Mortgage Rates Update: 30-Year Fixed Rate Drops to 6.61%

As of Saturday, August 8, 2026, mortgage rates are mixed. The 30-year fixed rate decreased by 7 basis points to 6.61%, while the 15-year fixed rate rose by 11 basis points to 6.01%. The 5/1 ARM increased by 3 basis points to 6.37%. This information is critical for potential homebuyers and those considering refinancing, as changes in interest rates can directly impact affordability and monthly payments. Lower mortgage rates may encourage more home purchases and refinancing activity.