Mortgage Rates Today: Daily 30-Year Rate 6.64% Aug 11 2026

Mortgage Rates Today: What’s Trending

Rates dropped 5 basis points overnight, landing at 6.64% today. On a $400,000 loan, that shift puts principal and interest at $2,565 a month. Homebuyers are weighing whether to lock now or wait for a deeper drop before summer inventory tightens further.

Mortgage rates today in context

Mortgage rates today sit well below where they stood a year ago, when the 30-year averaged 6.60%. That gap changes the math on refinance breakeven timelines for anyone who bought last summer. Even a modest pullback from yesterday’s 6.69% reshapes competition for move-in-ready listings.

What to do right now

If you plan to close within 30 days, act on this dip before it closes. Get your rate quote refreshed this week before pricing shifts again.

Where Mortgage Rates Today Are Headed

The 30-year fixed rate eased to 6.64% today, down from yesterday’s 6.69%. That drop follows a 30-day span between 6.41% and 6.72%, and the broader path still points up. Mortgage rates today sit closer to the top of that range than the bottom.

Catalysts for mortgage rates today

The 10-year Treasury yield drives this move, since lenders price mortgage-backed securities off that benchmark plus a risk premium. When bond investors demand more yield to hold inflation risk, that premium widens and your rate climbs. Sticky inflation expectations have kept that spread wide all summer.

What is most likely from here

A further increase looks more likely than a drop this week. If Treasury yields hold near current levels or inflation data runs hot, expect the 30-year to drift back toward 6.70%. A meaningful decline would need a clear cooling signal in yields; absent that, lock now rather than float.

News Moving Mortgage Rates Today

The Fed holds its benchmark rate at 3.50%–3.75%, and that stance still drives your mortgage quote today. Treasury yields track the Fed’s inflation fight, and inflation remains sticky at 3.7% annually, with core prices up 2.8%. Unemployment sits at 4.1%, giving policymakers little urgency to cut. Until that combination shifts, 6.64% has room to climb further.

What’s moving mortgage rates today

Watch August 12, when the Consumer Price Index report for July lands. A hotter print pushes yields, and your rate, higher. September 4 brings fresh payroll numbers, and a strong labor market argues against Fed cuts. The next Fed meeting on September 16 will show whether officials still see two sides to this fight, or just one.

What Mortgage Rates Today Mean for Homebuyers

A $400,000 loan at 6.64% runs $2,565 a month in principal and interest. Last year, the 30-year averaged 6.60%, pricing that same loan at $2,555. That gap saves you $11 a month, or $127 a year, compared with last year’s rate.

Lock or float at mortgage rates today

If your closing is within 45 days, lock now, since even a small rate swing moves your payment. With 60-plus days, floating may work while you wait for inflation to cool. Even so, ask about a float-down option, which locks today’s rate but lets you grab a lower one before closing.

Smart shopping moves

Recalibrate your price target at 6.64%, then stress-test it at 6.89%, where that $400,000 loan jumps to $2,632 a month. Shop three lenders: a 0.25% difference in your quote can save $60 a month. Ask sellers for closing-cost concessions, or negotiate a temporary buydown that trims your rate a full point in year one.

Mortgage Rates Today for First-Time Homebuyers

On a $300,000 home with 5% down, you finance $285,000. At 6.64%, principal and interest runs $1,828 a month. Taxes, insurance, and PMI push your total housing payment past $2,600, a stretch for most first-time budgets.

First-time buyers and mortgage rates today

FHA loans require just 3.5% down with a credit score of 580 or higher. VA loans offer zero down for eligible veterans, and USDA loans do the same in eligible rural areas. State housing finance agencies often pair rates 0.25 to 0.75 points below market with down-payment grants.

How to compete and win

Pre-qualification is a quick estimate based on stated income and debt. Full underwriting pre-approval verifies pay stubs, tax returns, and bank statements upfront. Even so, that extra step gives sellers confidence in a multiple-offer situation. The right home at the right price often matters more than waiting for a perfect rate.

What Mortgage Rates Today Mean for Refinancers

Mortgage rates today sit at 6.64% on the 30-year fixed. Anyone who purchased between 2022 and early 2024 at rates above 7% has a real opportunity. On a $350,000 balance, your payment falls from $2,388 to $2,245. That’s a savings of $143 a month, or $51,500 over the loan’s life.

