Mortgage Rates Rise for Second Consecutive Day

The 30-year fixed mortgage rate increased by 8 basis points to reach 6.91% on Saturday, September 12, 2026. This marks the second consecutive day of rising costs for home buyers. The 15-year fixed rate saw a sharper jump, climbing 14 basis points to 6.37%.

According to Zillow lender marketplace data, these national averages reflect a broader tightening in credit conditions. The 5/1 adjustable-rate mortgage also edged up by 1 basis point to 6.85%. Lenders are adjusting their pricing in response to current yield curves.

Current Fixed Rate Averages

Fixed-rate options show varied movements across different term lengths. The 20-year fixed rate stands at 6.79%. VA loan options for the 30-year term are priced at 6.26%, while the 15-year VA rate is 5.84%.

Refinance rates generally track purchase rates but can differ slightly. The 30-year fixed refinance rate is also at 6.91%. The 15-year fixed refinance rate is slightly lower than the purchase rate at 6.29%.

Adjustable Rate Mortgage Movements

Adjustable-rate products show modest changes in today’s session. The 7/1 ARM is currently priced at 6.60%. The 5/1 ARM for VA loans is available at 5.89%. These rates offer lower initial payments compared to fixed-term alternatives.

Long-Term Loan Payment Implications

Choosing a 30-year fixed term results in lower monthly payments than shorter terms. However, borrowers pay more total interest over the life of the loan. A 15-year fixed loan carries a lower interest rate but requires higher monthly outlays.

GN auto markets/bonds: interest rates data indicates that short-term borrowing costs remain elevated. The 15-year term allows borrowers to pay off the loan fifteen years sooner. This structure reduces the total interest cost significantly despite the higher monthly payment.