--- title: 'Today''s Mortgage Rates: October 23, 2026' description: Mortgage rates remain in the low 7% range as recent data shows weakness in the housing market. authors: - name: Leslie Cook role: Editor, Real Estate url: https://money.com/author/leslie-cook/ bio: Leslie Cook is Money’s lead real estate editor covering trends in the housing market, mortgage rates and real estate. She also writes about home renovation trends and tips. education: Bryn Mawr College, BA History certifications: Certified Personal Finance Counselor at_money_since: 2019 articles: 800 covers: - Mortgages - Banking - Credit - Economy and Politics - Housing - Identity Theft - Insurance - Loans - Personal Finance - Professional Services - Retirement - Taxes social: - https://twitter.com/LeslieLCook - https://www.linkedin.com/in/leslie-cook-9829b9198/ published: '2026-10-23T12:02:08.000Z' modified: '2026-10-23T12:02:08.000Z' section: Mortgages word_count: 723 canonical: https://money.com/current-mortgage-rates/ type: Article source: structured-blocks --- > **Disclosure:** We may earn a fee if you click on the links below. Compensation does not determine ranking. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Today's Mortgage Rates: October 23, 2026](https://img.money.com/2026/10/todays-mortgage-rates-B-2880x2160-1.jpg?quality=85&w=1012&h=569&crop=1) ## Average mortgage rates today | Mortgage Type | Label | Rate | APR | | --- | --- | --- | --- | | 30-Year Fixed | Most Popular | 7.08% | 7.12% | | 30-Year FHA | Lower Credit | 6.67% | 7.87% | | 30-Year VA | Military | 6.76% | 6.93% | | 30-Year Jumbo | High Balance | 7.35% | 7.37% | | 15-Year Fixed | Shorter Term | 6.44% | 6.52% | | 7/6 ARM | Shorter Term | 6.6% | 6.67% | | HELOC | Home Equity | 8.02% | 8.02% | | Home Equity Loan | Home Equity | 8.23% | 8.23% | Updated on 10/24/2026 Rate data provided by [RateUpdate.com](https://www.rateupdate.com/). Displayed by Mortgage Research Center, LLC, NMLS# 1907, Equal Housing Opportunity, Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and Product [details](https://widgets.icanbuy.com/disclaimer.htm) ![](https://s3.consumersadvocate.org/prd/image/image/26681/large_57f09f10-efb8-487d-a73e-5f7d605144eb.png) Selected as Money's Best Overall Mortgage Lender of 2026! [View Rates](https://money.com/pr/g9ff07c5498a?ap_referrer=%2Fcurrent-mortgage-rates%2F&url=&apxa1=average-credit-score-drops-student-loans-mortgages) Mortgage rates ticked lower again, with the 30-year fixed-rate loan averaging 7.17%, down 0.01 percentage points. Rates are holding in the low 7% range for now. ## Key mortgage rate averages: - The 30-year fixed-rate mortgage averaged 7.17% APR - The 30-year fixed-rate FHA mortgage averaged 7.95% APR - The 30-year fixed-rate VA mortgage averaged 6.99% APR - The 30-year fixed-rate jumbo mortgage averaged 7.44% APR - The 15-year fixed-rate mortgage averaged 6.56% APR - The 7/6 adjustable-rate mortgage averaged 6.75% APR - The rate on a HELOC averaged 8.02% APR - The rate on a home equity loan averaged 8.23% APR ## Mortgage rate trends Mortgage rates are trending lower this week as housing starts and pending home sales showed weakness. At the same time, jobless claims were lower than anticipated, showing a stable labor market. Yields on the 10-year Treasury note have fallen nearly three percentage points since early October, pushing interest rates lower. Despite the recent decline, rates remain above 7% and are likely to stay in that range. Inflation concerns and the rising national debt mean rates are unlikely to fall significantly in the near term. ## Which loan is best for you? When shopping for a mortgage, you may be offered several loan options to meet different needs. Here's a rundown of the most common loan types you'll find, and who they work best for. **30-year conventional mortgage:** Conventional loans work best for borrowers who have a credit score above 620, have saved enough to make a down payment of at least 3% and are looking for flexibility in the type of property being purchased. **30-year Federal Housing Administration (FHA) mortgage:** FHA loans are good for first-time homebuyers, borrowers with less-than-perfect credit scores or those with a high debt-to-income ratio. **30-year U.S. Department of Veterans Affairs (VA) loan:** Specifically designed for active-duty and retired service members, members of the National Guard and Reserves, and surviving spouses. Offers 0% down loan options, competitive rates and accepts less-than-perfect credit scores. **30-year jumbo loan:** Good for homebuyers purchasing property that is priced above the Federal Housing Finance Agency (FHFA) conforming loan limit. In 2026, that limit is $832,750 in most of the U.S. but increases to $1,249,125 in high-cost areas. **15-year fixed-rate loan:** Borrowers who prefer a shorter loan term and can afford to make higher monthly payments will pay less overall interest with a 15-year mortgage and pay off the loan faster. **7/6 adjustable rate loan:** Good for a buyer who wants to lock in a favorable interest rate for a set period of time and either plans on selling the home before the interest rate starts, is willing to make a higher monthly payment once the rate becomes variable or is open to refinancing the loan. **Home equity line of credit (HELOC):** A good option for a homeowner who wants to access the equity they've accumulated in their home and have an