Mortgage Rates Slightly Lower Ahead of Fed's Rate Decision on September 16, 2026
On Wednesday, September 16, 2026, mortgage rates showed mixed movements ahead of the Federal Reserve’s two-day rate-setting meeting. The average 30-year fixed-rate mortgage dropped by 2 basis points to 7.00%, while the 5/1 ARM decreased significantly by 12 basis points to 7.21%. In contrast, the 15-year fixed loan increased slightly by 4 basis points to 6.36%. Refinance rates also varied across different terms and products. Zillow's data highlights that mortgage refinance rates are often higher than purchase rates but can vary depending on market conditions. The article includes a mortgage calculator tool for users to estimate their monthly payments based on loan amount, interest rate, down payment size, and term length. This helps borrowers understand how different financial decisions impact their overall costs. The data is sourced from Zillow's Mortgage API and reflects national averages rounded to the nearest hundredth. The fluctuating rates reflect ongoing market anticipation of potential Fed action in its upcoming meeting.
Topics: Federal Reserve interest rate changes mortgage rates refinance rates