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FinanceIran war escalation drives 30-year fixed mortgage rate to 6.74%
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On Wednesday, September 2, 2026, mortgage and refinance interest rates experienced significant increases across all loan types, driven by renewed escalation in the Iran war. According to Zillow lender marketplace data reported by Yahoo Finance, the average 30-year fixed mortgage rate rose 15 basis points to 6.74%, while the 15-year fixed rate climbed 16 basis points to 6.16%. Adjustable-rate mortgages saw even larger jumps, with the 5/1 ARM increasing 24 basis points to 6.46%. Refinance rates followed similar upward trends, with the 30-year fixed refinance rate at 6.73%. The article attributes these rate hikes directly to continued military escalation in the Middle East, marking a sharp reversal from previous weeks. The report includes comprehensive rate tables for both purchase and refinance loans, including VA loan options, and provides a mortgage calculator for readers to estimate monthly payments. This development signals growing economic uncertainty as geopolitical tensions in the region intensify, potentially impacting housing affordability and the broader financial markets.
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Author: Tim Manni Published: Wed, September 2, 2026, 3:00 AM PDT | 5 min read
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According to the Zillow lender marketplace, mortgage rates are much higher today, following continued escalation in the Middle East.
The average 30-year fixed rate today, Wednesday, September 2, 2026, is 6.74%, up 15 basis points since yesterday. The 15-year fixed loan is currently 6.16%, 16 basis points higher than yesterday. The 5/1 ARM is 6.46%, up 24 basis points from Tuesday.
Read more: Weekly survey of mortgage lenders with the lowest rates: Minor pricing changes
Today's Mortgage Rates
Here are the current mortgage rates for Wednesday, September 2, 2026, according to the latest Zillow data:
- 30-year fixed: 6.74%
- 20-year fixed: 6.68%
- 15-year fixed: 6.16%
- 5/1 ARM: 6.46%
- 7/1 ARM: 6.36%
- 30-year VA: 6.24%
- 15-year VA: 5.91%
- 5/1 VA: 6.06%
Note: These are national averages and rounded to the nearest hundredth.
Read more: Learn about how mortgage rates are determined
Today's Mortgage Refinance Rates
These are today's mortgage refinance rates for Wednesday, September 2, 2026, according to the latest Zillow data:
- 30-year fixed: 6.73%
- 20-year fixed: 6.65%
- 15-year fixed: 6.16%
- 5/1 ARM: 6.51%
- 7/1 ARM: 6.32%
- 30-year VA: 6.23%
- 15-year VA: 5.80%
- 5/1 VA: 5.59%
Note: The numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case.
Use Our Mortgage Calculator
Use the mortgage calculator below to see how various interest rates and loan amounts will affect your monthly payments. It also shows how the term length plays into things.
- Payment breakdown
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| Lender | Action | |--------|--------| | Rocket Mortgage | Check rates | | Veterans United | Check rates | | New American Funding | Check rates |
You can bookmark the Yahoo Finance mortgage payment calculator and keep it handy for future use as you shop for homes and the best lenders. You even have the option to enter costs for private mortgage insurance (PMI) and homeowners' association dues if those apply to you. These details result in a more accurate monthly payment estimate.
Source
Yahoo FinanceWestern
Part of this Story
Iran war escalation drives 30-year mortgage rate to 6.87%, highest since June 2025