Refinancing at mortgage rates today

Refinancing costs $3,000 to $6,000 in closing fees. At $143 a month, you recoup the $3,000 tier in about 21 months and the $6,000 tier in about 42 months. Shop lenders hard, since quotes can vary 0.25% to 0.50% for the same borrower.

Cash-out versus rate-and-term

Cash-out refinancing to pay off high-interest credit-card debt makes compelling math, especially with cards charging 22% or more. Using cash-out for discretionary spending calls for more caution. If you’re still above 7% on a rate-and-term loan, moving now locks in meaningful savings.

Mortgage Rates Today for Real Estate Investors

Investor loans carry a surcharge of 0.50 to 0.75 percentage points over the primary rate. That puts you near 7.24% today. On a $300,000 rental with 25% down, your $225,000 loan runs $1,533 a month in principal and interest.

Investors and mortgage rates today

Elevated rates push rate-sensitive owner-occupants out of the bidding, thinning your competition on entry-level rentals. Use that breathing room to underwrite hard: check the gross rent multiplier, run your cap rate, and confirm cash-on-cash return before you write an offer.

Alternative financing options

Conventional financing isn’t your only path. DSCR loans, underwritten on the property’s rental income rather than your personal tax returns, price around 7.25% to 7.75% right now. Fix-and-flip investors using hard money or bridge loans should expect 10% to 12% for short-term capital. Model every deal at today’s actual numbers, and move forward only if the math clears at today’s cost of capital.

15-Year vs 30-Year: Which Is Right for You?

On a $350,000 loan, the 30-year at 6.64% runs $2,245 a month. The 15-year at 5.95% costs $2,944 a month. As a result, total interest falls from $458,042 to $179,929, a savings of $278,112.

Who the 15-year fits

The 15-year suits borrowers later in their careers, with stable income and little emergency risk. Even so, that payment leaves little cushion for a job loss or medical bill. At 5.95%, it works as a powerful wealth-building tool for the right household.

Why most pick the 30-year

By contrast, the 30-year’s lower payment preserves cash flow for retirement savings, home repairs, or a rainy day fund. Add one extra principal payment a year and you capture much of the 15-year’s benefit anyway. For first-time buyers stretching to buy, the 30-year is almost always the more prudent choice.

Mortgage Programs & Assistance

At 6.64%, FHA loans still open the door with 3.5% down for credit scores of 580 or higher. Scores between 500 and 579 need 10% down instead. FHA rates typically run 0.2% to 0.3% below conventional loans, since government insurance lowers the lender’s risk.

VA and USDA advantages

VA and USDA loans go further, and both sit significantly underutilized. VA loans require no down payment and no PMI, with rates running 0.25% to 0.50% below conventional. USDA loans offer zero-down financing in eligible rural and suburban areas, which cover more of the country than most buyers assume.

State and local programs

State housing finance agencies round out the picture. Many offer rates 0.25% to 0.75% below market, plus down-payment assistance, with income limits often reaching $120,000 or higher. Spend an hour on your state agency’s website before you decide a home is out of reach at 6.64%.

Mortgage Rates Today: The Bottom Line

Today’s 30-year rate dropped 5 basis points, from 6.69% to 6.64%. That puts mortgage rates today closer to the bottom of the 30-day range of 6.41% to 6.72% than the top. If you close within 30 to 45 days, lock now. If your closing is 60 days out or more, float with a float-down option so you can capture further drops without losing this level.

Mortgage rates today: your move

Homebuyers should get a formal rate quote today and model payments on your target loan amount, not just the median. A $400,000 loan at 6.64% runs $2,565 a month in principal and interest, so use that as your benchmark for comparison shopping. If you’re refinancing above 7%, run a break-even calculation now: divide your closing costs by the monthly savings to see how many months until this move pays for itself. Investors should hold the line on cap rate and cash flow math rather than chasing a rate dip.

What to watch next

Watch CPI inflation report (Aug 12) for the next catalyst that could move rates in either direction. A hotter-than-expected reading would push yields and mortgage rates back up toward 6.72%. A cooler print would open the door toward the low end of the current range. Stay in contact with your lender and make sure you understand your lock window before any key data releases.