As of September 3, 2026, Freddie Mac reported the average U.S. 30-year fixed mortgage rate at 6.71% and the average 15-year fixed mortgage rate at 6.04%. These national benchmarks are useful reference points for California homebuyers and homeowners, although an individual California mortgage rate can be higher or lower depending on the borrower, property, loan amount and loan program.
From January through August 2026, the average 30-year fixed mortgage benchmark was approximately 6.35%, while the average 15-year fixed benchmark was approximately 5.70%.
The lowest monthly average for the 30-year fixed mortgage during this period was approximately 6.05% in February 2026. By August, the monthly average had increased to approximately 6.67%.
For the 15-year fixed mortgage, the lowest monthly average was approximately 5.43% in February, increasing to approximately 5.98% in August.
The following table tracks Freddie Mac's Primary Mortgage Market Survey benchmarks. Freddie Mac's PMMS is a national mortgage-market benchmark rather than a California-specific rate survey. California borrowers should use these figures as a market reference rather than an individual loan quote.
| Month | Average 30-Year Fixed | Average 15-Year Fixed |
|---|---|---|
| January 2026 | 6.10% | 5.44% |
| February 2026 Low | 6.05% | 5.43% |
| March 2026 | 6.18% | 5.56% |
| April 2026 | 6.33% | 5.68% |
| May 2026 | 6.44% | 5.79% |
| June 2026 | 6.49% | 5.82% |
| July 2026 | 6.54% | 5.91% |
| August 2026 | 6.67% | 5.98% |
| September 3, 2026* | 6.71% | 6.04% |
| January–August Average | 6.35% | 5.70% |
*September represents the weekly Freddie Mac benchmark as of September 3, 2026, not a completed September monthly average. Freddie Mac reported 6.71% for the 30-year fixed mortgage and 6.04% for the 15-year fixed mortgage on September 3.
Illustrative visualization of 2026 monthly 30-year fixed averages
Mortgage rates entered 2026 near the low-6% range for a 30-year fixed mortgage.
The monthly 30-year benchmark declined from approximately 6.10% in January to 6.05% in February. It then moved higher during the spring and summer.
The monthly sequence for the 30-year fixed benchmark:
The 15-year fixed mortgage followed a similar pattern, moving from approximately 5.43% in February to 5.98% by August.
That means the 30-year monthly benchmark increased approximately 0.62 percentage points, or 62 basis points, between February and August 2026.
The movement matters because even relatively small changes in mortgage rates can have a meaningful effect on a homeowner's monthly payment and purchasing power.
Consider a hypothetical $500,000 30-year fixed mortgage.
Before considering property taxes, homeowners insurance, HOA dues or mortgage insurance.
This is one reason California buyers should compare the entire mortgage offer rather than focusing exclusively on the home price.
A 30-year fixed mortgage generally provides a lower required monthly payment because repayment is spread across 360 monthly payments.
A 15-year fixed mortgage usually offers a lower interest rate and allows the homeowner to build equity and repay the loan faster, but the required monthly payment is substantially higher because the loan is repaid over only 180 months.
Neither option is automatically better. The appropriate mortgage depends on income, cash flow, financial goals, expected time in the property, available reserves and the borrower's overall financial profile.
There is no single mortgage interest rate that applies to every California borrower.
Freddie Mac's survey provides a widely followed national benchmark, but actual California mortgage pricing can vary based on factors including credit score, loan-to-value ratio, down payment, property type, occupancy, loan amount, debt-to-income ratio, mortgage program, discount points, lender pricing and whether the loan is conforming, high-balance or jumbo.
Rates can therefore differ between borrowers in Los Angeles, Orange County, San Diego, Sacramento, San Francisco, San Jose or another California market even on the same day.
California is particularly important when discussing conforming versus jumbo mortgage rates because property values in many parts of the state are substantially higher than the national average.
For 2026, the standard one-unit conforming loan limit is $832,750 in most U.S. counties.
FHFA allows higher limits in designated high-cost markets, with the 2026 one-unit high-cost ceiling reaching $1,249,125. California contains both standard-limit and high-cost counties, so the maximum conforming loan amount depends on the property's county.
A loan above the applicable conforming limit will generally be considered a jumbo mortgage, which can have different underwriting guidelines and interest-rate pricing.
Mortgage rates are influenced by a combination of financial-market and borrower-specific factors.
Broader market conditions include Treasury yields, mortgage-backed securities prices, inflation expectations, economic growth, employment data and expectations regarding Federal Reserve monetary policy.
However, the Federal Reserve does not directly set 30-year mortgage rates.
Two borrowers applying on the same day can also receive different mortgage rates because lenders price loans based on credit risk, loan characteristics, occupancy, property type and other underwriting factors.
Trying to perfectly time mortgage rates can be difficult.
A lower mortgage rate can improve affordability, but falling rates can also increase buyer demand and competition for available properties.
The more useful question is whether a home purchase and mortgage payment make financial sense based on the buyer's current income, assets, debts, down payment and long-term plans.
Based on monthly Freddie Mac averages through August 2026, February had the lowest 30-year fixed average. The monthly average subsequently increased to approximately 6.67% in August.
The lowest monthly 15-year fixed benchmark from January through August 2026 was approximately 5.43% in February 2026. By August, the monthly average had increased to approximately 5.98%.
As of September 3, 2026, Freddie Mac's Primary Mortgage Market Survey reported:
Mortgage rates can change daily, and individual lender quotes can differ materially from these national averages.
Whether a mortgage rate is competitive should be judged relative to the market at the time the loan is locked.
During the first eight months of 2026, the average 30-year fixed benchmark ranged from approximately 6.05% to 6.67%, while the 15-year benchmark ranged from approximately 5.43% to 5.98%.
A quote should also be evaluated together with lender fees, discount points, credits, APR and loan structure. A lower advertised rate is not necessarily the less expensive mortgage.
California borrowers should compare more than the interest rate.
Two lenders can advertise the same interest rate while charging very different fees.
Mortgage rates can change quickly as economic conditions and financial markets change.
Rather than relying on a prediction of where rates may be several months from now, borrowers considering buying or refinancing should evaluate current market pricing together with their specific financial situation.
This page will be updated as additional 2026 mortgage-rate data becomes available.
Published averages are useful for understanding the mortgage market, but they are not personalized mortgage quotes.
California borrowers may have access to conventional, FHA, VA, jumbo, high-balance and alternative-documentation mortgage options depending on their circumstances.
Tell us about your situation and a mortgage professional will follow up.
Rate data in this article is based primarily on the Freddie Mac Primary Mortgage Market Survey, with monthly averages referenced through the Federal Reserve Bank of St. Louis FRED database.
Freddie Mac states that its weekly mortgage-rate survey methodology is based on mortgage applications submitted to Freddie Mac by lenders across the country.
Conforming loan-limit information comes from the Federal Housing Finance Agency (FHFA), which establishes annual limits for loans eligible for acquisition by Fannie Mae and Freddie Mac.
Important: The rates shown are historical market averages and benchmarks for educational purposes. They are not an offer to lend, an advertisement of a specific available interest rate or a guarantee that any borrower will qualify for a particular mortgage rate or program. Loan approval, terms, rates, and eligibility are subject to underwriting, program guidelines, and applicable law. Equal Housing Opportunity.
