Mortgage Rates Today: Daily 30-Year Rate 6.64% Aug 15 2026

Mortgage Rates Today: What’s Trending

Rates dipped a single basis point today, to 6.64%, down from yesterday’s 6.65%. That barely moves the needle: on a $400,000 loan, principal and interest runs $2,565 a month. Still, homebuyers are debating whether to lock now or wait out August for a bigger drop.

Mortgage rates today in context

A year ago, the 30-year sat at 6.57%. That gap shapes how buyers read mortgage rates today, especially anyone who paused their search last summer hoping for relief. Small daily swings matter less than that longer trend.

What to do right now

If you close within 30 days, lock in this week. Waiting rarely pays off when rates sit this close to flat, and a bad week could erase the savings fast.

Where Mortgage Rates Today Are Headed

The 30-year fixed slipped a single basis point today, to 6.64% from yesterday’s 6.65%. That’s a rounding error against a month that ranged from 6.46% to 6.72%. The climb has stalled.

Catalysts for mortgage rates today

Mortgage rates today still track the 10-year Treasury yield, plus a spread that lenders charge for prepayment risk. When mortgage-backed securities lose value, that spread widens and your rate rises. Inflation expectations feed both: hotter forecasts push Treasury yields up, and MBS investors demand more yield to compensate.

What is most likely from here

A drop this week needs softer inflation data to cool those yields. An increase needs inflation readings that show price pressure sticking around. Given the 30-day range topped out near 6.72%, lock now if your closing falls within two weeks.

News Moving Mortgage Rates Today

The Fed holds its federal funds rate at 3.50%–3.75%, and that stance still drives the 10-year Treasury yield that sets mortgage pricing. Inflation sits at 3.5% annually, with core CPI at 2.8% and core PCE at 3.3%. Unemployment reads 4.1%. Until inflation breaks lower, the Fed has little reason to cut, and your 6.64% rate reflects that standoff.

What’s moving mortgage rates today

Watch September 4 for the next jobs report and September 11 for the Consumer Price Index report for July. A soft jobs number or a cooler CPI print would pull yields down fast, and your rate would follow. A hot reading on either does the opposite: it pushes the next Fed cut further out and keeps mortgage rates pinned near current levels. Mark September 16 on your calendar too, since that meeting will set the tone for where rates head next.

What Mortgage Rates Today Mean for Homebuyers

That $400,000 loan at 6.64% runs $2,565 a month in principal and interest. A year ago the 30-year was 6.57%, so the same loan cost $2,547 a month, that is $18 less per month, or $216 a year, than today. That $18 gap looks small now, but it compounds over a 30-year term.

Lock or float at mortgage rates today

If your closing is within 45 days, lock. Rates can reverse fast on any inflation surprise. Ask your lender about a float-down option, which lets you capture a lower rate before closing if rates drop after you lock. If you have 60+ days, float. Watch incoming data and stay ready to lock fast.

Smart shopping moves

Recalibrate your price target at 6.64%, and stress-test it at 6.89%, where the payment hits $2,632. Shop three lenders: a quarter-point spread on $400,000 swings your payment by about $65 a month. Ask for seller concessions to cover closing costs, or a temporary buydown that cuts your first-year rate by a full point.

Mortgage Rates Today for First-Time Homebuyers

A $300,000 starter home with 5% down means borrowing $285,000. At 6.64%, principal and interest alone runs $1,828 a month. Meanwhile, layer on property taxes, insurance, and private mortgage insurance (PMI), and your total payment climbs near $2,400 a month.

First-time buyers and mortgage rates today

That payment stretches many first-time budgets at today’s rates. Federal Housing Administration (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 rural areas. In addition, state housing finance agencies often beat market rates by 0.25 to 0.75 percentage points, plus down-payment grants.

How to compete and win

Pre-qualification takes a phone call and a few self-reported numbers. Pre-approval means a lender verifies your income, assets, and credit before issuing a letter. Still, in a multiple-offer situation, sellers favor that verified pre-approval over a quick pre-qualification. The right home at the right price beats a slightly lower rate on a house that doesn’t fit.

