Mortgage rates today: 30-year, 15-year, ARM rates and refinance rates on August 17

Mortgage rates today, August 17, 2026: See current 30-year, 15-year, ARM and VA mortgage rates, refinance rates and tips to get a lower rate.

Mortgage rates today are slightly lower for home buyers than for people refinancing their loans. According to rates from the Zillow lender marketplace, the average 30-year fixed purchase mortgage rate is 6.54% on Monday, August 17, 2026. That is 5 basis points lower than the 30-year refinance rate of 6.59%.

Mortgage rates today, August 17, 2026 (AP)

The average 15-year fixed purchase mortgage rate is 5.86% today. This is 2 basis points lower than the 15-year refinance rate of 5.88%, according to Zillow data cited by Yahoo Finance. The 5/1 adjustable-rate mortgage (ARM) is also cheaper for buyers than refinancers. The average 5/1 ARM purchase rate is 6.24%, compared with 6.44% for refinancing, a difference of 20 basis points, according to Zillow.

Here are today's average mortgage rates for home purchases:

• 30-year fixed: 6.54%
• 20-year fixed: 6.31%
• 15-year fixed: 5.86%
• 5/1 ARM: 6.24%
• 7/1 ARM: 6.38%
• 30-year VA: 6.08%
• 15-year VA: 5.63%
• 5/1 VA: 5.68%

These are national average rates and are rounded to the nearest hundredth, according to Yahoo Finance. Mortgage refinance rates are slightly different today.

The average rates on Monday, August 17, 2026, are:

• 30-year fixed: 6.59%
• 20-year fixed: 6.18%
• 15-year fixed: 5.88%
• 5/1 ARM: 6.44%
• 7/1 ARM: 6.35%
• 30-year VA: 6.00%
• 15-year VA: 5.79%
• 5/1 VA: 5.39%

Refinance rates are often higher than purchase mortgage rates, but this does not happen every time. The rates can change based on the type of loan, borrower profile and market conditions, according to Yahoo Finance.

30-year mortgage rates today

The 30-year fixed mortgage remains the most popular type of home loan. Today's average purchase rate is 6.54%, according to Zillow data cited by Yahoo Finance. A 30-year mortgage spreads payments over 360 months, which usually makes the monthly payment lower than a shorter-term mortgage.

For example, if someone takes out a $300,000 mortgage at 6.70% for 30 years, the monthly payment for principal and interest would be about $1,935.04. Over the full 30-year loan, the borrower would make about $696,614 in total payments, including around $396,614 in interest, based on Yahoo Finance's example.

15-year mortgage rates today

The average 15-year purchase mortgage rate is 5.86% today. A 15-year loan has a lower interest rate than a 30-year loan, according to Yahoo Finance. The biggest benefit is that the borrower pays off the mortgage 15 years earlier. This also means there are fewer years for interest to build up.

The downside is that the monthly payment is much higher because the borrower has to repay the same debt in half the time. For example, on a $300,000 mortgage at 6.04% for 15 years, the monthly principal-and-interest payment would be about $2,537.41, according to Yahoo Finance. However, the total interest paid over the life of that loan would be about $156,734, which is much lower than the interest cost in the 30-year example.

Adjustable mortgage rates

Adjustable-rate mortgages, or ARMs, work differently from fixed-rate loans. The interest rate stays fixed for an initial period and then changes at regular intervals. For example, a 5/1 ARM keeps the same rate for the first five years. After that, the rate can change once every year.

ARMs can sometimes start with lower rates than fixed mortgages. But there is a risk: the rate can rise after the initial fixed period ends, which can increase the monthly payment. An ARM may make sense for someone who expects to sell the home before the initial rate period ends. In that case, the borrower could benefit from the lower starting rate without staying long enough to face later rate increases.

However, ARM rates have recently sometimes been similar to or even higher than fixed mortgage rates, according to Yahoo Finance. That means borrowers should compare both options instead of automatically assuming an ARM will be cheaper. Shopping around can help borrowers find a better rate. Different lenders can offer different rates, especially for adjustable-rate mortgages.

How to get a lower mortgage rate

A borrower's financial profile can affect the mortgage rate they receive. Lenders generally offer better rates to borrowers with higher down payments, excellent credit scores and lower debt-to-income ratios, according to Yahoo Finance. If you want a lower mortgage rate, you can consider saving for a larger down payment, improving your credit score or paying down existing debt before applying for a home loan.

Another option is to buy down the mortgage rate by paying discount points at closing. This means paying more upfront in exchange for a lower interest rate. Borrowers can also consider a temporary rate buydown. For example, with a 2-1 buydown on a 6.25% mortgage, the rate could start at 4.25% in the first year, rise to 5.25% in the second year, and then return to 6.25% for the rest of the loan, according to Yahoo Finance.

But a lower rate does not always mean a better deal. Borrowers need to compare the upfront cost of the buydown with the amount they will actually save each month. One important question is how long you plan to stay in the home. If you move or refinance before recovering the cost of the buydown, the extra money paid upfront may not be worth it.

Mortgage payment calculator

A mortgage calculator can help home buyers understand the real cost of a loan. Yahoo Finance's mortgage calculator allows users to compare different loan terms and interest rates.

The calculator also considers costs such as property taxes and homeowners insurance, giving borrowers a better estimate of their total monthly housing payment instead of looking only at principal and interest. Borrowers can use a mortgage calculator while shopping for homes and comparing mortgage lenders to see how different rates and loan terms could change their monthly payments.