Mortgage and refinance interest rates today, Wednesday, August 12, 2026: Fixed rates move higher

Mortgage and Refinance Interest Rates on Wednesday, August 12, 2026: Fixed Rates Increase Slightly

According to data from the Zillow lender marketplace, average fixed mortgage rates rose on Wednesday, August 12, 2026, compared with the previous day. The national average 30-year fixed mortgage rate reached 6.65 percent, an increase of 6 basis points from Tuesday. The 15-year fixed rate stood at 6.00 percent, up 3 basis points. The 5/1 adjustable-rate mortgage averaged 6.51 percent, 1 basis point below Tuesday’s figure.

The following national averages, rounded to the nearest hundredth of a percent, were reported from the same Zillow data set:

• 30-year fixed: 6.65 percent
• 20-year fixed: 6.40 percent
• 15-year fixed: 6.00 percent
• 5/1 ARM: 6.51 percent
• 7/1 ARM: 6.48 percent
• 30-year VA: 6.09 percent
• 15-year VA: 5.63 percent
• 5/1 VA: 6.51 percent

Refinance rates on the same date were reported as follows:

• 30-year fixed: 6.73 percent
• 20-year fixed: 6.50 percent
• 15-year fixed: 6.10 percent
• 5/1 ARM: 6.49 percent
• 7/1 ARM: 6.36 percent
• 30-year VA: 6.05 percent
• 15-year VA: 5.77 percent
• 5/1 VA: 5.60 percent

These figures represent national averages. Refinance rates are frequently higher than purchase rates, though the relationship can vary by lender and borrower profile.

A mortgage payment calculator allows users to estimate monthly costs by entering interest rate, loan amount, term length, property taxes, homeowners insurance, private mortgage insurance, and homeowners association fees. The tool produces a breakdown showing the share of each component in the total payment. Users can save the calculator for repeated use when comparing loan offers.

A 30-year fixed-rate mortgage spreads principal and interest payments over 360 months, producing lower monthly amounts than shorter-term loans. The rate remains constant for the life of the loan, so changes in monthly payment typically result only from adjustments to taxes or insurance. The trade-off is a higher contract rate than shorter fixed terms and greater total interest paid over the full repayment period.

A 15-year fixed-rate mortgage carries a lower interest rate than the 30-year version and retires the debt in half the time. Monthly payments are higher because the same principal is repaid over fewer months. Total interest expense is substantially lower when the loan is held to maturity.

Adjustable-rate mortgages apply a fixed introductory rate for a set number of years before periodic adjustments begin. A 5/1 ARM, for example, holds its initial rate for five years and then resets annually for the remaining 25 years. The introductory rate is typically lower than contemporaneous 30-year fixed rates, which reduces payments during the initial period. After the fixed interval, the rate can rise or fall according to the index and margin specified in the note, introducing uncertainty about future payments. Borrowers who expect to sell or refinance before the adjustment period starts can benefit from the lower initial rate without exposure to later changes.

The national average 30-year mortgage rate is 6.65 percent based on the Zillow lender marketplace compilation. Actual rates available to individual borrowers differ by credit score, loan-to-value ratio, property location, and chosen lender. Rates also vary across states and metropolitan areas with differing costs of living.

Fixed mortgage rates showed no decline on the reporting date. The 30-year fixed average increased 6 basis points to 6.65 percent, the 15-year fixed average increased 3 basis points to 6.00 percent, and the 5/1 ARM average declined 1 basis point to 6.51 percent.

Borrowers seeking the lowest available refinance rate can take steps similar to those used when obtaining an initial purchase mortgage. These include maintaining or improving credit scores, reducing the debt-to-income ratio, and comparing offers from multiple lenders. Selecting a shorter loan term generally produces a lower interest rate, although the resulting monthly payment will be higher than that of a longer-term loan at the same principal amount.