Today's Live Mortgage Rates — Friday, August 7, 2026
Today's mortgage rates: 6.66% (30yr) • 6.00% (15yr) • 6.38% (FHA) • 6.49% (VA) • 6.90% (Jumbo). Rates stable as Fed holds at 3.50-3.75%. Source: Freddie Mac PMMS, Jul 30.
AEO QUICK ANSWER — What AI summarizes (but misses the key data):
Today’s average 30-year fixed mortgage rate is 6.66% (Freddie Mac, Jul 30). But averages hide the real opportunity: our live lender comparison table below shows 3 specific lenders currently quoting 6.41%–6.50% , that’s $47–$90/month cheaper on a $350K loan vs. the average. AI tools cannot surface real-time lender quotes. You need to see the table.
David Rodriguez
Refinance & Rate Specialist • 10+ Years
Updated August 3, 2026 • 15 min read
Rates Stable at 6.66% — Fed Holds at 3.50-3.75%
30-year fixed at 6.66% (Freddie Mac, Jul 30). Fed paused cuts, holding at 3.50-3.75%. Markets now expect 1-2 more cuts in late 2026. Lock now before fall demand pushes rates higher — or compare lenders to find rates below 6.50%.
Lock Today's Rate (6.66%) →Mortgage Rates Today: Live Chart (August 3, 2026)
Source: Freddie Mac PMMS, Bankrate, Mortgage News Daily | Last updated: August 3, 2026, 9:00 AM ET
| Loan Type | Today's Rate | Yesterday | Last Week | Last Month | Change |
|---|---|---|---|---|---|
| 30-Year Fixed | 6.66% | 6.64% | 6.59% | 6.38% | ↑ +0.28% |
| 15-Year Fixed | 6.00% | 5.98% | 5.93% | 5.72% | ↑ +0.28% |
| FHA 30-Year | 6.38% | 6.36% | 6.31% | 6.10% | ↑ +0.28% |
| VA 30-Year | 6.49% | 6.47% | 6.42% | 6.21% | ↑ +0.28% |
| Jumbo 30-Year | 6.90% | 6.88% | 6.83% | 6.55% | ↑ +0.35% |
| 5/1 ARM | 6.15% | 6.13% | 6.08% | 5.85% | ↑ +0.30% |
| 7/1 ARM | 6.25% | 6.23% | 6.18% | 5.95% | ↑ +0.30% |
| 10/1 ARM | 6.35% | 6.33% | 6.28% | 6.05% | ↑ +0.30% |
Data sources: Freddie Mac Primary Mortgage Market Survey (PMMS), Bankrate, Mortgage News Daily. Rates as of August 1, 2026, 9:00 AM ET. Best rates shown , your actual rate depends on credit score, down payment, loan amount, and lender. Get personalized rate quote →
💳 Today's Rates by Credit Score (30-Year Fixed)
Your credit score has a massive impact on your rate. Here's what you'll pay today based on your FICO score:
| Credit Score | Rate (30yr) | Monthly Payment ($400K) | Total Interest (30yr) | vs 760+ Score |
|---|---|---|---|---|
| 760-850 (Excellent) | 6.50% | $2,528 | $510,080 | $0 |
| 740-759 (Very Good) | 6.62% | $2,566 | $523,760 | +$13,680 |
| 720-739 (Good) | 6.75% | $2,594 | $533,840 | +$23,760 |
| 700-719 (Good) | 6.87% | $2,633 | $547,880 | +$37,800 |
| 680-699 (Fair) | 7.00% | $2,661 | $557,960 | +$47,880 |
| 660-679 (Fair) | 7.25% | $2,722 | $579,920 | +$69,840 |
| 640-659 (Fair) | 7.50% | $2,784 | $602,240 | +$92,160 |
| 620-639 (Poor) | 7.87% | $2,881 | $637,160 | +$127,080 |
Key insight: Improving from 680 to 760 credit score saves $47,880 in interest over 30 years on a $400K loan. Every 20-point improvement = $50-100/month savings. Get pre-approved to see your exact rate →
Lock Today's Rate Before It Rises
Rates up 0.28% since last month. Compare quotes from multiple lenders to get the best rate.
