Mortgage Rates Today, September 17, 2026 (index as of Sep 16 close)

Today’s index numbers

All four readings below come from the Mortgage News Daily rate index on the same day, so they can be compared with each other.

• 30-year fixed: 7.24% (+0.02 on the day) — Mortgage News Daily, as of September 16, 2026
• 15-year fixed: 6.84% (+0.02 on the day) — Mortgage News Daily, as of September 16, 2026
• FHA 30-year: 6.82% (+0.02 on the day) — Mortgage News Daily, as of September 16, 2026
• VA 30-year: 6.84% (+0.02 on the day) — Mortgage News Daily, as of September 16, 2026

Freddie Mac weekly survey: 6.95%, week of 09/17. A weekly national survey of purchase applications, so it lags the daily index above.

Also today: the jumbo 30-year read 7.40% and the 7/6 ARM 6.69% in the same Mortgage News Daily index. The federal funds target range is 3.75% to 4.00%, raised a quarter point on September 16 (Federal Reserve). Weekly jobless claims came in at 196,000 for the week ending September 12, down 10,000, with the four-week average at 203,250 (Department of Labor, released this morning). The 10-year Treasury is near 4.98%, down roughly four basis points from Tuesday’s close. The Optimal Blue daily rate-lock index is shown live in the widget on the home page.

These are national survey and index averages, not an offer.

What moved rates

The Federal Reserve raised its target range for the federal funds rate by a quarter point yesterday, to 3.75% to 4.00%. It is the first increase since 2023, and the vote was unanimous at 12 to 0. The statement said economic activity is expanding at a solid pace and that “Inflation remains elevated,” adding that the increase “will support a timelier return to the Committee’s 2 percent goal.”

The projections released with the decision matter more for what comes next. The median participant now expects the federal funds rate to finish 2026 at 4.1%, which implies one more quarter-point move before year-end, and 16 of 18 participants expect at least one additional increase this year. For 2027 the Committee is genuinely split: eight officials project another increase, six see rates holding, and four see cuts.

Here is the part worth understanding. The Fed does not set mortgage rates. It sets an overnight rate between banks, and mortgage rates follow the market for longer-term bonds, which had already priced in most of this move over the preceding two weeks. That is why Treasury yields actually fell after the announcement while the daily 30-year index closed up only 2 basis points at 7.24%, its eighth consecutive increase but by far the smallest. Mortgage News Daily put it directly in a headline last night: the Fed did not hike mortgage rates yesterday. It also described huge volatility after the announcement and cautioned that the coming days will tell the story. This morning’s jobless claims added to the picture, falling to 196,000, a labor market still showing no cracks.

What it means if you are…

Buying. The daily index at 7.24% is barely changed from Wednesday morning, which means yesterday’s news did not reprice your purchasing power the way the headline suggests. What did change is the signal about the next few months, and that argues for treating any quote you receive as a snapshot rather than a standing offer. Ask for the rate, the APR and the lock period together, since a 30-day lock and a 60-day lock on the same loan are not the same price.

Refinancing. If you carry a home equity line of credit, yesterday’s move affects you directly and quickly. Those lines are typically tied to the prime rate, which moves with the Fed’s target, and the change usually shows up within a billing cycle or two rather than over months. Pulling your last statement and finding the index and margin tells you where your payment is heading. The same logic applies to anyone with a HELOC drawn for a home project: the cost of carrying that balance just went up.

Under contract. The event risk that had been building for two weeks is behind you, and the market’s reaction was smaller than the buildup. What remains is the projection that most participants expect another increase before year-end, which the bond market will reprice gradually rather than on one afternoon. If your closing is inside 30 days, the practical question is simply whether your lock covers it. If it does not, ask today what an extension costs rather than discovering the answer in the final week.

What a $400,000 loan looks like at today’s average

At 7.24% on a 30-year fixed, principal and interest on a $400,000 loan is approximately $2,726 per month (7.24% ÷ 12 = 0.603% monthly rate, over 360 payments). These figures exclude property taxes, homeowners insurance, flood insurance, mortgage insurance and any association dues; the actual monthly obligation will be greater.

Florida note

Yesterday’s increase lands on a Florida-specific situation: homeowners who opened a home equity line to pay for a roof replacement demanded by their insurance carrier. Roof age and condition drive both premiums and whether a policy is offered at all in much of this state, and replacing one is often a five-figure project that cannot wait for rates to cooperate. A line of credit tied to prime reprices with the Fed’s target, so those balances cost more to carry starting with the next statement. If that describes you, the two numbers worth knowing are the current balance and whether your line has a conversion feature that lets you lock part of the balance at a fixed rate; many do, and it is the kind of option people forget they signed up for.

Rates shown could change or may not be available at commitment or closing. For a quote on your own scenario, use the rate-quote form on this page.

Daily Mortgage Rates is published by PMF, Inc. d/b/a Pioneer Mortgage Funding, NMLS #1980 · Branch NMLS #2681379 · Mortgage Loan Originator: Brendin Straubel, NMLS #1757609 · 401 E Jackson St, Suite 2340, Tampa, FL 33602 · 813-728-7764 · bstraubel@pmfmortgage.com. Verify licensing at nmlsconsumeraccess.org. Not a commitment to lend. All loans subject to credit approval.