Mortgage rates just shifted again on July 6, 2026, with purchase rates now edging above refinance rates. If you’re weighing your options for a home loan or thinking about refinancing, these small changes in rates can make a big difference in your monthly payment. Keep reading to see the latest numbers and learn how they might affect your next move in the housing market.
Understanding Today’s Mortgage Rate Movement
According to the latest data from the Zillow lender marketplace, we’re seeing something interesting: purchase rates have climbed slightly above refinance rates. This doesn’t happen every day, and it’s worth paying attention to if you’re in the market for a home loan.
The current 30-year fixed-rate mortgage for purchases sits at 6.40%, which is 2 basis points higher than it was recently. The 15-year fixed-rate purchase loan is also up 2 basis points to 5.86%. Perhaps most notable is the 5/1 adjustable-rate mortgage, which jumped 19 basis points to reach 6.52%.
For foreign investors looking to enter the U.S. real estate market, these shifts might seem small, but they can translate to meaningful differences in your monthly obligations and overall investment returns.
Current Mortgage Rates Breakdown
Let me walk you through what mortgage rates look like right now for different loan types:
Fixed-Rate Mortgage Options
For traditional fixed-rate mortgages, here’s what you’re looking at:
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30-year fixed: 6.40%
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20-year fixed: 6.29%
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15-year fixed: 5.86%
Adjustable-Rate Mortgage Products
If you’re considering an adjustable-rate mortgage, current rates are:
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5/1 ARM: 6.52%
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7/1 ARM: 6.30%
VA Loan Rates
For those who qualify for VA loans:
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30-year VA: 5.81%
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15-year VA: 5.51%
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5/1 VA: 5.74%
Keep in mind these are national averages. Your actual rate will depend on your specific situation, including your credit profile, down payment, and the property you’re purchasing.
Today’s Refinance Rates
Now let’s look at refinance rates, which are running slightly lower than purchase rates today:
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30-year fixed: 6.38%
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20-year fixed: 6.12%
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15-year fixed: 5.84%
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5/1 ARM: 6.33%
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7/1 ARM: 6.04%
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30-year VA: 5.80%
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15-year VA: 5.51%
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5/1 VA: 5.70%
If you’re a foreign investor who purchased property in the U.S. a few years ago when rates were higher, this could be a good time to explore refinancing options with experienced mortgage lenders who understand international borrower situations.
Making Sense of Your Payment Options
When you’re comparing home loan rates, it helps to see how they translate into actual monthly payments. A mortgage payment calculator is your best friend here. You’ll want to factor in not just principal and interest, but also property taxes, homeowners insurance, and any HOA fees.
For example, on a $300,000 mortgage with a 30-year term at 6.40%, your monthly payment toward principal and interest would be approximately $1,865. Over the life of the loan, you’d pay about $371,309 in interest.
Compare that to a 15-year mortgage at 5.86%: your monthly payment would jump to around $2,515, but you’d only pay about $152,770 in total interest. That’s a savings of over $218,000, though you need to be comfortable with the higher monthly obligation.
Choosing Between Fixed and Adjustable Rates
One question I hear often from foreign investors is whether to go with a fixed-rate mortgage or an adjustable-rate mortgage. Both have their place depending on your strategy.
A fixed-rate mortgage gives you stability. Your rate stays the same for the entire loan term, which makes budgeting straightforward. This is particularly valuable if you’re managing properties from overseas and want predictable expenses.
An adjustable-rate mortgage typically starts with a lower rate that’s locked in for a set period. With a 5/1 ARM, for instance, your rate stays fixed for five years, then adjusts annually. If you plan to sell the property or refinance before the adjustment period kicks in, you could save money with the lower initial rate.
Right now, ARM rates are running close to or even above fixed rates in some cases, which makes fixed-rate options more attractive for many borrowers.
Strategies for Getting Better Rates
Whether you’re looking at current mortgage rates for a purchase or exploring refinance rates, there are proven ways to improve the rates mortgage lenders offer you:
First, work on your credit score. Lenders reserve their best rates for borrowers with excellent credit. If you’re new to the U.S. credit system, start building your profile early.
Second, increase your down payment if possible. A larger down payment reduces the lender’s risk and often results in better rates.
Third, consider buying down your rate by paying discount points at closing. Each point typically costs 1% of your loan amount and can lower your rate by about 0.25%. Run the numbers with a mortgage payment calculator to see if this makes sense for your timeline.
At Nadlan Capital Group, we specialize in helping foreign investors navigate these decisions. We understand the unique challenges you face, from establishing U.S. credit to structuring loans for maximum tax efficiency.
What to Expect Moving Forward
Looking ahead, most forecasts suggest mortgage rates will hover in the 6.4% to 6.5% range through the rest of 2026. This relative stability can actually work in your favor as you plan your real estate investments.
If you’re ready to explore your options or have questions about how these rates apply to your specific situation, we’re here to help. Our team at Nadlan Capital Group works with mortgage lenders across the country who understand the needs of international borrowers.
Contact us today to discuss your financing needs and get personalized guidance on securing the best possible home loan rates for your investment goals.
Frequently Asked Questions
What’s the difference between purchase rates and refinance rates?
Purchase rates apply when you’re buying a new property, while refinance rates apply when you’re replacing an existing mortgage on a property you already own. Refinance rates are sometimes slightly lower, though as we’re seeing today, purchase rates can occasionally dip below refinance rates depending on market conditions.
How much can a small change in mortgage rates affect my payment?
Even a quarter-point difference can add up over time. On a $300,000 loan, moving from 6.40% to 6.15% would save you about $50 per month, or $18,000 over a 30-year term. That’s why shopping around with multiple mortgage lenders is so important.
Should I choose a 15-year or 30-year mortgage?
It depends on your cash flow and investment strategy. A 15-year fixed-rate mortgage builds equity faster and saves you significantly on interest, but requires higher monthly payments. A 30-year loan offers lower payments and more flexibility, which many foreign investors prefer when managing multiple properties.
Are adjustable-rate mortgages risky?
An adjustable-rate mortgage carries rate risk after the initial fixed period ends, but it’s not inherently risky if you plan carefully. If you intend to sell or refinance before the rate adjusts, an ARM can save you money. Just make sure you understand when and how your rate can change.
How can foreign investors qualify for the best mortgage rates?
Foreign investors can access competitive rates by working with lenders experienced in international borrower situations, maintaining strong credit profiles, making larger down payments (typically 25% or more), and providing clear documentation of income and assets. Working with a specialized broker like Nadlan Capital Group can connect you to lenders who compete for your business and understand your unique needs.