The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 7.065%, 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 6.320%, up for that same time period.
Compare mortgage rates for Sept. 18, 2026
Here’s a quick look at week-over-week rate changes.
Fortune reviewed the latest Mortgage Research Center data available on Sept. 17.
What you’d pay in interest with where rates are at today
We ran the numbers through the mortgage calculator provided by the federal government’s Office of Financial Readiness. At the current rate of 7.065%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $423,248.51 in interest over the life of the loan.
On a 15-year mortgage with the same loan amount used for the estimate, you’d pay roughly $165,070.57 in interest over the life of the loan at the current rate of 6.320%.
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 day by day.
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 7.065%. That’s slightly up from 7.053% 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 6.320%. That’s up from 6.297% 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 7.244%. That’s up from 7.184% 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 6.502%. That’s slightly up from 6.494% 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 6.600%. That’s up from 6.579% 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 6.563%. That’s up from 6.538% on the last day’s report.
What the Federal Reserve is doing in 2026
The Fed does not set rates on mortgages and other consumer financial products directly. But, the Fed does set something called the federal funds rate—the rate banks charge each other to borrow money overnight. And rates on consumer products often fluctuate alongside changes the central bank makes to the federal funds rate.
For example, when the Fed hikes that rate, banks often respond by increasing rates on mortgages and similar products. When the Fed decreases its rate, financial institutions may similarly decrease rates on consumer products.
The most recent meeting of the Federal Open Market Committee occurred Sept. 15-16, and the Fed raised the federal funds rate from 3.50% – 3.75% where it had stood for many months to 3.75%-4.00%. There’s another FOMC meeting set for Oct. 27-28.
While trying to prevent a recession from the coronavirus pandemic in 2020, the Fed slashed its rate to effectively zero. In this environment, mortgage rates dropped dramatically, hitting a historical low average of 2.65% in January 2021.
But, barring another global catastrophe, experts do not think mortgage rates will go that low again in the foreseeable future.
Trends with mortgage applications
Mortgage applications are down, according to a weekly survey from the Mortgage Bankers Association. Overall, applications decreased by 4.1% for the week ending Sept. 11 compared to a week earlier.
“Ongoing market concerns over spiking energy prices, persistently high inflation, and future monetary policy pushed bond yields and mortgage rates higher last week,” Joel Kan, MBA’s VP and deputy chief economist, said in a news release.
Refinance activity was down 65% compared to the same week one year ago, according to MBA data.
“The current level of rates also eliminated much of the benefit to refinance for many borrowers, resulting in declines in conventional, FHA, and VA refinance applications,” Kan observed.
Recent reporting on the housing market from Fortune
If you’re looking to be a more informed consumer, check out Fortune’s reporting on what’s going on with housing and the economy as a whole:
- 1 in 3 Gen Z and millennials are stuck in their parents’ home—now, Airbnb is swooping in with a $250 million fund for affordable rental homes
- Even Americans earning more than $155,000 now call themselves ‘working class’—a sign of how far the affordability crisis has spread
- Mortgage lending standards are so tight that homebuyers must have ‘pristine’ credit histories, study says, as sales head for 31-year low
- U.S. national debt increased by $5.1 million a minute over the past year—that’s $117,279 for every American
- 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
Why you should comparison shop
Shopping around can help you save money on physical products, and the same holds true for financial products such as home loans. In fact, homebuyers in high-interest environments who apply with multiple lenders might save from $600 to $1,200 per year compared to those who don’t, according to Freddie Mac.
Keep in mind there are two big factors you’re considering when shopping around for a mortgage. One of those is which lender will offer you the lowest rate and which may have the service that aligns with your expectations.
The other is what type of loan you’re going to ultimately take out. For example, someone with a high credit score may get a great deal on a conventional mortgage, whereas someone with a credit score less than 600 may get denied for a conventional mortgage but still have a chance at taking out an FHA home loan.
Frequently asked questions
Are a mortgage’s interest rate and APR the same?
Not quite. Your APR will typically be the higher number, as it factors in interest plus any applicable fees.
What’s a good mortgage rate in September 2026?
Since we’ve been observing the average rate for a 30-year conventional home loan fluctuating above 7.00%, getting a rate between 6.50% and 7.00% is probably a solid win for this environment.
Will mortgage rates go down?
It’s possible but far from certain. If the Fed opts for a cut to the federal funds rate in 2026, mortgage rates might dip accordingly. However, there are other factors that play an important role in where mortgage rates end up—including the national debt, demand for home loans, and inflation.