The average U.S. rate for a 30-year fixed-rate conforming mortgage fell to 6.660% for Aug. 20, 2026, from 6.714% in the previous daily report, according to the latest Mortgage Research Center data reviewed by Fortune on Aug. 19. The 15-year conforming rate declined to 5.821% from 5.860%. Over the prior week, 30-year conventional rates fell 4 basis points, 15-year conventional rates fell 3 basis points, and 30-year jumbo rates fell 6 basis points. FHA, VA and USDA rates were broadly unchanged on a week-over-week basis. At 6.660%, borrowing $300,000 for 30 years would result in about $394,037.59 of interest over the loan’s life; at 5.821%, the same amount borrowed for 15 years would generate about $150,477.11 in interest. The Federal Reserve does not set mortgage rates directly, but its federal funds rate influences them. The Federal Open Market Committee held that rate at 3.50% to 3.75% at its July 28-29 meeting and is scheduled to meet again Sept. 15-16. Mortgage applications fell 0.4% in the week ending Aug. 14, while adjustable-rate mortgages accounted for 7.7% of total applications. The Mortgage Bankers Association said refinance activity changed little, the average refinance loan size fell to $282,200, and purchase applications decreased. Mortgage rates are unlikely to return to the 2.65% level seen in January 2021 absent a crisis of similar scale, and borrowers may benefit from comparing loan types and multiple lenders.