The latest cited mortgage-rate readings are rising, not falling. Freddie Mac’s weekly survey put the average 30-year fixed purchase-loan rate at 7.28% and the 15-year rate at 6.60% on October 1, both higher than the previous week. A separate daily rate-lock measure reported higher readings for October 5. Neither series is a personalized quote, and the available figures do not establish a national refinance rate for October 7.
Mortgage rates today: the latest available readings
These figures come from different sources and methods, so compare them as separate snapshots rather than as points on one continuous series.
| Loan type and series | Rate | Observation date and context |
|---|---|---|
| 30-year fixed, Freddie Mac Primary Mortgage Market Survey | 7.28% | October 1, 2026; average for the survey’s specified purchase-loan assumptions. It was 7.03% the prior week and 6.34% a year earlier. Freddie Mac |
| 15-year fixed, Freddie Mac Primary Mortgage Market Survey | 6.60% | October 1, 2026; average for the survey’s specified purchase-loan assumptions. It was 6.42% the prior week and 5.55% a year earlier. Freddie Mac |
| 30-year fixed, Optimal Blue rate-lock benchmark reported by Mortgage Daily | 7.46% | October 5, 2026; reported in an October 6 article. This is a separate daily rate-lock measure, not the Freddie Mac weekly survey. Mortgage Daily |
| 15-year fixed, Optimal Blue rate-lock benchmark reported by Mortgage Daily | 6.80% | October 5, 2026; reported in an October 6 article. This is a separate daily rate-lock measure, not the Freddie Mac weekly survey. Mortgage Daily |
Freddie Mac’s weekly averages are also recorded in the Federal Reserve Bank of St. Louis FRED release table. FRED mortgage-rate release table
What are mortgage rates today for a 30-year fixed?
The most recent cited Freddie Mac weekly average is 7.28% as of October 1, 2026. The separate Optimal Blue rate-lock benchmark reported by Mortgage Daily was 7.46% for October 5. The difference reflects distinct data series and dates; it does not mean one is a quote available to every borrower.
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What are mortgage rates today for a 15-year fixed?
Freddie Mac reported a 6.60% weekly average as of October 1, while Mortgage Daily reported an Optimal Blue rate-lock benchmark of 6.80% for October 5. Both readings had risen from their previous observations in their respective series.
Are purchase rates falling?
No: the latest cited observations point upward. Freddie Mac’s 30-year average increased 25 basis points from 7.03% the previous week, and its 15-year average increased 18 basis points from 6.42%. The October 5 daily rate-lock observations were also reported higher than their previous readings. Freddie Mac chief economist Sam Khater said, “With mortgage rates on their current trajectory, the housing market continues to be supported by favorable economic conditions.” Freddie Mac’s October 1 release
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Do these averages apply to refinance loans?
Not directly. Freddie Mac’s survey focuses on conventional, conforming, fully amortizing home-purchase loans for borrowers putting 20% down with excellent credit. It is not a universal refinance-rate index. The cited material does not establish a single national refinance quote for October 7, so a homeowner refinancing should seek current lender quotes based on their own loan, property, and borrower details.
Will mortgage rates go down?
No reliable direction is guaranteed by these snapshots. The Federal Reserve’s federal funds target range was 3.75%–4.00% after its September 15–16, 2026 meeting; Fortune’s October 7 report lists October 27–28 as the next scheduled meeting. The Fed does not directly set mortgage rates, and the available coverage does not establish that more people expect it to hold rates steady. Fortune’s October 7 report
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Mortgage rates can move with broader financial-market conditions as well as borrower and loan characteristics. An upcoming Fed meeting alone is not a dependable forecast of the rate a lender will offer.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why your lender’s rate may differ
A national average is a benchmark, not an individual offer. Lenders price loans based on borrower, property, and loan details; credit score, down payment, loan amount, program, term, location, occupancy, and property type can all matter. LendingTree’s overview of mortgage-rate factors
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- CONFIDENTLY AND EASILY SOLVE: Clients' financial questions whether they're buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions from PITI Payments to IRR, NPV and Cashflows
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: For your client at the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or TVM calculations find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: To your clients by reducing their confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket user's guide, and long-life battery
To compare quotes fairly, request offers using matching assumptions and review the full cost, not just the headline interest rate:
- Loan type and term, such as a 30-year fixed purchase loan or a refinance.
- Loan amount, down payment or equity, property location, occupancy, and property type.
- Interest rate, APR, discount points, lender fees, and other applicable charges.
- Whether the quoted rate is locked, and the lock period and conditions.
Mortgage Bankers Association application data cited by Fortune showed applications down 6% for the week ending September 25, 2026, and adjustable-rate mortgages at 10.3% of total applications. Those figures describe application activity, not the rate an individual borrower will receive. MBA vice president and deputy chief economist Joel Kan said, “Mortgage rates jumped to their highest level in almost three years, pushing borrowers to the sidelines,” as quoted by Fortune’s October 7 report.
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Are a mortgage’s interest rate and APR the same?
No. The interest rate is the cost of borrowing expressed as a percentage; APR also includes applicable fees, so it is generally higher. Compare both figures alongside points and lender charges when assessing offers. The 5/1 ARM figure in Mortgage Daily’s daily report uses a different provider and is an APR, so it is not directly comparable to that report’s Optimal Blue fixed-rate observations. Mortgage Daily
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