30-year fixed purchase rates fall 8 basis points to 6.44%, undercutting refinance rates by the same margin.
National 30-year fixed purchase mortgage rates dropped 8 basis points to 6.44% on July 13, 2026, marking the first time this year they have fallen below refinance rates. The 15-year fixed purchase rate declined 7 basis points to 5.82%, while the 5/1 ARM purchase rate decreased 12 basis points to 6.43%.
Refinance rates remained higher across most terms, with the 30-year fixed refinance rate at 6.52% and the 5/1 ARM refinance rate at 6.55%. Last week, purchase rates averaged 6.52% for the 30-year fixed, 5.89% for the 15-year fixed, and 6.55% for the 5/1 ARM.
The shift follows a week of volatility in bond markets, though immediate market reaction to the rate inversion was muted.