According to the Zillow lender marketplace, fixed mortgage rates are higher today, Tuesday, September 1, 2026, following U.S. airstrikes on Iranian rocket launchers over the weekend
The average 30-year fixed rate is 6.59%, up four basis points since yesterday. The 15-year fixed loan is currently 6%, up 9 basis points from Monday. The 5/1 ARM is 6.22%, 4 basis points lower than yesterday.
Today’s mortgage rates
Here are the current mortgage rates, according to our latest Zillow data, for Tuesday, September 1, 2026:
- 30-year fixed: 6.59%
- 20-year fixed: 6.23%
- 15-year fixed: 6%
- 5/1 ARM: 6.22%
- 7/1 ARM: 6.08%
- 30-year VA: 6.14%
- 15-year VA: 5.91%
- 5/1 VA: 6.05%
Remember that these are the national averages and are rounded to the nearest hundredth.
Today’s mortgage refinance rates
These are the current mortgage refinance rates, according to the latest Zillow data for Tuesday, September 1, 2026:
- 30-year fixed: 6.72%
- 20-year fixed: 6.51%
- 15-year fixed: 6.09%
- 5/1 ARM: 6.45%
- 7/1 ARM: 6.49%
- 30-year VA: 6.08%
- 15-year VA: 5.58%
- 5/1 VA: 5.59%
Again, the numbers provided are national averages rounded to the nearest hundredth. Refinance rates are usually higher than purchase rates.
tax assistant mortgage calculator
A mortgage calculator can help you see how various mortgage term lengths and interest rates will affect your monthly payments. Use this mortgage calculator to explore different outcomes.
You can bookmark the tax assistant mortgage payment calculator and keep it handy for future use, as you shop for homes and lenders. It also considers factors like property taxes and homeowners insurance when calculating your estimated monthly mortgage payment. This gives you a better idea of your total monthly payment than if you just looked at the mortgage principal and interest.
30-year vs. 15-year fixed mortgage rates
Generally, 15-year mortgage rates are lower than those for 30-year mortgages. When comparing 15- versus 30-year mortgage rates, know that the shorter term will save you money on interest in the long run. However, your monthly payments will be higher because you’re paying off the same loan amount in half the time.
For example, with a $400,000 mortgage with a 30-year term and a 6.19% rate, you’ll make a monthly payment of about $2,447.28 toward your mortgage principal and interest. As interest accumulates over decades, you’ll end up paying $481,021 in interest.
If you get a $400,000 15-year mortgage with a 5.65% rate, for example, you’ll pay about $3,300.26 monthly toward your principal and interest. However, you’ll only pay $194,047 in interest over the years.
If that 15-year mortgage payment is too high, remember you can always make extra payments on your 30-year loan to pay it off faster and ultimately pay less interest.
Fixed-rate vs. adjustable-rate mortgages
With a fixed-rate mortgage, your rate is locked in from day one. However, you will get a new rate if you refinance your mortgage.
An adjustable-rate mortgage keeps your rate the same for a specified period. Then, the rate will increase or decrease depending on several factors, such as the economy, and the maximum amount your rate can change according to your contract. For example, with a 7/1 ARM, your rate would be locked in for the first seven years, then adjust annually for the remainder of your term.
Adjustable rates sometimes start lower than fixed rates, but once the initial rate-lock period ends, you risk your interest rate going up. ARM rates have also been starting higher than fixed rates recently, so you may not always get a rate break.
Mortgage rates fluctuate based on broader economic conditions, inflation expectations, and global geopolitical events. Unsettling news—such as geopolitical conflicts or international military actions—can create market uncertainty, prompting bond yields and mortgage interest rates to tick upward.
Refinance rates are typically slightly higher because lenders often view refinancing as carrying a different risk profile compared to a new home purchase. Additionally, standard fee adjustments set by loan backers (such as Fannie Mae and Freddie Mac) can increase the overall cost of refinancing.
It depends on your monthly budget:
15-Year Fixed: Offers lower interest rates and saves hundreds of thousands of dollars in total interest over time, but requires significantly higher monthly payments.
30-Year Fixed: Offers lower, more manageable monthly payments, giving you financial flexibility—though you pay much more interest over the full term.
An ARM offers a fixed interest rate for an initial introductory period (such as 5 or 7 years). Once that initial period ends, your rate will adjust periodically based on market indexes and preset contractual caps. While ARMs can offer lower initial rates, they carry the risk of rate increases later on.
A comprehensive mortgage calculator factors in your total housing costs, which include:
Principal & Interest: The core payment toward loan payoff and interest charges.
Property Taxes: Local real estate taxes collected in an escrow account.
Homeowners Insurance: Required insurance coverage for property damage.
HOA Fees / PMI: Any homeowner association dues or Private Mortgage Insurance (if placing less than 20% down).
Manoj Sharma is a Senior Writer on the banking team at Tax Assistant. He provides information on budgeting, bank accounts, the banking industry, and other related topics. Using original data and methodologies, he helps you identify the best financial institutions, accounts, and products tailored to your needs. Manoj holds a degree in Journalism and Political Science from Syracuse University. All articles are strictly reviewed and fact-checked by our panel of expert Chartered Accountants, including CA Devendra Saini, CA Nikhil Khunteta, and CA Ankit Goyal
