The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.810%, slightly up from the day before, according to data from Mortgage Research Center.
Meanwhile, the average rate for a 15-year, fixed-rate conforming mortgage loan is 5.980%, slightly down in the same time period.
Compare mortgage rates for Sept. 3, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Mortgage Research Center data available on Sept. 2.
What the Fortune/MRC partnership means for you
Fortune partners with Mortgage Research Center, a company with deep expertise in the mortgage data space, to keep you informed throughout your homebuying journey. We review average rates provided by MRC each workday they’re available, keeping you up to date on a variety of loan types.
Read on to see how mortgage rates have changed from one day to the next.
30-year conventional mortgage rates
This may be the most popular mortgage type in the United States.
The current average 30-year mortgage rate is 6.810%. That’s slightly up from 6.803% on the last day’s report.
15-year conventional mortgage rates
This type of mortgage is popular with homeowners seeking to minimize interest payments over the life of their loan.
The current average 15-year mortgage rate is 5.980%. That’s slightly down from 5.992% on the last day’s report.
30-year jumbo mortgage rates
A jumbo mortgage is one that exceeds the conforming loan limits set by the Federal Housing Finance Agency. While the limit can vary in certain high-cost-of-living-areas, in most of the U.S., it’s $832,750 for 2026.
The current average rate on a 30-year jumbo loan is 6.830%. That’s slightly up from 6.809% on the last day’s report.
30-year FHA mortgage rates
This type of mortgage is oftentimes more accessible to borrowers with slightly lower credit scores than conventional mortgages. Lenders are protected because these loans are insured by the Federal Housing Administration.
The current average rate on a 30-year FHA home loan is 6.161%. That’s very slightly down from 6.164% on the last day’s report.
30-year VA mortgage rates
These loans are, in general, available to U.S. military members and veterans and surviving spouses. One attractive feature is that they have no minimum down payment requirement, unlike most other mortgage types.
The current average rate on a 30-year VA home loan is 6.252%. That’s barely changed from 6.253% on the last day’s report.
30-year USDA mortgage rates
A USDA loan is meant to help low- to moderate-income borrowers purchase a home in an eligible rural area. Like VA loans, USDA loans have no minimum down payment requirement.
The current average rate on a 30-year USDA home loan is 6.276%. That’s up from 6.206% on the last day’s report.
What the Federal Reserve is doing in 2026
The Fed does not set mortgage rates, but does indirectly influence them by what it does with the federal funds rate. That benchmark rate is what banks charge each other to borrow money overnight.
When the Fed increases the federal funds rate, mortgage rates often rise, and conversely, mortgage rates often decrease when the Fed cuts the federal funds rate. At its most recent meeting July 28-29, the Federal Open Market Committee left the federal funds rate at 3.50% – 3.75%.
The FOMC has another meeting coming up on Sept. 15-16.
Some would-be homebuyers probably remember when the average mortgage rate dropped to a startling low of 2.65% in January 2021. That came as the Fed had cut the federal funds rate to effectively zero, trying to stave off a pandemic-induced recession.
However, barring a disaster of that level, experts do not expect mortgage rates to drop that low again in the foreseeable future.
Trends with mortgage applications
Mortgage applications have shown a slight uptick. For the week ending Aug. 28, applications increased 0.8% over the week before, according to the Mortgage Bankers Association.
That’s despite a somewhat gloomy economic backdrop.
“Mortgage rates reached their highest levels in four weeks as investors’ concerns about inflation and growing deficits push yields higher across the globe,” Mike Fratantoni, MBA’s SVP and chief economist, said in a news release. “Refinance volume dropped in response, but purchase volume increased modestly over the week and was slightly below last year’s level.”
It’s not all bad news, however. Fratantoni observed, “In many local markets, potential buyers have plenty of homes to choose, and this is likely supporting transaction volume.”
He also noted that an interesting trend is more borrowers choosing adjustable-rate mortgages, with the ARM share of total applications up to 8%. That’s the highest it’s been in five weeks, per MBA data.
Recent reporting on the housing market from Fortune
If you want to stay in the loop and understand what’s happening with the economy, Fortune has your back. See what the newsroom has been reporting on recently:
- Mark Cuban bought a $25 million mansion sight unseen—and got it for 50% off. His secret? ‘The best guaranteed return on investment’
- Gen Z forced to rewrite the American Dream in the ‘Great Postponement’: Fixer-uppers, side hustles and doing life out of order
- Corcoran Group CEO says Gen Z’s housing market struggles mirror what boomers faced 30 years ago: ‘Stop buying Starbucks coffee,’ she advises
- The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner
- Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house
- Locked out of housing, Gen Z and Millennials are building wealth in the stock market instead as they reach record high $3.1 trillion in holdings
- From Porsche penthouses to Nobu lofts: Inside the $67 billion boom in luxury branded residences
Why you should comparison shop
Bear in mind that you can comparison shop from a couple different angles. On one hand, it’s worth considering different mortgage types to understand what the best type of loan is for your needs.
If you have exceptional credit, you might get the best deal for your situation from a conventional loan. But, if you have a credit score below 600, you’d likely get denied for a conventional mortgage while still having a chance at approval for an FHA home loan.
There’s also comparison shopping by applying with different lenders. Freddie Mac notes that in markets with high interest rates, homebuyers who shop around with multiple lenders might save from $600 to $1,200 per year compared to those who don’t.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
They’re not quite the same. Your APR will include interest plus any applicable fees, meaning it will generally be a slightly higher number than interest rate alone.
What’s a good mortgage rate in September 2026?
With the average for a 30-year conventional mortgage hovering above the 6.50% mark these days, if you snag a rate slightly above 6.00%, that’s very good.
Will mortgage rates go down?
Perhaps. If the Fed decreases the federal funds rate in 2026, there’s a chance mortgage rates might dip accordingly. But other factors are at play too, with inflation, the national debt, and the demand for home loans all impacting mortgage rates.