US 30-year mortgage rate hits 6.81 percent

The average interest rate for a 30-year fixed-rate conforming mortgage increased to 6.810 percent on Thursday, September 10, 2026. This marks a rise from 6.782 percent recorded on the previous business day. Data from the Mortgage Research Center shows this slight upward trend in the US market.

The average rate for a 15-year fixed-rate conforming mortgage also moved higher. It reached 5.979 percent, up from 5.966 percent the day before. Both major fixed-rate benchmarks are now trading at higher levels compared to recent sessions.

Interest costs for standard loans

Borrowing $300,000 over 30 years at the current 6.810 percent rate results in total interest payments of approximately $404,802.25. This calculation uses the federal government’s Office of Financial Readiness mortgage calculator. The figure represents the cumulative cost of capital over the loan's life.

For the same loan amount amortized over 15 years at 5.979 percent, total interest costs are roughly $155,070.11. The shorter term significantly reduces the total interest paid compared to the 30-year option. Monthly payments are higher on the 15-year loan, but the overall cost is lower.

Specialized loan categories move

The average rate on a 30-year jumbo mortgage declined slightly to 6.847 percent from 6.864 percent. Jumbo loans exceed the conforming limits set by the Federal Housing Finance Agency, which stands at $832,750 for 2026 in most areas. This category showed a minor dip while others rose.

Government-backed loan rates generally increased. The 30-year FHA rate rose to 6.162 percent from 6.154 percent. The 30-year VA rate climbed to 6.254 percent from 6.241 percent. The 30-year USDA rate edged up to 6.279 percent from 6.277 percent.

Federal Reserve policy impacts

The Federal Reserve does not set mortgage rates directly but influences them through the federal funds rate. The FOMC held the benchmark range at 3.50 percent to 3.75 percent at its July 28-29 meeting. A future meeting is scheduled for September 15-16, 2026.

Mortgage rates often move in tandem with federal funds rate decisions. When the Fed raises rates, borrowing costs for home loans typically increase. When the Fed cuts rates, mortgage rates generally decline. Market participants are watching the upcoming September meeting for signals on the policy path.