Today’s mortgage rates
For borrowers, the morning’s evidence calls for separating weekly mortgage averages from the latest bond signal. Freddie Mac’s weekly survey released October 22, 2026, put the 30-year average at 7.32%, compared with 7.40% a week earlier. CNBC’s 10-year Treasury yield was 4.982%, below 5.04% in our last report but above the prior session close of 4.953%.
The weekly average is a dated survey measure, not today’s lender quote. Our interpretation of the bond readings is similarly limited: the comparison with our last report is favorable, while the session comparison points to upward pressure.
Although rates have elevated from recent lows, see if refinancing makes sense or tapping home equity is prudent. For home buyers, explore expert advice for 2026 and check if you qualify for financial assistance programs or more flexible loan options.
Current mortgage and refinance rates
Find your lowest rate. Start here| Program | Mortgage Rate | APR* | Change |
|---|---|---|---|
| Conventional 30-year fixed | |||
| Conventional 30-year fixed | 7.366% | 7.442% | Unchanged |
| Conventional 20-year fixed | |||
| Conventional 20-year fixed | 7.215% | 7.326% | -0.01 |
| Conventional 15-year fixed | |||
| Conventional 15-year fixed | 6.733% | 6.856% | -0.01 |
| Conventional 10-year fixed | |||
| Conventional 10-year fixed | 6.628% | 6.747% | -0.07 |
| 30-year fixed FHA | |||
| 30-year fixed FHA | 7.22% | 7.27% | +0.01 |
| 30-year fixed VA | |||
| 30-year fixed VA | 7.153% | 7.213% | -0.02 |
| 5/1 ARM Conventional | |||
| 5/1 ARM Conventional | 6.296% | 6.892% | +0.03 |
| Rates are provided by our partner network, and may not reflect the market. Your rate might be different. Click here for a personalized rate quote. See our rate assumptions See our rate assumptions here. | |||
>Related: 7 Tips to get the best refinance rate
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30-year fixed rate mortgage
At the time this was published, the average 30-year fixed mortgage rate reached 7.366%.
The average 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on January 7, 2021, and a record weekly high of 18.63% on October 9, 1981, according to Freddie Mac (survey data since 1971).
A 30-year FRM gives borrowers an affordable option but you pay more interest over the life of the loan compared to shorter mortgages.
15-year fixed rate mortgage
Today, the average 15-year fixed mortgage rate went to 6.733%.
The average 15-year fixed rate mortgage (FRM) hit a record weekly low of 2.10% on July 29, 2021, and a record weekly high of 8.89% on December 16, 1994, according to Freddie Mac (survey data since 1991).
The 15-year FRM offers borrowers a briefer term with less accrued interest, but the monthly payments will be much higher.
[click_table instance_v2="5caf80fdd8e3f21f6b2eee7e" hideWhen="br_swap"]5/1 adjustable-rate mortgage
This morning’s 5/1 adjustable rate mortgage averaged 6.296%.
Adjustable-rate mortgages (ARMs) typically have lower initial interest rates compared to fixed loans. Once that initial period ends, the interest rate adjusts to the current market conditions. In this case, the initial period is five years and the adjustments are up to once every year. Homeowners with shorter term lending plans tend to see these as advantageous.
What experts are expecting
Lisa Sturtevant, chief economist at Bright MLS
“I expect mortgage rates to increase from where they are now”
This reflects the expert’s personal opinion and outlook. It is not an offer or commitment to lend. Your actual rate and APR depend on your credit, loan amount, down payment, property and other factors, and will vary by lender.
Market data affecting today’s mortgage rates
Here’s a snapshot of the state of play as this article was published, with figures as of 8:31 a.m. Eastern on Friday, October 23, 2026. Each figure compares to the level in our previous report, published October 22, 2026, so much of the movement will often have happened in the previous session.
- The yield on 10-year Treasury notes decreased to 4.982% from 5.040% (Good for mortgage rates). Mortgage rates often follow these Treasury bond yields.
