Will Interest Rates Go Down in September? | Predictions 2026

Mortgage rate forecast for next week (August 31 - September 4)

Mortgage rates held nearly flat this week, with the 30-year fixed inching up by a single basis point from the prior week.

Freddie Mac’s Primary Mortgage Market Survey put the 30-year fixed at 6.66% on August 27, 2026, up from 6.65% a week earlier. The 15-year fixed came in at 5.98%.

“Mortgage rates changed little this week averaging 6.66%,. The economy remains resilient, demonstrated by steady consumer spending and rising household incomes. More homes coming on the market and slower price growth in many areas are giving buyers better options and helping create a more balanced housing market.” — Sam Khater, Chief Economist at Freddie Mac

The latest borrowing activity

The 30-year fixed sits at 6.66%, matching where it stood four weeks ago at 6.66%.

Three months ago, the 30-year fixed averaged 6.53%, so rates are modestly higher than that point.

One year ago, the same rate stood at 6.56%, roughly 10 basis points below the current reading.

That leaves borrowers in a market that has drifted within a narrow band over the past several weeks.

• Will rates go down in September?
• 90-day forecast
• Expert rate predictions
• Mortgage rate trends
• Rates by loan type
• Mortgage strategies for September
• Mortgage rates FAQ

Will mortgage rates go down in September?

The 30-year fixed enters September at 6.66%, close to where it has traded through the late summer. Rates have moved within a tight range, with weekly changes measured in single basis points.

- Dave Meyer, Chief Investment Officer at BiggerPockets

The September calendar carries three events that can move rates. The CPI report lands on September 10, the FOMC meeting runs September 15-16, and the PCE report follows on September 25. Each release will give markets a fresh read on inflation and the path for policy.

The Federal Reserve held its policy rate steady at its April 29, 2026 meeting, and the September decision is the next key marker for rate direction. Mortgage rates often move ahead of the meeting as traders position around the expected outcome.

For September, rates look likely to stay broadly flat to modestly lower. They are expected to hold above the major housing authorities’ 6.400% Q2 2026 quarterly-average forecast rather than fall to that level within the month.

Expert mortgage rate predictions for September

Lawrence Yun, Chief Economist at National Association of Realtors

Home sales have been remarkably stable, even amid the rising mortgage rate environment of the past few months

Ted Rossman, Senior Industry Analyst at Bankrate

I expect the average 30-year fixed rate to fall below 6% for the first time since the summer of 2022

Mortgage interest rates forecast next 90 days

The Fed’s policy path anchors the outlook for the next 90 days. The central bank held steady on April 29, 2026, and its September 15-16 meeting is the next decision point markets are watching.

Inflation data will shape expectations between now and then. The CPI release on September 10 arrives from the Bureau of Labor Statistics, and the PCE release on September 25 comes from the Bureau of Economic Analysis. Both reports feed directly into how traders price the odds of future rate moves.

Borrowers watching for rate movement should track these dates. A cooler CPI print on September 10 could pull rates lower, while a hotter reading could push them up ahead of the FOMC meeting.

Mortgage rate predictions for September 2026

The table below shows the Q2 2026 quarterly-average forecasts published by two major housing authorities. These are projections for a quarterly average, offered here only as loose directional context.

Both Fannie Mae and the Mortgage Bankers Association forecast 6.40% for the Q2 2026 quarterly average, producing an average of 6.400%. With both at the same figure, there is no separate high or low forecaster in this set. That level sits below the current 30-year reading, but it reflects a quarterly-average projection rather than a September monthly number.

Current mortgage interest rate trends

Freddie Mac’s latest survey, dated August 27, 2026, put the 30-year fixed at 6.66%. The 15-year fixed averaged 5.98% in the same report.

That marks a one basis point increase from the prior week’s 6.65% on the 30-year fixed. Week-over-week movement has been small.

Over the past several weeks, the 30-year fixed has hovered near the mid-6% range. Four weeks ago it stood at 6.66%, the same as today.

Source: Freddie Mac

Looking back further, rates averaged 6.53% three months ago and 6.56% one year ago. The current reading is slightly above both of those marks.

You can review the long-term path in our guide to 30-year mortgage rate history, which charts how rates have shifted over time.

