Mortgage Rates Ease Slightly | Today, August 7, 2026

Today’s mortgage rates

Mortgage rate pressure eased a bit Friday as the 10-year Treasury yield came in at 4.639%, down 0.8 basis points from 4.647%, and broader coverage pointed to rates falling ahead of the jobs report. Freddie Mac’s 30-year average most recently came in at 6.69%, and the move in Treasuries suggests a slightly better setup for borrowers today.

The broader market still looked cautious, which helps explain why any mortgage-rate improvement may stay modest. The Dow fell 0.85%, the S&P 500 slipped 0.18%, and the Nasdaq edged down 0.06%, while CNN’s Fear & Greed Index came in at 59.6, down 0.8 points, and gold climbed $60.10 to $4,376.10 an ounce.

There was also a counterweight for borrowers: WTI crude came in at $77.11 per barrel, up $1.02 from $76.09, even as the 10-year yield moved lower. Higher oil prices can keep inflation worries in play, which could limit how much mortgage rates improve if bond-market relief fades.

Fed-politics headlines tied to Kevin Warsh are part of the backdrop, but today’s mortgage story still looks more like market positioning ahead of major data than a clean reaction to Washington. For borrowers, that means modest relief is possible today, but not much room to count on a bigger drop yet.

Although rates have elevated from recent lows, see if refinancing makes sense or tapping home equity is prudent. For home buyers, explore expert advice for 2026 and check if you qualify for financial assistance programs or more flexible loan options.

Current mortgage and refinance rates

>Related: 7 Tips to get the best refinance rate

30-year fixed rate mortgage

At the time this was published, the average 30-year fixed mortgage rate reached 6.753%.

The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

Today, the average 15-year fixed mortgage rate went to 6.122%.

The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.

5/1 adjustable-rate mortgage

This morning’s 5/1 adjustable rate mortgage averaged 6.357%.

Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.

What experts are expecting

Ralph DiBugnara, president at Home Qualified

“I expect rates to stay in a relatively similar range as where they ended in March, likely hovering in the low-to-mid 6% range. Current global uncertainty and inflation data will keep volatility in play. Also any rate cuts at all by the Fed may be in jeopardy now so that will keep markets frozen some. Unless we get a clear cooling signal from the Fed, don’t expect a drop. The 30-year fixed should average around 6.25% with the 15 year fixed at 5.875%“

Any specific rate figures above reflect this expert’s personal opinion and forecast. They are illustrative only, are not an offer or commitment to lend, and are not an advertised rate. Your actual rate and APR depend on your credit, loan amount, down payment, property and other factors, and will vary by lender.

Market data affecting today’s mortgage rates

Here’s a snapshot of the state of play as this article was published. The data mostly compares to roughly the same time the business day before, so much of the movement will often have happened in the previous session.

• The yield on 10-year Treasury notes decreased to 4.639% from 4.647% (Good for mortgage rates). Mortgage rates often follow these Treasury bond yields.
• Major stock indexes dropped this morning. (Good for mortgage rates.) When investors sell shares and move into bonds, bond purchases can push prices up and yields down, potentially easing mortgage rates.
• Oil prices increased to $77.11 from $76.09 a barrel. (Bad for mortgage rates.*)
• Gold prices increased to $4,376.1 from $4,316.00 an ounce. (Good for mortgage rates.*)
• CNN Business Fear & Greed Index decreased to 59.6 from 60.4 out of 100. (Good for mortgage rates.) “Greed” suggests investors are seeking safety, supporting bond prices.

*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.

Caveats about markets and rates

Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. But that’s no longer the case. We still make daily calls. And are usually right. But our record for accuracy won’t achieve its former high levels until things settle down.

So, use markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caveat, mortgage rates today might nudge upward or barely budge. However, be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.

What’s driving mortgage rates today?

This week

This week, mortgage borrowers got a little relief heading into Friday. The 10-year Treasury yield, a key guide for mortgage pricing, slipped to 4.639% from 4.647%, according to CNBC. That move points to slightly lower rate pressure today. The broader market picture was less clean: WTI crude oil rose to $77.11 per barrel from $76.09, gold climbed to $4,376.1 per ounce from $4,316.0, and stocks closed lower, with the Dow down 0.85%, the S&P 500 off 0.18% and the Nasdaq down 0.06%. CNN’s Fear & Greed Index eased to 59.6 from 60.4, still in greed territory. Freddie Mac’s benchmark 30-year fixed rate was last at 6.69%, per Freddie Mac’s Primary Mortgage Market Survey.

Monday starts with the ISM Manufacturing Index at 10:00 a.m. ET, a report that can move bond yields because it gives markets an early read on business activity, pricing pressure and demand. Tuesday brings Factory Orders at 10:00 a.m. ET, another manufacturing check that can sway rates if orders come in much stronger or weaker than expected. Later Tuesday, Kansas City Fed President Jeffrey Schmid is scheduled to speak at 8:15 p.m. ET. Fed comments matter when traders are trying to pin down the path for short-term rates and inflation.

Wednesday opens with MBA Mortgage Applications at 7:00 a.m. ET, one of the few weekly reads on how borrowers are reacting in real time to rate changes. At 10:00 a.m. ET, the ISM Services Index lands, and that one often carries more weight than the factory data because services make up a bigger share of the economy. A hotter-than-expected services reading can push Treasury yields higher if markets see stronger growth or stickier inflation. Then at 10:30 a.m. ET, the EIA Petroleum Status Report hits. Energy data can feed into inflation expectations, which is one reason mortgage markets pay attention.

The other big theme this week is Fed politics. Headlines including “Opinion | Kevin Warsh Wants a New Fed. The Markets Are Not Sure.” and “Analysis: Trump treats Fed Chairman Kevin Warsh as an ally. That creates economic risks” show investors are weighing not just incoming data, but how future Fed leadership could affect rate policy. That kind of uncertainty can keep bond trading choppy even when Treasury yields tick lower, which helps explain why mortgage rate signals are improving today but not decisively.

Recent trends

Freddie Mac’s August 7 report put the weekly 30-year fixed mortgage rate average at 6.69%. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.

Expert forecasts for mortgage rates

Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.

Here are their quarterly rate forecasts for the next year.

The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its forecast on March 10 and the MBA updated theirs on March 23.

Of course, given so many unknowables, these forecasts might be even more speculative than usual. And their past record for accuracy — due to the volatile nature of interest rates — hasn’t been wildly impressive.

Mortgage rate methodology

The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.

Current mortgage rates methodology

We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.

🏠 Equal Housing Lender. The Mortgage Reports, NMLS #1019791. Verify our licensing at NMLS Consumer Access. We do business in accordance with the Equal Credit Opportunity Act and federal Fair Housing laws. This article is for editorial and informational purposes only and is not an offer or commitment to lend; rates and terms are illustrative and subject to change without notice.