Mortgage and refinance interest rates today, Tuesday, July 21, 2026: Inching lower

According to the Zillow lender marketplace, the average 30-year fixed rate is 6.402%, down 8.2 basis points since yesterday. The 15-year fixed loan is currently at 5.866%, 3.2 basis points lower than yesterday. The 5/1 ARM is 6.399%, 6.5 basis points lower than on Monday.

Weekly survey of mortgage lenders with the lowest rates: 6% is back (without fees)

Today’s mortgage rates

Here are the current mortgage rates, according to our latest Zillow data, for Tuesday, July 21, 2026:

• 30-year fixed: 6.402%

• 20-year fixed: 6.244%

• 15-year fixed: 5.866%

• 5/1 ARM: 6.399%

• 7/1 ARM: 6.346%

• 30-year VA: 5.853%

• 15-year VA: 5.659%

• 5/1 VA: 5.725%

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, July 21, 2026:

• 30-year fixed: 6.444%

• 20-year fixed: 6.524%

• 15-year fixed: 5.847%

• 5/1 ARM: 6.215%

• 7/1 ARM: 6.227%

• 30-year VA: 5.91%

• 15-year VA: 5.761%

• 5/1 VA: 5.545%

Again, the numbers provided are national averages rounded to the nearest hundredth. Refinance rates are usually higher than purchase rates.

MORE: See our top picks for mortgage lenders right now

Yahoo Finance 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 Yahoo Finance 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.

Learn more: Discover how to get the lowest mortgage rates

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.

Learn more: Determine how to choose between an adjustable-rate vs. fixed-rate mortgage

Mortgage rates today: FAQs

What is today’s 30-year fixed rate?

According to the Zillow lender marketplace, the average 30-year fixed rate is 6.402%, down 8.2 basis points since yesterday.

Will mortgage rates go down in 2026?

According to the latest forecasts, the MBA expects the 30-year mortgage rate to be near 6.50% through 2026. Fannie Mae predicts a 30-year average rate of 6.4% for the rest 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 6.5% for all of 2027. However, Fannie Mae is slightly more optimistic and predicts average rates to hold near 6.3% for most of 2027.