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According to the Zillow lender marketplace, mortgage rates are mostly higher following the first Fed rate increase in three years.

The average 30-year fixed rate today, Friday, September 18, 2026, is 7.05%, up 4 basis points since yesterday. The 15-year fixed loan is currently at 6.43%, 1 basis point lower than yesterday. The 5/1 ARM is 7.16%, up 6 basis points from Thursday.

Read more: Weekly survey of mortgage lenders with the lowest rates: Breaking the 7% barrier

Current mortgage rates

Here are the current purchase rates, according to the latest Zillow data, for Friday, September 18, 2026:

• 30-year fixed: 7.05%

• 20-year fixed: 6.92%

• 15-year fixed: 6.43%

• 5/1 ARM: 7.14%

• 7/1 ARM: 6.66%

• 30-year VA: 6.46%

• 15-year VA: 6.00%

• 5/1 VA: 6.34%

Remember, these are national averages and have been rounded to the nearest hundredth. 

Current mortgage refinance rates

These are the latest refinance rates, according to the latest Zillow data, for Friday, September 18, 2026:

• 30-year fixed: 7.07%

• 20-year fixed: 6.96%

• 15-year fixed: 6.46%

• 5/1 ARM: 7.13%

• 7/1 ARM: 6.70%

• 30-year VA: 6.64%

• 15-year VA: 6.73%

• 5/1 VA: 5.86%

Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that’s not always the case.

Learn more: Dig deeper into the 7 home refinance options

Free mortgage calculator

Your mortgage rate plays a large role in how much your monthly payment will be. Use this mortgage calculator to see how your mortgage amount, rate, and term length will impact your monthly payments:

You can bookmark the Yahoo Finance mortgage payment calculator and keep it handy for future use, as you shop for homes and the best mortgage lenders.

How mortgage interest rates work

A mortgage interest rate is a fee for borrowing money from your lender, expressed as a percentage. You can choose from two types of rates: fixed or adjustable.

A fixed-rate mortgage locks in your rate for the entire life of your loan. For example, if you obtain a 30-year mortgage with a 6% interest rate, your rate will remain at 6% for the entire 30-year term unless you refinance or sell.

An adjustable-rate mortgage locks in your rate for a predetermined period and then adjusts it periodically. Let’s say you get a 7/1 ARM with an introductory rate of 6%. Your rate would be 6% for the first seven years, then the rate would increase or decrease once per year for the last 23 years of your term. Whether your rate goes up or down depends on several factors, such as the economy and housing market.

At the beginning of your mortgage term, most of your monthly payment goes toward interest. Your monthly payment toward mortgage principal and interest stays the same throughout the years. However, less and less of your payment goes toward interest, and more goes toward the mortgage principal or the amount you originally borrowed.

Read more: Determine whether an adjustable-rate vs. fixed-rate mortgage is better for you

Which mortgage term length should you get?

A 30-year fixed-rate mortgage is a good choice if you want a lower mortgage payment and the predictability that comes with having a fixed rate. Just know that your rate will be higher than if you choose a shorter term, and you will pay significantly more in interest over the years.

You may want to consider a 15-year fixed-rate mortgage if you aim to pay off your home loan quickly and save money on interest. These shorter terms come with lower interest rates, and since you’re cutting your repayment time in half, you’ll save a lot in interest in the long run. But you’ll need to be sure you can comfortably afford the higher monthly payments that come with 15-year terms.

Read more: Learn how to decide between a 15-year and 30-year fixed-rate mortgage

Typically, an adjustable-rate mortgage might be suitable if you plan to sell before the introductory rate period ends. Adjustable rates usually start lower than fixed rates, and then your rate will change after a predetermined amount of time. However, 5/1 and 7/1 ARM rates have been similar to (or even higher than) 30-year fixed rates recently. Before getting an ARM just for a lower rate, compare your rate options from term to term and lender to lender.

Are mortgage rates decreasing?

Rates are rising for the most part. The average 30-year fixed rate today, Friday, September 18, 2026, is 7.05%, up 4 basis points since yesterday. The 15-year fixed loan is currently at 6.43%, 1 basis point lower than yesterday. The 5/1 ARM is 7.16%, up 6 basis points from Thursday.

Mortgage interest rates today: FAQs

What are mortgage interest rates doing today?

According to Freddie Mac, the average 30-year mortgage rate was 6.95% through Wednesday, up from 6.76% a week earlier. A year ago, the average 30-year mortgage rate was 6.26%.

How low will mortgage rates go in 2026?

According to the latest forecasts, the MBA expects the 30-year mortgage rate to average between 6.6% and 6.7% through the rest of 2026. Fannie Mae predicts a 30-year rate between 6.7% and 6.8% through the end of the year.

How low could mortgage rates go by 2027?

Mortgage rates are likely to remain little changed in 2027. The MBA forecasts 30-year fixed rates of 6.7% for all of 2027. Fannie Mae is predicting average rates will be between 6.7% and 6.8% throughout 2027. 

If you’re looking for a secure place to store your savings, a certificate of deposit (CD) may be a great choice. These accounts often provide higher interest rates than traditional checking and savings accounts. However, CD rates can vary widely. Learn more about CD rates today and where to find high-yield CDs with the best rates available. Here is a look at some of the best CD rates available today from our verified partners:

Banks with the best CD rates right now

Today’s CD rates vary quite a bit. In general, however, CD rates have been declining for quite some time due to the Fed’s decision to cut its benchmark rate three times in the latter part of 2024 and three times in 2025. Even so, with the Fed leaving rates unchanged so far in 2026, some banks are still offering competitive CD rates.

For institutions offering competitive rates, top rates reach about 4% APY. This is especially true for shorter terms of one year or less. 

Today, Friday, September 18, 2026, the highest CD rate is 4.40%, and it’s offered by Happen Bank on its 2-year CD.

Compare these rates to the national average as of August 2026 (the most recent data available from the FDIC):

Compared with today’s top CD rates, national averages are much lower. This highlights the importance of shopping around for the best CD rates before opening an account.

Why do online banks have the best CD rates?

Online banks and neobanks are financial institutions that operate solely via the web. That means they have lower overhead costs than traditional brick-and-mortar banks. As a result, they’re able to pass those savings on to their customers in the form of higher interest rates on deposit accounts (including CDs) and lower fees. If you’re looking for the best CD rates available today, an online bank is a great place to start.

However, online banks aren’t the only financial institutions offering competitive CD rates. It’s also worth checking with credit unions. As not-for-profit financial cooperatives, credit unions return their profits to customers, who are also member-owners. Although many credit unions have strict membership requirements that are limited to those who belong to certain associations or work or live in certain areas, there are also several credit unions that just about anyone can join.

Should you open a CD?

Whether or not you should put your money in a CD depends on your savings goals. CDs are considered a safe and stable savings vehicle — they don’t lose money (in most cases), are backed by federal insurance, and allow you to lock in today’s best rates.

However, there are some drawbacks to consider. First, you must keep your money on deposit for the full term; otherwise, you’ll be subject to an early withdrawal penalty. If you want flexible access to your funds, a high-yield savings account or money market account might be a better choice.

Additionally, although today’s CD rates are high by historical standards, they don’t match the returns you could achieve by investing your money in the market. If you’re saving for a long-term goal such as retirement, a CD won’t provide the growth you need to reach your savings goal within a reasonable time frame.

Read more: Short- or long-term CD: Which is best for you?

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