Mortgage Purchase Rates Exceed Refinance Rates on August 31, 2026
On Monday, August 31, 2026, mortgage purchase rates were higher than refinance rates across multiple loan terms according to Zillow data. The national average for the 30-year fixed-rate purchase was 6.55%, while the corresponding refinance rate stood at 6.51%. Similar patterns emerged in other products like the 15-year and ARM loans, with purchase rates consistently higher than their refinance counterparts by a few basis points. The disparity between purchase and refinance rates is notable but not uncommon; however, it may influence borrower behavior as those looking to buy new homes face slightly steeper interest costs compared to homeowners seeking refinancing. The data highlights the current state of mortgage markets in 2026, with fixed-rate mortgages hovering around mid-6s. A mortgage payment calculator is also available for users to estimate their monthly payments based on home price, down payment, loan term, and other factors like property taxes and insurance.
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Topics: interest rates mortgages refinance