Today's 10-year ARM rates | Saturday, August 29, 2026
Last updated 3:00 AM EDT
On Saturday morning, August 29, 2026, the average interest rate on a 10-year adjustable-rate mortgage held steady at 6.55% APR, compared to yesterday.
The 10-year ARM rate is six basis points lower than one week ago and 13 basis points higher than one year ago.
A basis point is one hundredth of a percent, or 0.01%. We describe mortgage rates’ ups and downs in basis points because they simplify comparisons.
NerdWallet’s rates are expressed as an
annual percentage rate, or APR, and our mortgage rates data comes from Zillow.
DATA: What's the Homebuying Climate this month?
NerdWallet's Homebuying Climate Index puts a familiar weather label on how favorable conditions are for home buyers.
For August, our analysis puts the Climate Index at 53.2 out of 100, keeping the index in Partly Cloudy territory for the 49th straight month as most variables hold relatively steady.
Read more about the factors affecting this month's index to gauge how they might affect your homebuying plans.
10-Year ARMs: How They Work and When to Consider One
NerdWallet’s mortgage comparison tool can help you compare 10-year ARMs and choose the one that works best for you. Just enter some information and you’ll get customized rate quotes chosen from hundreds of participating lenders. No need to give out any personal information or go through a credit check. What is a 10-year ARM?
A 10-year adjustable-rate mortgage, also known as a 10/6 ARM, is an adjustable-rate mortgage (ARM) with an interest rate that is initially fixed for 10 years then adjusts every six months. A 10-year ARM typically begins with a lower introductory rate than a fixed-rate loan. After the initial fixed period, the rate adjusts twice a year based on a variety of economic and financial market factors.Rate adjustments are tied to an interest rate index, which in most cases is the secured overnight financing rate (SOFR), plus a fixed margin set by the lender.
When should you consider a 10-year ARM?
A 10-year ARM makes sense if you plan to refinance your mortgage or sell your house before the introductory rate expires, or if you expect the value of your house to rise quickly. If you choose a 10-year ARM, you’ll likely be able to qualify for a larger loan because of the lower introductory rate. But be careful, your interest rate and monthly payment will increase after the 10-year introductory period, and it can climb substantially depending on the terms of your specific loan and the broader market.
ARM glossary
Index: The benchmark rate that reflects overall market conditions. Most ARMs use the 30-day average SOFR, which can rise or fall over time. The index is used together with the margin to determine your adjustable interest rate. Margin: A fixed number of percentage points that the lender adds to the index to calculate the interest rate at each adjustment. The margin does not change over the life of the loan. For example, if the index rate is 3.985% and your margin is 2.75 percentage points, your interest rate would be 6.75% after rounding.
Rate cap: The maximum amount your loan’s interest rate can increase or decrease at the first adjustment, each time thereafter and over the life of the loan. Rate caps help protect borrowers from large, sudden payment changes.
Learn more about adjustable-rate mortgages:
