Mortgage Rates Today
National averages from Freddie Mac's weekly survey, as of October 15, 2026. Your quote will differ by credit score, down payment, points and lender, but this is the number the whole market moves around.
The last 52 weeks
What a $400,000 loan costs this week
| Loan | Rate | Monthly principal & interest | Change |
|---|---|---|---|
| 30-year fixed | 7.40% | $2,770 | +$0 vs last week, +$294 vs a year ago |
| 15-year fixed | 6.71% | $3,531 | $761 more per month, pays off 15 years sooner and saves $361,488 in total interest |
Taxes, insurance and HOA come on top. Run your own numbers in the affordability calculator, or see whether buying points pays off at these rates.
Last 12 weeks
| Week of | 30-year | 15-year | P&I on $400,000 (30-yr) |
|---|---|---|---|
| 2026-10-15 | 7.40% | 6.71% | $2,770 |
| 2026-10-08 | 7.40% | 6.73% | $2,770 |
| 2026-10-01 | 7.28% | 6.60% | $2,737 |
| 2026-09-24 | 7.03% | 6.42% | $2,669 |
| 2026-09-17 | 6.95% | 6.26% | $2,648 |
| 2026-09-10 | 6.76% | 6.09% | $2,597 |
| 2026-09-03 | 6.71% | 6.04% | $2,584 |
| 2026-08-27 | 6.66% | 5.98% | $2,571 |
| 2026-08-20 | 6.65% | 5.95% | $2,568 |
| 2026-08-13 | 6.67% | 5.96% | $2,573 |
| 2026-08-06 | 6.69% | 6.01% | $2,578 |
| 2026-07-30 | 6.66% | 6.04% | $2,571 |
What moves mortgage rates
Mortgage rates track the 10-year Treasury yield far more closely than the Fed funds rate. A Fed cut can coincide with rising mortgage rates if inflation expectations rise, and vice versa. The spread between the 30-year mortgage and the 10-year Treasury, historically about 1.7 points, has run wider since 2022 as lenders price prepayment and rate-volatility risk; when that spread narrows, mortgage rates fall even with Treasuries flat.
The weekly figure above is an average of lender quotes for borrowers with strong credit and 20% down. The rate you are offered depends on your credit score, loan-to-value, whether you pay points, the loan size and the lender's own pricing. Two lenders can differ by a quarter point on the same day, which on a $400,000 loan is about $69 a month.
How to use this number
- Compare quotes against the average: a rate well above it with no points is a signal to shop.
- Rate locks typically run 30 to 60 days; if you are within that window of closing, the weekly direction matters more than the level.
- Refinancing usually makes sense when the new rate is at least 0.75 to 1 point below your current one and you will keep the loan long enough to recover closing costs.
- Freddie Mac Primary Mortgage Market Survey · Freddie Mac
- 30-Year Fixed Rate Mortgage Average in the United States (MORTGAGE30US) · FRED, Federal Reserve Bank of St. Louis
- 15-Year Fixed Rate Mortgage Average in the United States (MORTGAGE15US) · FRED, Federal Reserve Bank of St. Louis
Updated every week after Freddie Mac publishes on Thursday. Figures are national averages, not offers.