What Mortgage Rates Today Mean for Refinancers

Anyone who purchased between 2022 and early 2024 at rates above 7% has a real opportunity. A $350,000 loan moving from 7.25% to 6.64% cuts your payment from $2,388 to $2,245. That is $143 a month, and $51,500 saved in interest over the loan’s life.

Refinancing at mortgage rates today

Closing costs run $3,000 to $6,000, depending on your lender. At $143 a month, you recover $3,000 in about 21 months and $6,000 in about 42 months. Even so, shop aggressively: lender rates can swing 0.25% to 0.50% on the same day.

Cash-out versus rate-and-term

Cash-out refinancing to erase high-interest credit-card debt is a smart trade, since card rates often exceed 20%. Keep new card balances at zero after you close, or the debt just comes back with a mortgage attached to it. If your current rate sits above 7%, mortgage rates today make a rate-and-term refinance worth locking now.

Mortgage Rates Today for Real Estate Investors

Investor loans carry a surcharge of 0.50 to 0.75 percentage points over primary rates. That pushes pricing on a rental purchase to 7.24%. On a $300,000 property with 25% down, your $225,000 loan runs $1,533 a month in principal and interest.

Investors and mortgage rates today

Higher borrowing costs push out owner-occupants who need every basis point to qualify. That thins your competition at the offer table. Focus your underwriting on gross rent multipliers, cap rates, and cash-on-cash returns instead of chasing the rate.

Alternative financing options

DSCR loans, underwritten on rental income rather than your personal tax returns, price between 7.25% and 7.75% right now. Hard money and bridge loans for fix-and-flip projects run 10% to 12% short-term. Model every deal at today’s actual financing cost, then walk away if the numbers don’t clear your return threshold.

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

A $350,000 loan at 6.64% over 30 years runs $2,245 a month. Shrink the term to 15 years at 5.91%, and the payment jumps to $2,937. That gap buys you a faster payoff: total interest falls from $458,042 to $178,571, a lifetime savings of $279,471.

Who the 15-year fits

The 15-year suits someone further along in their career, with steady income and cash reserves to spare. If a job loss or medical bill wouldn’t force you to skip a payment, the higher monthly cost is manageable. At 5.91%, that shorter term becomes a powerful wealth-building tool.

Why most pick the 30-year

For most buyers, the 30-year is the smarter play. Its lower payment protects your cash flow for emergencies, retirement accounts, and life’s surprises. Add one extra principal payment a year and you capture much of the 15-year’s interest savings anyway. If you’re a first-time buyer stretching your budget to close, the 30-year is almost always the more prudent choice.

Mortgage Programs & Assistance

FHA loans still open doors at 6.64% conventional rates. Put down 3.5% with a 580 credit score, or 10% if your score sits between 500 and 579. Government insurance lowers lender risk, so FHA rates often run 0.2% to 0.3% below conventional.

VA and USDA advantages

VA and USDA loans go criminally underused. VA loans need zero down, skip PMI entirely, and price 0.25% to 0.50% below conventional. USDA covers zero-down purchases in eligible rural and suburban areas, a wider map than most buyers assume.

State and local programs

State housing finance agencies quietly beat the market too. Many offer rates 0.25% to 0.75% below going rates, plus down-payment assistance grants. Income limits often stretch past $120,000, catching more households than you’d guess. Spend an hour on your state agency’s website before you decide 6.64% has priced you out.

Mortgage Rates Today: The Bottom Line

Mortgage rates today ticked down 1 basis point, from 6.65% to 6.64%. That puts the 30-year closer to the top of its 30-day range of 6.46% to 6.72%. If you’re closing within 30 to 45 days, lock now.

Mortgage rates today: your move

Homebuyers should get a formal quote today and model payments at 6.64%, which runs $2,565 on a $400,000 loan. Even so, refinancers still parked above 7% should run a break-even calculation now, not next week. Meanwhile, investors should hold the line on cash flow fundamentals rather than chase a 1 basis point dip.

What to watch next

Watch no major economic releases for the next data release that could move rates again. A hotter print pushes yields and rates higher, while a cooler one gives the Fed room to ease. Stay in contact with your lender and make sure you understand your lock window before any key data releases.