Mortgage Rates Today: 7.32% (30-Year) and 6.68% (15-Year)
The average 30-year fixed mortgage rate was 7.32% in Freddie Mac's survey for the week of October 22, 2026, down 0.08 points from 7.40% the week before. The 15-year fixed averaged 6.68%. A year earlier the 30-year rate was 6.19%, so a $400,000 loan now costs about $300 more a month in principal and interest (our arithmetic). Your own rate depends on your credit score, down payment, loan type and points.
Freddie Mac's Primary Mortgage Market Survey averages the rates on thousands of applications submitted to it through Loan Product Advisor, from the prior Thursday through Wednesday. It is published every Thursday at 12 p.m. Eastern; we update this page after each release.
What today's rate means for your payment
| Week | 30-year rate | Payment on $400,000, 30 years | 15-year rate | Payment on $400,000, 15 years |
|---|---|---|---|---|
| This week (Oct 2026) | 7.32% | $2,748 | 6.68% | $3,524 |
| A year ago (Oct 2025) | 6.19% | $2,447 | 5.44% | $3,256 |
| 52-week low (Feb 2026) | 5.98% | $2,393 | 5.44% | $3,256 |
Each quarter point adds about $68 a month to a $400,000 30-year loan at today's rate. Run your own numbers, with taxes and insurance, in the calculator below or in the home affordability calculator.
Rates lenders publish
Several large lenders post sample rates on their own sites. Each assumes a specific borrower (credit score, down payment, loan size, location) and often a discount point or two, so read the assumptions before comparing them with the survey average or with each other.
| Lender | 30-year fixed | 15-year fixed | Sample assumptions |
|---|---|---|---|
| Better | 6.750% (APR 7.036%) | 6.000% (APR 6.411%) | Dallas ZIP 75201, $350,000 loan, 20% down, credit score 760+; points and fees about 2.43% of the loan (Oct 21) |
| Navy Federal Credit Union | 6.875% (APR 7.049%), 0.75 points | 6.250% (APR 6.469%), 0.375 points | "As low as" purchase rates, single-family primary home; 1% origination fee; membership required (Oct 21) |
| Chase | 7.000% (APR 7.218%), 2.165 points | 6.125% (APR 6.442%), 1.99 points | Chicago ZIP 60629, $350,000 loan, 20% down, purchase (Oct 20, 10:02 a.m. ET) |
| Citi | 7.000% (APR 7.128%), 0.875 points | 6.375% (APR 6.599%), 1 point | Los Angeles, $600,000 home, $450,000 loan (75% LTV), excellent credit, 60-day lock (Oct 20) |
| U.S. Bank | 7.125% to 7.25% by state (APR 7.271% to 7.438%) | 6.49% to 6.75% by state | $405,000 loan, 25% down, credit score 740+, 45-day lock (Oct 20) |
| Wells Fargo | 7.375% (APR 7.540%), 0.875 points | 6.750% (APR 6.989%), 0.75 points | Austin, Texas, $400,000 price, $320,000 loan, credit score 760, 30-day lock (Oct 20, 10:15 a.m. ET) |
| BECU | 7.375% (APR 7.420%), 0.5-point lender credit | 6.500% (APR 6.725%), 0.5 points | Purchase, 80% LTV, $425,000, excellent credit; lends in 10 states (Oct 20) |
| Bank of America | 7.500% (APR 7.717%), 0.592 points | 6.750% (APR 7.126%) | California ZIP 95464, $250,000 price, $200,000 loan (80% LTV), credit score 740, 45-day lock (Oct 20, 10:10 a.m. ET) |
FHA and VA mortgage rates
Government-backed loans often carry rates close to or below conventional rates, but their APRs are higher than the rate: FHA loans charge mortgage insurance premiums (an upfront premium of 1.75% of the loan plus an annual premium), and VA loans have a funding fee. Compare APRs, not just rates.
| Lender | 30-year FHA | 30-year VA | Notes |
|---|---|---|---|
| Better | 6.500% (APR 7.551%) | 6.500% (APR 6.704%) | Points and fees about 2% of the loan; Dallas ZIP 75201 |
| Citi | 6.625% (APR 7.299%), 1 point | 6.625% (APR 6.947%), 1 point | Los Angeles sample |
| Chase | 6.625% (APR 7.499%), 1.975 points | Not shown | $250,000 FHA loan, 5% down, Chicago ZIP 60629 |
| Navy Federal Credit Union | Not shown | 6.625% (APR 7.059%), 0.375 points | "As low as"; membership required |
| Wells Fargo | Not shown | 6.750% (APR 6.998%), 1 point | $324,000 loan including the VA funding fee, credit score 740, Austin, Texas |
| BECU | 6.750% (APR 7.655%), 1 point | 6.750% (APR 7.120%), 1 point | FHA $310,000 at 96.5% LTV; VA at 100% LTV; 10 states |
| U.S. Bank | 6.99% to 7.75% by state | 6.99% to 7.125% by state | Credit score 680+ for FHA; $270,019 FHA and $305,059 VA sample loans |
What moves mortgage rates
- The 10-year Treasury yield. Fixed mortgage rates move with longer-term bond yields. The 10-year yield was 5.12% on October 22, 2026, the survey's release date, against 4.01% a year earlier. The gap between the 30-year mortgage average and that yield was 2.20 points, against 2.18 a year ago (our arithmetic), so the change in mortgage rates over the year has tracked the change in Treasury yields.