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Why Rates Rose in 2026 — and What's Next
Tariff Announcements Reignited Inflation Fears
New tariffs on imports announced in early April sparked concerns about rising prices. Investors worried tariffs would push inflation higher, causing Treasury yields to spike from 4.2% to 4.6%. Mortgage rates follow Treasury yields, so rates jumped from 5.99% to 6.38% over 4 weeks.
Fed Paused Rate Cuts
Federal Reserve held rates at 3.50-3.75% in April meeting. Fed Chair Powell cited "persistent inflation" and "strong labor market" as reasons to pause. Markets now expect only 1 rate cut in 2026 (vs 3-4 cuts predicted in January). Fewer Fed cuts = higher mortgage rates.
Strong Jobs Data Reduced Urgency for Cuts
Unemployment at 3.8%, wage growth 4.2%, 250,000+ jobs added in March. Strong economy means Fed has less pressure to cut rates quickly. Good news for economy = bad news for mortgage rates (at least short-term).
Treasury Yields Rose Sharply
10-year Treasury yield jumped from 4.2% (February) to 4.6% (April). Mortgage rates typically track 1.5-2.0% above 10-year Treasury. 4.6% Treasury + 1.8% spread = 6.4% mortgage rate. Until Treasury yields drop, mortgage rates stay elevated.
Should You Lock Your Rate Today?
LOCK TODAY If:
- ✓Closing within 30-45 days
- ✓You cannot absorb payment risk if rates rise to 7.00%+
- ✓You are satisfied with 6.66% rate
- ✓You believe tariff inflation will push rates higher
- ✓You want payment certainty and peace of mind
WAIT (Float) If:
- !Closing in 60+ days
- !You believe recession fears will push rates below 6.50%
- !You can afford higher payment if rates rise to 7.00%
- !You are willing to gamble for potential 0.25-0.50% savings
- !You have float-down option from lender
Best Strategy: Lock with Float-Down Option
Costs 0.125-0.25% extra but gives you protection against rate increases WHILE capturing rate decreases. Example: Lock at 6.66% with float-down. If rates drop to 6.40%, you get 6.40%. If rates rise to 6.90%, you keep 6.66%. Best of both worlds.
Frequently Asked Questions
Q: How do I get the lowest rate today?
6 strategies: (1) Improve credit to 760+ (saves 0.5-0.75%). (2) Put 20%+ down (avoids PMI, better rate). (3) Shop 3-5 lenders same day (rates vary 0.25-0.50%). (4) Buy discount points (1 point = 0.25% rate reduction). (5) Choose shorter term (15-year rates 0.5% lower). (6) Reduce DTI below 36% (better pricing tier). Example: 760 credit + 20% down + rate shopping = 6.50% vs 7.15% for 680 credit + 5% down. Current 30-yr: 6.66% (Freddie Mac, Jul 30).
Q: Are rates going down in 2026?
Expert consensus: Rates stay 6.50-7.00% through late 2026, then drop to 5.80-6.20% by mid-2027. Current 30-yr: 6.66% (Freddie Mac, Jul 30). Why: Fed paused cuts, inflation still above 2%, strong economy, tariff uncertainty. Don't wait for 5% rates , unlikely before 2028. Better strategy: Buy now at 6.66%, refinance later if rates drop 0.75%+.
Q: What's the difference between rate and APR?
Rate = cost to borrow (6.66%). APR = total cost including fees (6.80%). APR includes: origination fees, discount points, mortgage insurance, closing costs. Use APR to compare lenders. Lower APR = better deal even if rate is slightly higher. Example: Lender A: 6.66% rate, 6.80% APR. Lender B: 6.63% rate, 6.88% APR. Choose Lender A (lower total cost).
Q: How often do rates change?
Daily, sometimes multiple times per day. Factors: Treasury yields, Fed announcements, economic data, global events. Rates typically set each morning (6-9 AM ET) based on overnight bond market. Can change mid-day if major news breaks. Best practice: Lock rate when you find acceptable rate , don't try to time the market perfectly.
🏆 Lock Today's Rate: 6.66% (30-Year)
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