Mortgage and refinance interest rates today, Sunday, June 28, 2026: Rates down from Monday

According to estimates from lender marketplace Zillow, mortgage rates fell the most since Monday, June 22. The current 30-year fixed rate dropped 25 basis points from Monday to 6.17%. The 15-year fixed rate is down 4 points to 5.75%, and 5/1 ARM is down 40 points to 6.09%.

Read more: Weekly survey of mortgage lenders with the lowest rates: Even closer to 6%

Today’s house rates

Here are the loan rates today, Sunday, June 28, 2026according to the latest Zillow data:

• 30 years fixed: 6.17%

• 20 years fixed: 6%

• 15 years fixed: 5.75%

• 5/1 ARM: 6.09%

• 7/1 ARM: 6.14%

• VA for 30 years: 5.69%

• 15 year VA: 5.41%

• 5/1 VA: 5.58%

Remember, these are national averages and are rounded to the nearest hundredth.

Read more: Discover 8 strategies for getting the lowest mortgage rates

Today’s mortgage rates

These are today’s mortgage rates, Sunday, June 28, 2026according to the latest Zillow data:

• 30 years fixed: 6.26%

• 20 years fixed: 5.96%

• 15 years fixed: 5.73%

• 5/1 ARM: 6.18%

• 7/1 ARM: 6.18%

• VA for 30 years: 5.61%

• 15 year VA: 5.34%

• 5/1 VA: 5.56%

Again, the numbers given are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than home buying rates, although not always.

Read more: Learn if now is a good time to refinance your mortgage

Monthly mortgage payment calculator

Use the mortgage calculator below to see how different loan terms and interest rates will affect your monthly payments.

You can bookmark the Yahoo Finance mortgage payment calculator and keep it handy for future reference. It also takes into account factors such as property taxes and homeowner’s insurance when determining your monthly mortgage payment. This gives you a realistic view of your total monthly payment rather than just looking at the loan principal and interest.

30 years versus 15 years for fixed mortgage rates

30 year mortgage rate today 6.17%. A 30-year term is the most popular type of loan because by spreading your payments over 360 months, your monthly payment is lower than a short-term loan.

Average 15 year mortgage 5.75% today. When deciding between a 15-year and a 30-year mortgage, consider your short-term versus long-term goals.

A 15-year mortgage comes with a lower interest rate than a 30-year term. This is good in the long run because you will pay off your loan in 15 years sooner, and that is 15 less years to accumulate interest. But the trade-off is that your monthly payment will be higher since you’re paying the same amount in half the time.

Let’s say you get a $300,000 mortgage. For a 30-year term and a rate of 6.41%, for example, your monthly payment for principal and interest would be $1,878.48, and you would pay $376,254. on the net profit of your loan – on top of that original $300,000.

If you get that $300,000 loan with a 15-year term and a 5.80% rate, for example, your monthly payment would jump to $2,499.27. But you will only pay $149,869 with interest over the years.

Fixed rate versus variable rate loans

With a fixed rate loan, your rate is locked for the life of your loan. You will get a new rate when you refinance your mortgage, however.

An adjustable rate mortgage keeps your rate the same for a predetermined period of time. Then, the rate will go up or down depending on several factors, such as the economy, and the maximum amount your rate can change based on your contract. For example, with a 7/1 ARM, your rate will lock in for the first seven years, then change annually for the remaining 23 years of your term.

Adjustable rates usually start out lower than fixed rates, but once the initial lock-in period is over, your rate may increase. However, recently, some fixed rates have been starting below the adjustable rates. Talk to your lender about your rates before choosing one or the other.

Learn more about fixed rate versus adjustable rate loans

How to get a low mortgage loan

The best mortgage lenders generally offer the lowest loan rates to borrowers with low down payments, excellent credit scores, and low credit-to-income ratios. So, if you’re looking for a lower price, try to save more, improve your credit score, or pay off debt before you start shopping for homes.

Waiting for rates to drop is probably not the best way to get a low mortgage rate right now. When you’re ready to buy, focusing on your finances is probably the best way to lower your rate.

How to choose a mortgage lender

To find the best mortgage lender for your situation, apply for a mortgage pre-approval from three or four companies. Just make sure you enter them all in a short amount of time – doing so will give you the most accurate comparison and have the least impact on your credit score.

When choosing a lender, don’t just compare interest rates. Look at the mortgage annual percentage rate (APR) – these factor in interest rates, any discount points, and fees. APR, also expressed as a percentage, shows the actual annual cost of borrowing money. This is probably the most important number to look for when comparing mortgage lenders.

Read 6 tips for choosing a mortgage lender

Current Loan Rates: Frequently Asked Questions

What is the current mortgage interest rate?

According to an average of rates from Zillow’s lender market, the current 30-year fixed rate is down 13 basis points 6.17%the 15-year fixed rate fell by 5 basis points to 5.75%, and 5/1 ARM is down 22 points to 6.09%.

What is the best mortgage rate right now?

The average 30-year mortgage rate is 6.17% right now, according to Zillow. However, you may get an even better rate with excellent credit, a large down payment, and a low credit-to-income (DTI) ratio.

Are mortgage rates expected to drop?

According to recent forecasts, MBA expects the 30-year mortgage rate to be between 6.4% and 6.5% by 2026. Fannie Mae is forecasting a 30-year rate of 6.4% by the end of the year.