--- title: 'Today''s Mortgage Rates: October 15, 2026' description: Mortgage rates have come off their yearly highs and seem to be settling in the low- to mid-7% range. 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: 799 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: '2026-10-15T12:37:36.000Z' modified: '2026-10-15T12:37:36.000Z' section: Mortgages word_count: 731 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 15, 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 | 7.32% | 7.36% | | 30-Year FHA | Lower Credit | 6.91% | 8.1% | | 30-Year VA | Military | 6.97% | 7.14% | | 30-Year Jumbo | High Balance | 7.53% | 7.56% | | 15-Year Fixed | Shorter Term | 6.61% | 6.68% | | 7/6 ARM | Shorter Term | 6.66% | 6.74% | | HELOC | Home Equity | 8.01% | 8.01% | | Home Equity Loan | Home Equity | 8.24% | 8.25% | Updated on 10/14/2026 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=mortgage-rates-rising-predictions-2026) Mortgage rates increased after the Bureau of Labor Statistics reported that consumer prices increased more than expected in September. The 30-year fixed-rate loan averaged 7.36%, up by 0.07 percentage points from the previous day. ## Key mortgage rate averages: - The 30-year fixed-rate mortgage averaged 7.36% APR - The 30-year fixed-rate FHA mortgage averaged 8.1% APR - The 30-year fixed-rate VA mortgage averaged 7.14% APR - The 30-year fixed-rate jumbo mortgage averaged 7.56% APR - The 15-year fixed-rate mortgage averaged 6.68% APR - The 7/6 adjustable-rate mortgage averaged 6.74% APR - The rate on a HELOC averaged 8.01% APR - The rate on a home equity loan averaged 8.25% APR ## Mortgage rate trends The Bureau of Labor Statistics released its September Consumer Price Index on Wednesday. The report showed inflation rose 3.7% over the last 12 months, slightly higher than economists anticipated. The hot inflation numbers caused yields on the 10-year Treasury note to rise, pushing the mortgage rates that follow them higher as well. This increase may not last long, however. Rates trended lower throughout the week, a trend that could resume over the next few days and settle into the low- to mid-7 % range. ## 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=mortgage-rates-rising-predictions-2026) ## 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 a 30-year mortgage rate right now? The average rate on a 30-year fixed-rate mortgage is 7.36% as of October 14, according to Money's rate data. Other rate surveys show 30-year rates averaging above 7.4%. ### Can you get a 4% mortgage rate? No, not under current market conditions. A 30-year fixed-rate loan is averaging 7.36% as of October 14. Rates are likely to stay at this level or even increase. ### Will we ever see a 3% mortgage rate again? Mortgage rates are unlikely to fall below 3% in the near term unless a severe economic downturn occurs. However, rates averaged in the mid-3% range before the pandemic, so a return to that range at some point in the future is not out of the question. ### 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. 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