Zillow Says 30-Year Mortgage Rate Tops 7.02% as 5/1 ARM Jumps 48 Basis Points
Updated
Updated · Yahoo Finance · Sep 16
Zillow Says 30-Year Mortgage Rate Tops 7.02% as 5/1 ARM Jumps 48 Basis Points
2 articles · Updated · Yahoo Finance · Sep 16
Summary
The average 30-year fixed mortgage rate rose 11 basis points in Zillow’s lender marketplace on Sept. 15, pushing the benchmark back above 7% to 7.02%.
The move was not uniform across loan types: the 15-year fixed rate fell 5 basis points to 6.32%, while the 5/1 adjustable-rate mortgage surged 48 basis points to 7.33%.
Refinance pricing stayed near purchase levels, with the 30-year fixed refinance rate at 6.98% and the 15-year refinance rate at 6.38%, based on rounded national averages.
The reading runs above major 2026 forecasts, with the MBA expecting 30-year rates around 6.60%-6.70% and Fannie Mae projecting 6.70%-6.80% for the rest of the year.
The latest jump also aligns with regional signs of strain: North Texas 30-year mortgage rates have already moved above 7% for the first time since 2025.