Mortgage and refinance rates today, Monday, July 20, 2026: Purchase rates move higher than refi rates

Personal Finance / Mortgages Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure . Mortgage and refinance rates today, Monday, July 20, 2026: Purchase rates move higher than refi rates Tim Manni · Mon, July 20, 2026 at 12:00 PM GMT+2 6 min read According to rates from the Zillow lender marketplace, current purchase mortgage rates are now higher than refinance rates.

The current 30-year fixed-rate purchase loan is the same as the current 30-year refinance rate at  6. 48% . The 15-year fixed-rate purchase is 16 basis points higher at 5.

90% . Finally, the 5/1 ARM purchase is 18 basis points higher today at 6. 46% .

Read more: Weekly survey of mortgage lenders with the lowest rates: Rates bubble higher Today's mortgage rates Here are the current mortgage rates today, Monday, July 20, 2026 , according to the latest Zillow data: 30-year fixed: 6. 48% 20-year fixed: 6. 18% 15-year fixed: 5.

90% 5/1 ARM: 6. 46% 7/1 ARM: 6. 35% 30-year VA: 5.

93% 15-year VA: 5. 47% 5/1 VA: 5. 75% Remember, these are the national averages and are rounded to the nearest hundredth.

Read more: Discover 8 strategies for getting the lowest mortgage rates Today's mortgage refinance rates These are today's mortgage refinance rates, Monday, July 20, 2026 , according to the latest Zillow data: 30-year fixed: 6. 48% 20-year fixed: 6. 26% 15-year fixed: 5.

74% 5/1 ARM: 6. 28% 7/1 ARM: 6. 36% 30-year VA: 5.

80% 15-year VA: 5. 70% 5/1 VA: 5. 58% Again, the numbers provided are national averages rounded to the nearest hundredth.

Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case. Learn more: Read about the best mortgage refinance lenders right now Mortgage payment calculator You can use the free Yahoo Finance mortgage calculator below to play around with how different terms and rates will affect your monthly payment. Our calculator considers factors like property taxes and homeowners insurance when estimating your monthly mortgage payment.

This gives you a better idea of your total monthly payment than if you just looked at mortgage principal and interest. This embedded content is not available in your region. You can bookmark the Yahoo Finance mortgage payment calculator and keep it handy for future use, as you shop for homes and the best mortgage lenders .

30-year mortgage rates today Today's average 30-year mortgage rate is 6. 48% . A 30-year term is the most popular type of mortgage because by spreading out your payments over 360 months, your monthly payment is relatively low.

If you had a $300,000 mortgage with a 30-year term and a 6. 34% rate, for example, your monthly payment toward the principal and interest would be about $1,864. 75 , and you'd pay $371,309 in interest over the life of the loan.

15-year mortgage rates today The average 15-year mortgage rate is 5. 90% today. Several factors must be considered when deciding between a 15-year and 30-year mortgage .

A 15-year mortgage comes with a lower interest rate than a 30-year term. This is great in the long run because you'll pay off your loan 15 years sooner, and that's 15 fewer years for interest to compound. However, your monthly payments will be higher because you're squeezing the same debt payoff into half the time.

If you get that same $300,000 mortgage with a 15-year term and a 5. 90% rate, for example, your monthly payment would jump to $2,515. 39 .

But you'd only pay $152,770 in interest over the life of the loan. That's a sizable savings. Learn more: How much house can I afford?

Use our home affordability calculator. Adjustable mortgage rates With an adjustable-rate mortgage , your rate is locked in for a set period and then adjusts periodically. For example, with a 5/1 ARM, your rate stays the same for the first five years, then changes every year.

Adjustable rates usually start lower than fixed rates, but you run the risk that your rate will go up once the introductory rate-lock period is over. But an ARM could be a good fit if you plan to sell the home before your rate-lock period ends — that way, you pay a lower rate without worrying about it rising later. Lately, ARM rates have occasionally been similar to or higher than fixed rates.

Before dedicating yourself to a fixed or adjustable mortgage rate, be sure to shop around for the best lenders and rates. Some will offer more competitive adjustable rates than others. How to get a low mortgage rate Mortgage lenders typically offer the lowest mortgage rates to people with higher down payments, excellent credit scores, and low debt-to-income ratios.

So if you want a lower rate, try saving more, improving your credit score , or paying down some debt before you start shopping for homes. You can also buy down your interest rate permanently by paying for discount points at closing. A temporary interest rate buydown is also an option — for example, maybe you get a 6.

25% rate with a 2-1 buydown. Your rate would start at 4. 25% for year one, increase to 5.

25% for year two, then settle in at 6. 25% for the remainder of your term. Just consider whether these buydowns are worth the extra money at closing.

Ask yourself if you'll stay in the home long enough that the amount you save with a lower rate offsets the cost of buying down your rate before making your decision. Mortgage rates today: FAQs What are interest rates today? Here are interest rates for some of the most popular mortgage terms: According to average mortgage rates from the Zillow lender marketplace, the current 30-year fixed rate fell by 4 basis points to 6.

48% , the 15-year fixed rate fell by 5 basis points to 5. 90%, and the 5/1 ARM fell by 29 basis points to 6. 46% .

What is a normal mortgage rate right now? A normal mortgage rate on a 30-year fixed loan is 6. 48% .

However, keep in mind that it's the national average based on Zillow data. Zillow's rates are usually slightly different than those reported by Freddie Mac and elsewhere. Each source compiles rates using different methods and reports them for different time frames.

Zillow obtains rates from its lender marketplace and reports them daily, while Freddie Mac pulls information from loan applications submitted to its underwriting system, which are averaged for the week. The average mortgage rate might be higher or lower depending on where you live in the U. S.

, and of course, your credit score. Will mortgage rates fall? According to the latest forecasts, the MBA expects the 30-year mortgage rate to be between 6.

4% and 6. 5% through 2026. Fannie Mae predicts a 30-year rate of 6.

4% through the end of the year. More from Yahoo Scout How do purchase rates compare to refinance rates? What do experts forecast for future mortgage rates?

What factors affect getting the lowest mortgage rates? What are current mortgage rates for different loan types? Read More Is now a good time to refinance your mortgage?

5 things to consider following the Fed rate pause. Mortgage rates are down more than a half point since the end of last May, sparking a more than 62% increase for refinance applications year over year. Does that mean now is a good time to refinance your mortgage?

Want to refinance your house before the end of 2026? What you need to know. Mortgage rates are down, so refinancing soon could be a good idea.

Here's what you should know if you want to refinance your mortgage loan in early 2026. 7 types of mortgage refinance options There are several types of home refinance options, including cash-out, no-closing-cost, and more. Learn which type of refinance is best for your financial goals.

How are people affording houses in today's market? 10 expert-backed tips for buyers. With elevated home prices and mortgage rates, buying a home can feel like an impossible goal to achieve.

Yet plenty of people are buying. Here are some expert-backed tips for affording a home in today's market. Is now a good time to get a VA loan?

With today’s high mortgage rates and home prices, it is a good time to get a VA loan. You’ll pay a lower rate with no down payment. Learn about getting a VA loan now.

Zillow Home Loans review 2026 Zillow Home Loans isn't just a marketplace — it's also a mortgage lender with conventional, FHA, and VA loans, to name a few. Learn more about Zillow as a lender.