Current Mortgage Rates: August 2026

What these mortgage-rate averages mean

Freddie Mac's Primary Mortgage Market Survey uses mortgage-rate information from thousands of conventional, conforming purchase applications submitted through Loan Product Advisor. The published figure is a national weekly average. Your quote can differ based on credit, loan-to-value ratio, property, occupancy, loan size, points, lender and lock period.

The August 6 average increased from 6.66% the prior week. A one-week move is not a forecast. Compare a lender's annual percentage rate, points, lender fees and cash to close—not only the note rate.

How a rate change affects a payment

A higher rate increases principal-and-interest expense for the same balance and term. Taxes, homeowners insurance, mortgage insurance and HOA fees must be added separately. Use the mortgage calculator to test a quoted rate and the affordability calculator to keep debt and cash assumptions visible.

When a refinance deserves a closer look

A lower proposed rate is only one input. Compare closing costs, points, payment savings, remaining loan term and how long you expect to keep the loan. The refinance calculator estimates a simple break-even month from your own quote and cost assumptions.

Source and update policy

Source: Freddie Mac Primary Mortgage Market Survey. PMMS is generally published weekly. This page shows the source date prominently and should be refreshed after each new release; it does not predict future rates or represent an offer to lend.