Mortgage rates declined heading into the weekend of September 5, 2026, according to national averages from the Zillow lender marketplace.

The current 30-year fixed rate fell by 4 basis points to 6.67%. The 15-year fixed rate decreased by 10 basis points to 6.04%, while the 5/1 ARM fell by 39 basis points to 6.64%. This follows a previous day in which the 5/1 ARM was up 39 basis points.

Mortgage Type Comparisons

The characteristics of different mortgage products vary based on term and structure:

• 30-year fixed mortgage: Offers lower and predictable monthly payments by spreading repayment over a longer period, though it carries higher interest costs over the life of the loan compared to shorter terms.
• 15-year fixed mortgage: Provides lower interest rates and allows borrowers to pay off the mortgage sooner, but results in higher monthly payments.
• 5/1 ARM: Features an introductory rate that is usually lower than a 30-year fixed rate. The rate remains the same for the first five years before adjusting annually for the remaining 25 years.

Current forecasts for the 30-year mortgage rate include a range of 6.6% to 6.7% through 2026 from the MBA, and a range of 6.7% to 6.8% through the end of the year from Fannie Mae.