Mortgage rates rise amid persistent inflation and Fed policy

Mortgage rates have shown upward movement in mid-August 2026. The 30-year fixed mortgage rate held steady at 6.69% on August 10, while the 15-year fixed rate was reported at 6.01% and the 5/1 ARM at 6.25%.

By August 11, refinance rates saw an increase. The national average 30-year fixed refinance rate rose by 11 basis points to 7.18%, following a weekly increase of 17 basis points. The 15-year fixed refinance rate also climbed to 6.21%, a 12 basis point rise from the previous day.

Economic factors influencing these rates include the Federal Reserve maintaining the federal funds rate between 3.50% and 3.75% and persistent inflation, which has been reported around 3.7% to 3.8%. Additionally, rising yields in the bond market have contributed to the upward pressure on borrowing costs.