Mortgage rates show mixed movement as the 30-year fixed average drops to 6.92%, prompting increased interest in refinancing options despite volatility in adjustable-rate products.
Zillow is mentioned as the source of mortgage rate data, but the article does not discuss its financial performance.
The average 30-year fixed mortgage rate fell 11 basis points to 6.92% on Wednesday, September 23, 2026, according to Zillow lender marketplace data. While 15-year fixed rates also saw a slight decline to 6.48%, 5/1 ARM rates ticked upward by 5 basis points. The broader market continues to see increased refinance activity as borrowers look to capitalize on recent rate cooling.
As of September 23, 2026, the national average for a 30-year fixed mortgage is 6.92%.
Refinance applications have risen by more than 62% year-over-year, driven by a decline in mortgage rates of more than half a percentage point since May.