deposit size in many cases.
Why is the 15-year rate lower?
Because the lender is exposed for half as long, which is less risk and less uncertainty about inflation. The trade is a much higher monthly payment for a much lower total cost. Whether that is worth doing depends on whether the higher payment is comfortable rather than merely possible.
How far back does this go?
Freddie Mac has surveyed lenders weekly since 1971. The highest 30-year rate in the series was 18.63% in 1981 and the lowest 2.65% in 2021.