Mortgage and Refinance Rates in 2026: Is Now the Time to Buy?

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Mortgage rates climbed again in September 2026. The 30-year average is now well above where it stood a year ago.

Here are today’s official numbers, what they mean for buying or refinancing, and how to compare offers without hurting your credit.

Quick answer: The average 30-year fixed mortgage rate was 6.95% on September 17, 2026, up from 6.26% a year earlier, according to Freddie Mac. Advertised 30-year rates at large lenders ranged from 6.75% to 7.375% on September 23, 2026, before your own credit and down payment. Buy when the monthly payment fits your budget, not to time the market. Refinance only if the savings repay your closing costs before you move.

Updated on September 23, 2026 · Sources: Freddie Mac PMMS, CFPB

Key takeaways

Rates rose about 0.7 percentage point on 30-year loans over the past year.
Always compare APR, not just the rate: APR includes points and most lender fees.
Advertised rates assume strong credit and 20% down; yours may differ.
Shopping several lenders within 45 days counts as a single credit inquiry.

Mortgage rates today: official averages

Loan type	Sept 17, 2026	One year earlier
30-year fixed	6.95%	6.26%
15-year fixed	6.26%	5.41%

Source: Freddie Mac Primary Mortgage Market Survey, published weekly on Thursdays. Averages of conventional purchase loans for borrowers with good credit and 20% down.

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Advertised lender rates (30-year fixed)

Lender	Rate	APR
Better.com	6.750%	6.992%
Chase Home Lending	6.875%	7.061%
Rocket Mortgage	7.25%	7.511%
Bank of America	7.375%	7.598%

As of September 23, 2026, from each lender’s rate page. Each uses different assumptions, detailed below.

Better.com: sample quote for ZIP 29415 with 2.00 points ($7,006).
Chase: example for a $350,000 loan in ZIP 60629, 80% loan-to-value, with 1.86 discount points.
Rocket Mortgage: rates current as of 6:10 PM UTC, assuming 80% loan-to-value. Its 15-year fixed was 6.5% (6.988% APR).
Bank of America: rates assume a credit score of 740 or higher and 0.670 points. Its 15-year fixed was 6.625% (6.991% APR).

Because points differ, a lower rate is not always the cheaper loan. Compare the APR and the cash due at closing side by side.

What changed vs last year

Higher rates: the 30-year average rose from 6.26% to 6.95%, and the 15-year from 5.41% to 6.26%.
Fast moves: the 30-year average jumped from 6.76% to 6.95% in a single week in September.
Refinance math got harder: if you locked a rate below today’s averages, refinancing now rarely pays off unless you need cash out or must drop a costly loan.

Is now the time to buy?

Nobody can time rates. A better question is whether the payment works today and whether you will stay at least five years. If yes, buying can make sense, and you can refinance later if rates fall. If not, keep renting and build your down payment.

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A bigger down payment and a stronger score lower your rate. See how to reach an 800 credit score, and keep closing-cost cash apart from your emergency fund.

How to apply and compare offers

Request a Loan Estimate from at least three lenders. By law, each must send it within three business days, under the CFPB’s TILA-RESPA Integrated Disclosure rule (“Know Before You Owe”).
Before the Loan Estimate, the only fee a lender may charge is a small fee to pull your credit report.
Do all your shopping within 45 days. The CFPB says multiple mortgage credit checks in that window are recorded as a single inquiry.
Compare rate, APR, points and total closing costs on the same page of each estimate.
Lock your rate once you have a signed purchase contract.

Already own a home and need cash, not a new mortgage? Compare a HELOC vs a home equity loan before a cash-out refinance.

How we compared

Checked: Freddie Mac averages and each lender’s advertised rates on September 23, 2026, on their official pages.
Order: lenders are listed by advertised 30-year rate, lowest first. It is not a ranking, since each lender uses different assumptions.
Independence: no lender paid for placement.

Not financial advice. Rates and terms checked on September 23, 2026 with each provider’s official page; confirm before applying.

FAQ

What is a good mortgage rate right now?

A useful benchmark is the weekly Freddie Mac average: 6.95% for a 30-year fixed on September 17, 2026. An offer near or below that, with few points, is competitive for your profile.

When does refinancing make sense?

When your monthly savings cover the closing costs well before you expect to sell. Divide total costs by monthly savings to find your break-even month.

Does shopping for a mortgage hurt my credit?

Barely. Mortgage credit checks within a 45-day window count as one inquiry, according to the CFPB.

Why is the APR higher than the rate?

APR adds points, most lender fees and mortgage insurance to the interest rate. It shows the fuller yearly cost of the loan.

Should I pay points to lower my rate?

Only if you will keep the loan long enough. One point costs 1% of the loan amount, so compare that cost with the monthly savings.

For the full picture, see our hub Best Personal Loans 2026 (US), the best personal loans of 2026 and personal loans for bad credit that still offer fair terms.

Sources

Ieveera SEO is an independent publisher, not a bank or financial advisor; content is for information only and may include paid affiliate links that never affect our rankings — always confirm current rates and terms with the provider.