Mortgage Rate Check: Where Rates Stand Heading Into Fall 2026

Rates shift week to week, and this week's data gives buyers and sellers a clear read on where financing costs stand as the fall market gets underway -- including what that means locally in Washtenaw County, Michigan.

This Week's Numbers

According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.71% as of September 3, 2026, up from 6.66% the previous week. The 15-year fixed-rate mortgage averaged 6.04%, up from 5.98% the prior week.

For comparison, the 30-year rate stood at 6.50% and the 15-year rate at 5.60% at this same point last year -- a reminder that today's rates remain modestly higher year-over-year, though they've held in a relatively narrow band over the past month.

What's Driving the Movement

Purchase demand has stayed relatively steady in recent weeks, suggesting buyers are adjusting to current rate conditions rather than pausing activity altogether. Day-to-day rate data has also shown some sensitivity to broader economic releases and global events recently, which is typical during periods when markets are waiting on new inflation and employment data.

What to Watch Next

A few scheduled data releases could move rates in either direction over the coming weeks:

• Jobs report -- a key early September release that markets often react to quickly.
• CPI (inflation) report -- scheduled for September 11, covering August data.
• Federal Reserve meeting -- scheduled for September 16, where any signal on future rate policy tends to influence mortgage pricing even before an official decision is announced.

What This Means in Practical Terms

On a $400,000 loan at a rate in the high-6% range, principal and interest payments generally run in the neighborhood of $2,500-$2,600 per month, before taxes, insurance, and HOA fees. Small rate movements -- even a quarter of a percentage point -- can shift that monthly figure by $60-$70, which is why timing a rate lock around a closing date matters.

Washtenaw County, Michigan: Local Figures

Local price and inventory data typically post 2-4 weeks after month-end, so the figures below reflect the most recently published data available as of this posting rather than a finalized August report.

Countywide (Washtenaw County):

• Average home value: $423,247 as of the Zillow Home Value Index update through July 31, 2026, up 2.5% over the prior year.
• Median sale price: $435,000 for the three-month period ending May 2026, up 4.7% year-over-year.
• Time to pending: Homes are going to pending in around 9 days countywide on average, per the same Zillow update.
• Sales volume: 411 homes sold in May 2026, down slightly from 430 a year earlier.

Ann Arbor (city):

• Average home value: $489,157 as of the Zillow Home Value Index update through June 30, 2026, up 3.6% over the prior year, going to pending in around 7 days on average.
• Median sale price: $475,000 for the three-month period ending June 2026, up 3.0% year-over-year, with a median price per square foot of $312 (up 9.5% year-over-year).
• Days on market: Homes are selling in around 36 days on average over that same three-month window, compared to 33 days a year earlier.
• Sales volume: 386 homes sold in June 2026, up from 348 a year earlier.
• Competitiveness: Redfin rates the Ann Arbor market 62 out of 100 on its Compete Score, with homes typically receiving about 2 offers.

At a county median price of $435,000 with 20% down (a $348,000 loan) and a 30-year rate around 6.71%, principal and interest would run approximately $2,250 per month, before property taxes, insurance, and any HOA dues. At Ann Arbor's higher median of $475,000, that same 20%-down scenario runs closer to $2,460 per month in principal and interest. Washtenaw County property tax rates vary by township and school district, so it's worth pulling a specific parcel's tax history before finalizing a monthly budget estimate.

A Note on Rate Locks

For buyers closing within the next 30-45 days, locking in a rate sooner rather than later removes uncertainty tied to upcoming economic data releases. For those with a longer runway before closing, it can be worth checking updated quotes after each major report, since lenders typically reprice within a day of significant economic news.

Rate figures above reflect national averages as of early September 2026. Local Washtenaw County and Ann Arbor figures reflect the most recently published data as of this posting (dated individually above) and will vary by lender, credit profile, loan type, down payment, and specific property. Check with a mortgage professional and local agent for figures specific to your situation.

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Written by LIVgreat Real Estate, your trusted Washtenaw County real estate experts.
Email: hello@livgreatrealestate.com
Website: https://livgreatrealestate.com

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