Mortgage Rates Today, October 1, 2026 (index as of Sep 30 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: 7.60% (+0.02 on the day) — Mortgage News Daily, as of September 30, 2026
- 15-year fixed: 7.22% (+0.02 on the day) — Mortgage News Daily, as of September 30, 2026
- FHA 30-year: 7.25% (+0.01 on the day) — Mortgage News Daily, as of September 30, 2026
- VA 30-year: 7.25% (unchanged on the day) — Mortgage News Daily, as of September 30, 2026
Freddie Mac weekly survey: 7.28%, week of 10/01. A weekly national survey of purchase applications, so it lags the daily index above.
Also today: the jumbo 30-year read 7.66% in the same Mortgage News Daily index and the 7/6 ARM eased 2 basis points to 6.85%. The federal funds target range is 3.75% to 4.00%, raised a quarter point on September 16 (Federal Reserve). The 10-year Treasury is near 5.30% after touching 5.33% this morning, its highest level since early 2002; it has risen about half a percentage point over the past month. Weekly jobless claims: 197,000 for the week ending September 26, down 1,000 from the prior week, with the four-week average at 200,000 (Department of Labor, released this morning). ISM manufacturing and construction spending are due at 10:00 a.m. Eastern, after this page publishes. 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
Wednesday was quiet on the surface and noisy underneath. The daily 30-year index added only 2 basis points to 7.60%, with FHA up 1 and VA flat, which is the smallest move in a week. Some of that calm is mechanical: the last day of a month and a quarter brings its own trading patterns that have little to do with the economy.
The Treasury market is where the story is. The 10-year touched 5.33% this morning, a level it had not reached since early 2002, and it has climbed roughly half a percentage point in a month. The forces behind that have not changed all week: elevated oil prices tied to Middle East conflict, an economy that keeps proving resilient, and concern about how much government debt the market has to absorb.
The one thing that did shift is the near-term Fed outlook. After Wednesday’s cooler PCE reading, market-implied odds of an increase at the October meeting fell to roughly 38%, down from about 51% beforehand, according to one market wrap, though pricing still points to another increase by December. Readings on that probability have moved around a good deal this week, so treat the direction as the signal rather than the exact number. This morning’s jobless claims gave no reason to change the picture: 197,000 for the week ending September 26, down 1,000, with the four-week average at 200,000, which is a labor market still holding firm. Friday’s September jobs report, with consensus near 84,000 payrolls, is the last major input before October.
What it means if you are…
Buying. The daily index has moved only 2 basis points, but the bond market that drives it is setting multi-decade highs, and that gap tends to close rather than persist. Practically, it means a quote has a shorter shelf life right now than it did in early September. Collect offers from more than one lender inside the same day or two, compare rate and APR together, and ask each one how long the quote stands before it has to be refreshed.
Refinancing. FHA and VA both read 7.25%, about 35 basis points under conventional. If you hold either, those are the numbers your own refinance prices against. The refinance savings check on this site shows what a given rate change does to the payment and how many months it takes to recover what the loan costs to set up.
Under contract. The jobs report tomorrow is the last scheduled item with real power to move pricing before the October Fed meeting comes into focus. If your lock runs out within 30 days, today is the better day to confirm the expiration date and the cost of an extension. If you are locked through closing, tomorrow is a spectator event.
What a $400,000 loan looks like at today’s average
At 7.60% on a 30-year fixed, principal and interest on a $400,000 loan is approximately $2,824 per month (7.60% ÷ 12 = 0.633% 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
Escrow waivers deserve more thought in Florida than in most states. A waiver means you pay property taxes and insurance yourself rather than having the lender collect one twelfth each month, and lenders typically allow it only under certain loan-to-value thresholds, often with a small pricing adjustment, and not at all on some government programs. The Florida wrinkle is scale. Between property taxes and homeowners insurance, and flood insurance where it applies, the escrowed portion of a Florida payment is often large relative to principal and interest, which makes a waiver a bigger decision here than in a lower-cost state. Waiving means holding that money yourself and paying the county in November and the carrier at renewal, which can be an advantage if you want the November property tax discount under your own control, and a problem if the money is not there when the bill arrives. There is no universally right answer; the point is that in Florida this is a real decision rather than a formality, and it is worth asking what the pricing difference is before deciding.
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.