The average U.S. interest rate for a 30-year fixed-rate conforming mortgage rose to 6.701%, from 6.660% on the previous report, while the 15-year fixed-rate conforming rate climbed to 5.843% from 5.821%. Week over week, rates increased by about 9 basis points for 30-year conventional loans and 6 basis points for 15-year conventional loans. The latest Mortgage Research Center data reviewed by Fortune on Aug. 20 also showed rates of 6.787% for 30-year jumbo loans, 6.086% for 30-year FHA loans, 6.167% for 30-year VA loans and 6.155% for 30-year USDA loans. At 6.701%, borrowing $300,000 over 30 years would generate roughly $396,974.62 in interest, compared with about $151,115.57 over 15 years at 5.843%. Mortgage applications declined 0.4% in the week ending Aug. 14, while the Federal Reserve held the federal funds rate at 3.50% to 3.75% at its July 28-29 meeting. A further Fed rate cut in 2026 could help mortgage rates fall, but national debt, inflation and loan demand also influence borrowing costs.