08/27/2026
📊 Mortgage rates, explained.
Right now, the national average is sitting at 6.65% for a 30-year fixed mortgage, down from 6.67% last year.
Do you know how much savings that is. If you were to get a $500,000 mortgage, you would save $6.60/month compared to last week, enough to buy that coffee at your local Bagelman.
Does national average mean that's what you will pay? Unfortunately, not always
Your personal rate depends on:
🔹 Credit score — higher usually means lower rates
🔹 Down payment — more down can mean a better rate. It also could mean no PMI (Private Mortgage Insurance)
🔹 Loan type & term. 15-year loans typically beat 30-year rates (but will be a higher monthly payment)
🔹 Points paid upfront. Did you know you you can buy your rate down?
🔹 Your lender. Rates vary, so shop around!
The headline number you see in the news is a starting point, not a quote. If you want to know what you'd actually qualify for, that's a conversation with a lender — and I'm happy to point you toward a few good ones.
