Mortgage Rates Drop Slightly on September 22, 2026; 30-Year Fixed Rate Remains Above 7%
On Tuesday, September 22, 2026, mortgage rates saw a slight decline compared to the previous day according to Zillow data. The national average for the 30-year fixed-rate mortgage dropped by one basis point to 7.03%, while other popular loan terms also experienced reductions in their interest rates. Refinance rates followed similar trends but remained generally higher than purchase rates, with the 30-year refinance rate at 7.10%. The decline was broad across multiple fixed and adjustable-rate mortgages (ARMs), including a notable drop of ten basis points for the 5/1 ARM to 6.94%. Despite these declines, mortgage rates remain elevated by historical standards, with the 30-year rate still above 7%, which could continue to impact homebuyer affordability and refinancing activity.
Topics: interest rates mortgages