WASHINGTON, DC — Mortgage shoppers saw a mixed picture on Monday, Aug. 24, 2026, in Zillow’s daily lender-marketplace data. The average 30-year fixed purchase rate came in at 6.64%, the same as the refinance rate, while the 15-year purchase rate was 5.88%, or 11 basis points below the 15-year refinance rate.
Adjustable-rate pricing also moved unevenly. The 5/1 ARM purchase rate was 6.74%, which was 24 basis points higher than the 5/1 refinance rate. Zillow’s figures are national averages rounded to the nearest hundredth, and the company said the spread shows why comparing offers matters before locking in a loan.
What Zillow Reported
Zillow’s daily mortgage table listed the following purchase rates for Monday: 30-year fixed at 6.64%, 20-year fixed at 6.37%, 15-year fixed at 5.88%, 5/1 ARM at 6.74%, 7/1 ARM at 6.30%, 30-year VA at 6.14%, 15-year VA at 5.59% and 5/1 VA at 5.84%.
For refinancing, Zillow showed 30-year fixed at 6.64%, 20-year fixed at 6.61%, 15-year fixed at 5.99%, 5/1 ARM at 6.50%, 7/1 ARM at 6.51%, 30-year VA at 6.02%, 15-year VA at 5.70% and 5/1 VA at 5.63%. The rates reflect the latest Zillow lender-marketplace data, not a weekly average.
Why The Gap Matters
The comparison between purchase and refinance pricing shifted by loan type, with some refinance offers above purchase rates and others below. Zillow noted that refinance rates are often higher than purchase rates, but that pattern does not always hold. The day’s figures showed that even within the same lender market, borrowers shopping for a house and those trying to refinance can see different pricing.
Zillow also used the data to show how term length changes monthly costs. On a $300,000 loan at 6.70% for 30 years, principal and interest would be about $1,935.04 a month and total interest would be about $396,614. On a 15-year loan at 6.04%, the payment would rise to about $2,537.41 a month, but total interest would fall to about $156,734.
What Borrowers Should Check
For buyers and homeowners, the practical takeaway is that rate shopping can make a difference even when the headline number barely moves. Zillow said lenders typically reserve their lowest rates for borrowers with strong credit, larger down payments and lower debt-to-income ratios. It also pointed to options such as discount points and temporary buydowns, including a 2-1 buydown example.
What happens next is still open. Zillow’s page says mortgage refinancing rates can be higher or lower than purchase rates depending on the loan type and market conditions, and it directs readers to its mortgage calculator and lender comparisons. Those tools can help households test payments with taxes and insurance included, while rate forecasts from MBA and Fannie Mae offer a broader view of where 30-year averages may go later in 2026.
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