- Major stock indexes were mixed in the last session: Dow gained 0.02%, S&P 500 fell 1.21%, Nasdaq fell 2.60%. (Mixed for mortgage rates.) When investors sell shares and move into bonds, bond purchases can push prices up and yields down, potentially easing mortgage rates.
- Oil prices increased to $101.37 from $99.32 a barrel. (Bad for mortgage rates.*)
- Gold prices decreased to $4,038.70 from $4,080.30 an ounce. (Bad for mortgage rates.*)
- CNN Business Fear & Greed Index decreased to 23.7 from 28.1 out of 100, in “extreme fear” territory. (Good for mortgage rates.) “Fear” suggests investors are seeking safety, supporting bond prices and easing yields; “greed” suggests the opposite.
*A movement of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we only count meaningful differences as good or bad for mortgage rates.
Caveats about markets and rates
Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could look at the above figures and make a pretty good guess about what would happen to mortgage rates that day. That relationship is looser now.
So, use markets only as a rough guide. They have to be exceptionally strong or weak before they say much about the day’s lender pricing. We still make a daily call, and it is a judgment about the morning’s markets, not a forecast to bank on.
Our call for today: The 10-year yield is below our last report but above its prior session close. Our read is that mortgage quotes could stay near current levels as those comparisons offer no clear direction for today.
Be aware that “intraday swings” (when rates change speed or direction during the day) are a common feature right now.
Find your lowest rate. Start hereWhat’s driving mortgage rates today?
This week
Consumer Sentiment is the remaining scheduled focus for this week: Econoday lists it for Friday at 10:00 AM ET. It is marked high importance and upcoming as of 8:31 AM ET, so there is no result yet to weigh against the morning’s bond reading. Treat it as a point to reassess pricing conditions once the result is available.
The Treasury comparison explains why a lower reading since our last report does not establish a decline during the current session. CNBC’s current yield exceeds its prior close even though it sits below the level published in our previous article. Our read is that those different reference points warrant caution about treating the weekly mortgage decline as a guide to today’s quote.
Earlier calendar entries provide timing, without results: Tuesday’s Housing Starts and Permits was listed at 8:30 AM ET, Wednesday’s EIA Petroleum Status Report at 10:30 AM ET, and Thursday’s Jobless Claims at 8:30 AM ET. Those entries alone do not establish which report influenced mortgage pricing this week. When comparing offers, ask lenders for quotes on the same loan terms and check when each quote was prepared.
Recent trends
Freddie Mac’s October 22, 2026 Primary Mortgage Market Survey put the weekly 30-year fixed mortgage rate average at 7.32%, falling 8 basis points (0.08 percentage points) from 7.40% the previous week. The 15-year average was 6.68%. Freddie’s data serves as a market barometer and trend tracker, but individual rates vary by lender and depend on personal financial profiles.
Expert forecasts for mortgage rates
Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and forecasting what will happen to the economy, the housing sector and mortgage rates.
Here are their quarterly rate forecasts for the next year. The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie Mae updated its forecast on September 11 and MBA updated its forecast on September 16.
| Forecaster | Q3/26 | Q4/26 | Q1/27 | Q2/27 |
|---|---|---|---|---|
| Fannie Mae | 6.7% | 6.8% | 6.7% | 6.7% |
| MBA | 6.7% | 6.8% | 6.8% | 6.8% |
Of course, given so many unknowables, these forecasts might be even more speculative than usual, and both groups revise them often.
Time to make a move? Let us find the right mortgage for youMortgage rate methodology
The Mortgage Reports receives rates based on selected criteria from multiple lending partners each day. We arrive at an average rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better idea of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA fixed. The end result is a good snapshot of daily rates and how they change over time.
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Current mortgage rates methodology
We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our full loan assumptions here.
🏠 Equal Housing Lender. The Mortgage Reports, NMLS #1019791. Verify our licensing at NMLS Consumer Access. We do business in accordance with the Equal Credit Opportunity Act and federal Fair Housing laws. This article is for editorial and informational purposes only and is not an offer or commitment to lend; rates and terms are illustrative and subject to change without notice.
