Updated Oct 26, 2026
Today's Mortgage Rates
Average 30-year rates for the loans first-time buyers use most, and what they mean for your payment.
Daily, by loan type · as of Oct 26, 2026
30-yr conventional
7.20%
30-yr FHA
7.03%
30-yr VA
6.87%
30-yr USDA
7.03%
Freddie Mac weekly benchmark · week of Oct 22, 2026
30-yr fixed (weekly)
7.32%
15-yr fixed (weekly)
6.68%
National averages, not a quote. Your rate depends on credit, down payment and lender. Daily rates: Optimal Blue Mortgage Market Indices (average of locked loans). Weekly: Freddie Mac Primary Mortgage Market Survey. Retrieved from FRED, Federal Reserve Bank of St. Louis.
What are today's mortgage rates?
On Oct 26, 2026, the average 30-year fixed conventional rate on locked loans was 7.20%, down 0.12 points from a week earlier. Government-backed loans averaged 7.03% for FHA, 6.87% for VA and 7.03% for USDA, with VA the lowest today. Freddie Mac's weekly survey put the 30-year average at 7.32% for the week of Oct 22, 2026, compared with 7.40% the week before.
The 10-year Treasury yield, which fixed mortgage rates tend to follow, was 5.00% on Oct 23, 2026, down 0.09 points from a week earlier. A falling yield usually nudges lender pricing down within days, but it doesn't change a quote you already have. Ask lenders for quotes on the same day, for the same loan, to compare them fairly.
Rates by loan type, with the past year's range
| Loan (30-year fixed) | Today | This week | 52-week range | Minimum down | Minimum credit score |
|---|---|---|---|---|---|
| Conventional | 7.20% | Down 0.12 this week | 5.90% to 7.46% | 3% | 620 |
| FHA | 7.03% | Down 0.09 this week | 5.84% to 7.21% | 3.5% | 580 (500 with 10% down) |
| VA | 6.87% | Down 0.07 this week | 5.53% to 7.13% | 0% | None set by VA; lenders often want 620 |
| USDA | 7.03% | Down 0.13 this week | 5.70% to 7.26% | 0% | None set by USDA; 640 for automated approval |
VA loans require eligible military service. USDA loans require an eligible rural or suburban address and household income within the county limit.
How rates have moved this year
30-yr conventional: the past year
Oct 27, 2025 to Oct 26, 2026. Hover or tap the line for any day's rate.
Show the data as a table
| Date | 30-yr conventional |
|---|---|
| Oct 26, 2026 | 7.20% |
| Sep 30, 2026 | 7.39% |
| Aug 31, 2026 | 6.72% |
| Jul 31, 2026 | 6.72% |
| Jun 30, 2026 | 6.45% |
| May 29, 2026 | 6.44% |
| Apr 30, 2026 | 6.31% |
| Mar 31, 2026 | 6.35% |
| Feb 27, 2026 | 5.90% |
| Jan 30, 2026 | 6.07% |
| Dec 31, 2025 | 6.16% |
| Nov 26, 2025 | 6.14% |
| Oct 31, 2025 | 6.16% |
Last reading of each month.
What today's rates mean for your payment
A $300,000 home with each loan's minimum down payment, at today's average rate.
| Loan | Down payment | Amount borrowed | Principal and interest | Mortgage insurance | Monthly total |
|---|---|---|---|---|---|
| Conventional at 7.20% | $9,000 | $291,000 | $1,976 | $133 | $2,109 |
| FHA at 7.03% | $10,500 | $294,566 | $1,965 | $133 | $2,098 |
| VA at 6.87% | $0 | $306,450 | $2,012 | None | $2,012 |
| USDA at 7.03% | $0 | $303,000 | $2,022 | $88 | $2,111 |
Amount borrowed includes the upfront FHA premium, VA funding fee (first use) or USDA guarantee fee. Conventional mortgage insurance is an estimate. Property taxes, homeowners insurance and HOA dues are not included. Each quarter-point higher rate adds about $49 a month on the conventional example. Run your own numbers.
A lower rate is one way to save. Assistance is another.
Down payment assistance and closing cost grants can cut thousands from what you need at closing. See which programs you may qualify for, then get pre-approved to see the rate a lender will give you.
What sets your mortgage rate
The averages above are a starting point. Lenders adjust from there based on how risky your loan looks to them:
- Credit score. Pricing moves in score bands, usually 20 points wide. Moving from 679 to 680 can lower your rate; the best pricing generally starts around 740 to 780.
- Down payment. A larger down payment lowers the loan-to-value ratio, which can lower the rate and the cost of mortgage insurance.
- Loan type. FHA, VA and USDA loans are government-backed, so lenders often price them below conventional loans for buyers with average credit.
- Loan term. A 15-year loan carries a lower rate than a 30-year loan but a higher monthly payment.
- Property and occupancy. A home you live in gets better pricing than a second home or rental. Condos and multi-unit homes can price higher.
- Discount points. Paying points at closing buys the rate down. A lender credit does the opposite: a higher rate in exchange for help with closing costs.
- The market. Rates follow the bond market, inflation and Federal Reserve policy, which is why they move every day.
How to get a lower rate than average
- Get at least three quotes on the same day. Rates differ from lender to lender for the same borrower. Multiple mortgage credit checks within about 45 days count as one inquiry for most scoring models.
- Compare Loan Estimates, not advertised rates. Every lender must give you the same three-page Loan Estimate within three business days of applying. Check the rate, APR, points (section A) and total closing costs side by side.
- Use the APR to spot fees. APR folds lender fees and points into one yearly figure. A low rate with a much higher APR means you're paying for that rate up front.
- Ask a lender to beat a competing offer. Show the lender you prefer another lender's Loan Estimate. Many will match or improve it to keep your business.
- Fix your credit before you apply. Pull your free reports at AnnualCreditReport.com a few months ahead, dispute errors and pay card balances down below 30% of their limits.
Fixed rate or adjustable rate?
A fixed-rate mortgage keeps the same rate and principal-and-interest payment for the life of the loan. An adjustable-rate mortgage (ARM) starts with a rate fixed for 5, 7 or 10 years, then resets every six months or year with the market, within caps. An ARM can make sense if you're confident you'll sell or refinance before the first reset. For most first-time buyers planning to stay put, a fixed rate is the safer choice. If rates fall later, you can refinance.
Estimate your payment at today's rates
Each calculator starts at today's average rate for its loan type. Change the rate to match your quote.
Mortgage rate questions
What mortgage rate will I get?+−
Are FHA rates lower than conventional rates?+−
How do VA and USDA loans compare on rate?+−
Should I get a 15-year or 30-year mortgage?+−
How often do mortgage rates change?+−
Does down payment assistance change my mortgage rate?+−
When should I lock my rate?+−
Where these rates come from
Daily rates by loan type are Optimal Blue's Mortgage Market Indices: the average rate on loans lenders locked through Optimal Blue's pricing engine on the most recent business day. The weekly figures are Freddie Mac's Primary Mortgage Market Survey of conventional, conforming loans, published Thursdays. The 10-year yield is the U.S. Treasury constant-maturity rate. All are retrieved from FRED, Federal Reserve Bank of St. Louis and refreshed several times a day. They are national averages for comparison, not an offer of credit.