- The Federal Reserve. The Fed sets a short-term rate, not mortgage rates. It raised its target range to 3.75% to 4.00% on September 16, 2026; its next decisions are on October 28 and December 9, 2026. Mortgage rates can move before a decision, as bond markets anticipate it.
- The forecast. Fannie Mae's October 2026 housing forecast (dated October 12) expects the 30-year rate to average 7.4% in the fourth quarter of 2026 and 7.5% in each quarter of 2027. Forecasts are often wrong; treat them as one view, not a promise.
- Your own file. Lenders price each loan by credit score, down payment (loan-to-value), loan amount, loan type (conventional, FHA, VA, jumbo), property type and occupancy, and whether you pay discount points.
Mortgage rates over the past three years
Average mortgage rates by year
| Year | 30-year average | 30-year low to high | 15-year average |
|---|---|---|---|
| 2026 (to date) | 6.50% | 5.98% to 7.40% | 5.85% |
| 2025 | 6.60% | 6.15% to 7.04% | 5.78% |
| 2024 | 6.72% | 6.08% to 7.22% | 5.96% |
| 2023 | 6.81% | 6.09% to 7.79% | 6.11% |
| 2022 | 5.34% | 3.22% to 7.08% | 4.58% |
| 2021 | 2.96% | 2.65% to 3.18% | 2.27% |
| 2020 | 3.11% | 2.66% to 3.72% | 2.60% |
| 2019 | 3.94% | 3.49% to 4.51% | 3.39% |
| 2018 | 4.54% | 3.95% to 4.94% | 4.00% |
| 2017 | 3.99% | 3.78% to 4.30% | 3.27% |
| 2016 | 3.65% | 3.41% to 4.32% | 2.93% |
| 2015 | 3.85% | 3.59% to 4.09% | 3.09% |
| 2010 | 4.69% | 4.17% to 5.21% | 4.10% |
| 2005 | 5.87% | 5.53% to 6.37% | 5.42% |
| 2000 | 8.05% | 7.13% to 8.64% | 7.72% |
| 1995 | 7.93% | 7.11% to 9.22% | 7.48% |
| 1990 | 10.13% | 9.56% to 10.67% | - |
| 1985 | 12.43% | 11.09% to 13.29% | - |
| 1981 | 16.64% | 14.80% to 18.63% | - |
| 1980 | 13.74% | 12.18% to 16.35% | - |
| 1975 | 9.05% | 8.80% to 9.60% | - |
| 1971 | 7.54% | 7.29% to 7.73% | - |
How to get a rate below the average
- Get several quotes the same day. Rates change daily and differ between lenders for the same borrower. Compare the Loan Estimates, which use a standard federal form.
- Compare APR and points, not just the rate. The APR adds points, broker fees and other charges to the interest rate, the CFPB explains. One discount point costs 1% of the loan and lowers the rate; a lender credit works the other way, lowering closing costs for a higher rate. Several samples in the lender table above include points.
- Improve what you can before applying: credit score, a larger down payment (20% avoids PMI on a conventional loan) and a lower debt-to-income ratio.
- Consider the term. The 15-year average is 0.64% points lower than the 30-year, but the payment is higher; see 15-year vs 30-year mortgage.
- Stay under the conforming limit if you can. Loans up to $832,750 for a one-unit home in most of the country ($1,249,125 in high-cost areas) can be sold to Fannie Mae and Freddie Mac in 2026, according to FHFA. Larger jumbo loans are priced differently. FHFA usually announces the next year's limit in late November.
- Lock when you're ready. A rate lock holds a quoted rate for a set period while the loan closes.
For context on what existing homeowners pay, see the average mortgage payment; for borrowing against a home you already own, see HELOC rates; to replace your current loan, see refinance rates and the refinance calculator.
FAQ
What are mortgage rates today?
Freddie Mac's survey put the average 30-year fixed rate at 7.32% and the 15-year at 6.68% for the week of October 22, 2026. The survey is released every Thursday at 12 p.m. Eastern and averages rates on applications from the prior Thursday through Wednesday.
Are mortgage rates going up or down?
The 30-year average is up 1.13 points from a year ago (6.19%) and down 0.08 points from 7.40% the week before. Its range over the past 52 weeks was 5.98% to 7.40%. Nobody can reliably predict next week's rate.
Does the Fed set mortgage rates?
No. The Federal Reserve sets a short-term rate. Fixed mortgage rates track longer-term bond yields, especially the 10-year Treasury, which was 5.12% on October 20, 2026. Fed decisions affect mortgage rates mainly through what they do to those yields.
What is the difference between the rate and the APR?
The interest rate sets your monthly payment. The APR adds certain costs, such as discount points and some lender fees, and spreads them over the loan, so it is usually higher. Compare APRs between lenders on the same loan.
What was the highest mortgage rate ever?
18.63% for a 30-year fixed, in the week of October 9, 1981. The lowest was 2.65% on January 7, 2021. Freddie Mac's survey goes back to April 1971.
Sources
- Freddie Mac, Primary Mortgage Market Survey (week of October 22, 2026) and the full weekly history since 1971.
- Federal Reserve, H.15 Selected Interest Rates: 10-year Treasury constant maturity (series DGS10).
- Federal Reserve, FOMC meeting calendar and September 16, 2026 statement.
- Fannie Mae, Housing Forecast, October 2026.
- FHFA, conforming loan limit values for 2026.
- CFPB: interest rate vs APR and points and lender credits.
- Lenders' own rate pages and rate data, linked in the lender table (read October 20-21, 2026).
General information, not financial advice. Survey averages are not offers; confirm rates and terms with a lender.