open line of credit to use as needed. **Home equity loan:** Another option for a homeowner who wants to access their home equity and have the financial capacity to take on a second mortgage. ![](https://s3.consumersadvocate.org/prd/image/image/26681/large_57f09f10-efb8-487d-a73e-5f7d605144eb.png) Selected as Money's Best Overall Mortgage Lender of 2026! [View Rates](https://money.com/pr/g9ff07c5498a?ap_referrer=%2Fcurrent-mortgage-rates%2F&url=&apxa1=average-credit-score-drops-student-loans-mortgages) ## How mortgage rates affect affordability Your mortgage rate can make a big difference in how much home you can afford and how large your monthly payments are. That's true whether buying your primary residence, an investment property or refinancing an existing loan. Here's an example. If you bought a $250,000 home and made a 20% down payment of $50,000, your starting loan balance would be $200,000. On a $200,000 home loan with a fixed rate for 30 years, here's what you would pay: - At a 3% interest rate = $843 in monthly payments (not including taxes, insurance, or HOA fees) - At a 4% interest rate = $955 in monthly payments (not including taxes, insurance, or HOA fees) - At a 6% interest rate = $1,199 in monthly payments (not including taxes, insurance, or HOA fees) - At an 8% interest rate = $1,468 in monthly payments (not including taxes, insurance, or HOA fees) Using a [mortgage calculator](https://money.com/mortgage-calculator/) lets you see how a lower rate or other changes could affect what you pay. A [home affordability calculator](https://money.com/how-much-house-can-i-afford/) can also estimate the maximum loan amount you may qualify for based on your income, debt-to-income ratio, mortgage interest rate and other variables. The [Consumer Financial Protection Bureau](https://www.consumerfinance.gov/owning-a-home/explore-rates/) can also provide a range of rates lenders offer in each state. ## Current mortgage rates FAQs ### What is today's current mortgage rate? The average rate on a 30-year fixed-rate mortgage is 7.17% as of October 22, according to Money's rate data. Other rate surveys show 30-year rates averaging above 7.3%. ### What are mortgage rates today? As of Oct. 22, the rate on a 30-year fixed-rate mortgage was averaging 7.17%, according to Money's rate data. The average rate for a 15-year fixed-rate loan is 6.56% ### Will mortgage rates get to 4% in 2026? No, they won't. The current average rate for a 30-year fixed-rate mortgage is 7.18%, and most housing experts expect rates to stay near or above 7% through year's end. ### How much is a $300,000 mortgage at 7%? The monthly payment on a 30-year, $300,000 conventional mortgage at 7% is $1,995.91, excluding taxes, insurance and HOA fees. Your actual payment will vary depending on your credit score, down payment, lender and location, among other factors. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/current-mortgage-rates/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Mortgages", "item": "https://money.com/mortgages/" }, { "@type": "ListItem", "position": 3, "name": "Mortgage Rates", "item": "https://money.com/mortgage-rates/" }, { "@type": "ListItem", "position": 4, "name": "Today's Mortgage Rates: October 23, 2026" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/current-mortgage-rates/#webpage", "url": "https://money.com/current-mortgage-rates/", "name": "Today's Mortgage Rates: October 23, 2026", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2026-10-23T12:02:08.000Z", "mainEntity": { "@id": "https://money.com/current-mortgage-rates/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/current-mortgage-rates/#breadcrumb" }, "dateModified": "2026-10-23T12:02:08.000Z" }, { "@type": "Article", "headline": "Today's Mortgage Rates: October 23, 2026", "articleSection": "Mortgages", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2026/10/todays-mortgage-rates-B-2880x2160-1.jpg?quality=85", "width": 2880, "height": 2160 } ], "author": [ { "@type": "Person", "name": "Leslie Cook", "url": "https://money.com/author/leslie-cook/", "@id": "https://money.com/author/leslie-cook/#author", "description": "Leslie Cook is Money’s lead real estate editor covering trends in the housing market, mortgage rates and real estate. She also writes about home renovation trends and tips.", "image": "https://img.money.com/2020/04/Money_Headshots_2025-46.jpg?quality=85&w=640&h=640&crop=1", "email": "leslie@money.com", "jobTitle": "Editor, Real Estate", "hasCredential": [ { "@type": "EducationalOccupationalCredential", "credentialCategory": "certification", "name": "Certified Personal Finance Counselor" } ], "alumniOf": "Bryn Mawr College, BA History", "sameAs": [ "https://twitter.com/LeslieLCook", "https://www.linkedin.com/in/leslie-cook-9829b9198/" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "publisher": "https://money.com/#organization", "datePublished": "2026-10-23T12:02:08.000Z", "description": "Mortgage rates remain in the low 7% range as recent data shows weakness in the housing market.", "abstract": "Mortgage rates remain in the low 7% range as recent data shows weakness in the housing market.", "@id": "https://money.com/current-mortgage-rates/", "inLanguage": "en-US", "dateModified": "2026-10-23T12:02:08.000Z", "wordCount": 723, "about": [ { "@type": "Thing", "name": "Mortgage", "sameAs": [ "https://en.wikipedia.org/wiki/Mortgage" ] } ] } ] } ```