Where mortgage rates stand right now
Good news to start the week: rates moved lower and are now sitting at their best levels in nearly a month. Here is where things stand, using Mortgage News Daily's daily lender pricing (August 13, 2026):
- 30-year fixed: 6.69% (down 0.05% on the day)
- 15-year fixed: 6.26% (down 0.01%)
- 30-year FHA: 6.28% (down 0.01%)
- 30-year VA: 6.29% (down 0.02%)
- 30-year jumbo: 6.83% (down 0.02%)
One note on why you may see different numbers elsewhere: these are daily figures based on actual lender pricing, so they run a bit more current than the weekly survey averages you often see quoted in the news. These are national averages. Your own rate still depends on your credit, down payment, points, property, and loan type, so the only number that really matters is the one quoted on your file. If you want your real number, reach out to Connor for a personalized quote.
The FHA and VA gap is worth a look
Government-backed loans are still pricing meaningfully below conventional. FHA is around 6.28% and VA around 6.29%, roughly 0.40% under the 6.69% conventional 30-year. If you are a first-time buyer who qualifies for FHA, or a veteran or active-duty service member eligible for a VA loan, that gap can translate into a noticeably lower payment on the same price. It is worth running both options side by side before you lock in a loan type, because the headline conventional rate is not always your best path.
The markets and economy: what is happening and why it matters
Zoom out from mortgages for a second, because the bigger picture is what pushed rates lower this week. Here is the current snapshot:
- Stocks: the major indexes were roughly flat to slightly lower on the day. The S&P 500 sat around 7,795, the Dow around 53,757, and the Nasdaq around 26,760, each easing a fraction of a percent, per Yahoo Finance.
- Bonds: the 10-year Treasury yield eased to about 4.63% and the 2-year to about 4.15%, per the U.S. Treasury. That matters because mortgage rates track the 10-year far more closely than anything else, and when it drifts lower, mortgage rates tend to follow.
- The Fed: the federal funds target range is 3.50% to 3.75%. The Fed held rates steady at its July 29, 2026 meeting, the fifth straight hold, in a 9 to 3 vote, with three members actually preferring a hike, per the Federal Reserve.
- The economy: the latest readings show unemployment around 4.1% with July payrolls slipping about 23,000 jobs, inflation around 3.4% year over year, and GDP growth near 2.1%, per Trading Economics. A softer labor market plus cooling inflation is exactly the mix that lets yields, and mortgage rates, drift lower.
So what does all of this mean for mortgage rates and housing? In plain terms: this week the data leaned soft. The Producer Price Index came in below expectations, oil prices fell, and the jobs report showed hiring going backwards. Cooler inflation and a cooling labor market pull Treasury yields down, and mortgage rates follow those yields, which is why the 30-year fixed slid to a near four-week low. For housing, that is a small but welcome move in the right direction. It does not change the picture overnight, but a stable-to-easing rate environment is something buyers can actually plan around.
What is actually driving rates: the bond market
Here is the part most headlines skip. The Federal Reserve does not set your mortgage rate. Long-term mortgage rates track the 10-year Treasury yield and mortgage-backed securities far more closely than the Fed's short-term rate, because lenders use those markets to price home loans. This week yields eased for a few specific reasons: the Producer Price Index inflation reading came in soft, oil prices dropped, and a weak jobs report raised expectations that the economy is slowing. Cooler inflation and softer growth make bonds more attractive, which pushes yields, and mortgage rates, down. When you understand that mortgages follow the bond market, the daily headlines about the Fed make a lot more sense.
What this means for you
- Buyers: rates just dropped to a near four-week low, but they are still in the high 6s, not the 5s. The smart play is not to time the exact bottom. Buy the right home, get a payment that works, and refinance later if rates keep falling. Marry the house, date the rate.
- First-time and VA-eligible buyers: check FHA and VA pricing, they are running about 0.40% below conventional right now, which can meaningfully lower your payment.
- Worried about the payment? Ask about a temporary or permanent rate buydown, seller-paid points, or a shorter term. Small structural moves often matter more than waiting on the market to change.
- Move-up buyers: if you have equity in your current home, a bridge loan or a recast can let you buy before you sell without wrecking your payment.
The bottom line for this week: rates ticked lower to their best levels in nearly a month as soft inflation data, falling oil, and a weak jobs report pulled Treasury yields down. If you find a home and a payment that work, this is a friendlier moment to lock than we have seen in a few weeks. Want your actual number? I will run a real quote for your situation, no guessing off a national average. Start your personalized quote here.
Rates and figures cited are as of August 14, 2026 from public sources and change daily; they are illustrative, not a rate quote or a commitment to lend. Your actual rate depends on your credit, loan type, property, and market conditions. Connor Webb, NMLS #1529504; Envoy Mortgage, Ltd., NMLS #6666. Equal Housing Lender.