The near-term trajectory depends on the September data calendar and the FOMC decision. Until those events land, rates look likely to stay in their recent range.

Mortgage rate forecast by loan type

Rates vary by loan program, and the right fit depends on your down payment, credit profile, and eligibility. Here is how the main loan types stack up this month.

30-year fixed

The 30-year fixed averaged 6.66% in Freddie Mac’s August 27 survey. It remains the most common choice for buyers who want a predictable payment spread over a long term.

If you plan to stay in the home for many years, the stability of a fixed payment can be worth the higher rate compared with shorter terms. Compare offers from several lenders before you commit.

The 15-year fixed averaged 5.98% in the same survey, below the 30-year rate. The tradeoff is a higher monthly payment in exchange for less interest paid over the life of the loan.

This term can suit borrowers with room in their budget who want to build equity faster. Run the numbers on the monthly payment before deciding.

Jumbo loans exceed conforming loan limits and often carry different pricing than standard loans. Lenders may apply stricter credit and reserve requirements.

If you are financing a higher-priced home, request quotes specific to jumbo programs. Pricing can differ meaningfully from lender to lender.

Mortgage rate strategies for September 2026

With the 30-year fixed at 6.66% and the September 15-16 FOMC meeting ahead, rates look likely to stay broadly flat to modestly lower this month. That backdrop shapes how you approach a purchase or refinance.

Rates have held within a narrow band through the summer, so waiting for a large drop may not pay off in the short term. The CPI report on September 10 and PCE report on September 25 could nudge rates in either direction.

The strategies below can help you act with the current market in mind rather than trying to time a bottom.

Focus on the parts of the process you control, including your credit, your loan type, and how many lenders you compare.

Rate lock strategy

A rate lock protects your quoted rate for a set period while your loan closes. With rates near 6.66% and key data due mid-month, locking removes the risk of a jump before the FOMC meeting.

If you are comfortable with the current rate and close to closing, locking can make sense. Ask your lender about float-down options in case rates fall.

Refinancing makes sense when the new rate and terms improve your financial position enough to cover closing costs. Compare your current rate against today’s 6.66% before you move.

Calculate your break-even point, the time it takes for monthly savings to offset upfront costs. If you plan to stay past that point, a refinance may be worth exploring.

Buyers face a market where more homes are coming online and price growth has slowed in many areas. That can widen your options and give you room to negotiate.

Refinance timing

Get preapproved so you know your budget at current rates. A preapproval also signals to sellers that you are ready to move.

Your credit profile helps determine the rate a lender offers, so improving it before you apply can lower your cost. Small steps taken early can add up.

Lenders weigh more than your personal profile when setting rates.

Pay down credit card balances to lower your utilization | Avoid opening new credit lines before you apply | Check your credit reports for errors and dispute them | Make every payment on time in the months before applying

Home buying strategy

As Andrew Dehan of Bankrate explains, pricing reflects factors beyond your own finances.

Comparing quotes from several lenders lets you find the best combination of rate and business terms for your situation.

• Your credit score and credit history
• Your personal finances
• Your down payment (if buying a home)
• Your home equity (if refinancing)
• Your loan-to-value ratio (LTV)
• Your debt-to-income ratio (DTI)

To figure out what rate a lender can offer you based on those factors, you have to fill out a loan application. Lenders will check your credit and verify your income and debts, then give you a ‘real’ rate quote based on your financial situation.

You should get three to five of these quotes at a minimum, then compare them to find the best offer. Look for the lowest rate, but also pay attention to your annual percentage rate (APR), estimated closing costs, and ‘discount points’ — extra fees charged upfront to lower your rate.

This might sound like a lot of work. But you can shop for mortgage rates in under a day if you put your mind to it. And shaving just a few basis points off your rate can save you thousands.

Mortgage interest rate FAQ

What are today’s mortgage rates?

Mortgage rates are rising, but borrowers can almost always find a better deal by shopping around. Connect with a mortgage lender to find out exactly what rate you qualify for.

¹Today's mortgage rates are based on a daily survey of select lending partners of The Mortgage Reports. Interest rates shown here assume a credit score of 740. See our full loan assumptions here.

Selected sources:

• https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
• http://www.freddiemac.com/research/datasets/refinance-stats/index.page