Mortgage Rates Rise Ahead of Fed Decision on July 29, 2026
On Wednesday, July 29, 2026, mortgage rates across multiple loan types increased according to Zillow data. The average 30-year fixed rate rose by seven basis points from the previous day to reach 6.69%. Similarly, the 15-year fixed rate climbed nine basis points to 6.07%, and the 5/1 ARM surged by a significant 53 basis points to 6.99%. These increases come ahead of an anticipated Federal Reserve decision on interest rates. Refinance rates also saw upward movement, with the national average for a 30-year fixed refinance reaching 6.59%, up from Tuesday's figures. VA loan rates were slightly lower than conventional loans but still showed modest gains across terms like the 30-year and 15-year options. The data highlights growing sensitivity in mortgage markets to potential Fed rate adjustments, which could influence borrower behavior ahead of a decision. The article also includes tools for calculating monthly payments based on loan amounts, interest rates, taxes, insurance, and other fees. These resources help borrowers understand the financial implications of different mortgage terms as they prepare for home purchases or refinancing.
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Topics: mortgage rates refinance rates Zillow data