October 6, 2026

Mortgage Rates Today, October 6, 2026 (index as of Oct 5 close)

Daily index figures are Mortgage News Daily as of the October 5, 2026 close. The index posts each afternoon, so a morning update carries the prior business day.

By Brendin Straubel, NMLS #1757609 · All daily updates

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: 7.61% (+0.04 on the day) — Mortgage News Daily, as of October 5, 2026
15-year fixed: 7.23% (+0.04 on the day) — Mortgage News Daily, as of October 5, 2026
FHA 30-year: 7.24% (+0.04 on the day) — Mortgage News Daily, as of October 5, 2026
VA 30-year: 7.25% (+0.04 on the day) — Mortgage News Daily, as of October 5, 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. The next survey publishes Thursday at noon Eastern.

Also today: the jumbo 30-year rose 4 basis points to 7.70% in the same Mortgage News Daily index and the 7/6 ARM added 2 basis points to 6.87%. 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 5.28% this morning after closing Monday around 5.26%, roughly four basis points lower on the day, while the 2-year sits near 4.80%. Monday’s September ISM Services index came in at 54.9%, down from 55.4% in August, with business activity falling more than five points but the prices index rising to 74.0%, its highest reading since July 2022 (Institute for Supply Management). No major federal economic release is scheduled this morning; the Bureau of Economic Analysis has nothing on today’s calendar. Treasury begins a three-day run of coupon auctions today with the 3-year note, followed by the 10-year Wednesday and the 30-year Thursday, and the September FOMC minutes are released Wednesday afternoon. Dallas Fed President Lorie Logan speaks this evening. 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

Monday had no headline worth the move it produced. Mortgage News Daily’s afternoon piece asked what it would take for bonds to recover and described the day as another round of selling without a satisfying explanation. Rate sheets came out four basis points worse across the board, and the daily 30-year index finished at 7.61% — one basis point above last week’s peak and a fresh recent high.

The one data point that did land cuts in an uncomfortable direction. The September ISM services survey softened on the growth side, with business activity dropping from 61.7% to 56.5%, but its prices index climbed to 74.0% — the highest reading in more than four years. The survey’s chair noted prices have run above 70% in six of the last seven months, with fuel costs mentioned twice as often as any other issue. Slower activity and faster price increases together is the combination the bond market handles worst: it hands the long end an inflation problem without giving the Fed a clean reason to ease.

That helps explain a curve that keeps behaving strangely. The 2-year has been close to still, and the 10-year actually fell about four basis points Monday to around 5.26%. Mortgage pricing still got worse. When short rates hold and long rates refuse to follow through, the market is telling you its concern is not the next Fed meeting but inflation and supply further out — and mortgage rates key off that part of the curve.

Supply is the week’s live question. Treasury sells 3-year notes today, 10-year notes Wednesday and 30-year bonds Thursday. The 3-year usually passes without drama; the two longer auctions can set the tone, and they land in a market that has already shown it will sell without a reason. The September FOMC minutes Wednesday afternoon fill in how divided the committee was at the meeting where it raised. Market pricing continues to lean toward no change at the October 28 meeting while keeping meaningful odds of another increase by December, according to market reporting — a reading that has moved a great deal week to week and is worth treating as direction rather than a forecast.

What it means if you are…

Shopping. Four basis points is not a market event. On a $400,000 loan it is roughly nine dollars a month, smaller than the gap between two lenders quoting the same borrower on the same morning. That gap is the one worth your attention. Gather two or three quotes inside the same day or two, look at rate and APR together, and ask each one what the quote costs in points.

Refinancing. FHA at 7.24% and VA at 7.25% are both running about 36 basis points under the conventional reading, and all three moved the same four basis points Monday, so the spread has not changed. If you hold an FHA or VA loan, those are the numbers your own refinance prices against rather than the conventional figure. The refinance savings check on this site shows what a given rate change does to the monthly payment and how long it takes to recover what the new loan costs to put in place — which in Florida takes longer than the national rules of thumb suggest, for the reason below.

Under contract. This is a week where the calendar, not the news flow, decides things: Wednesday and Thursday carry the two Treasury auctions and the Fed minutes, and that is where any real movement in the long end is most likely to come from. If your lock runs out within 30 days, confirm the exact expiration date and what an extension costs in points. The answer differs sharply by lender and is easier to get before you need it.

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

At 7.61% on a 30-year fixed, principal and interest on a $400,000 loan is approximately $2,827 per month (7.61% ÷ 12 = 0.634% 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

Florida charges two state taxes on the loan itself that catch people by surprise at the closing table, and they matter most when you are weighing a refinance. Under Chapter 201 of the Florida Statutes, documentary stamp tax on a promissory note runs $0.35 per $100 of the amount financed, and a separate nonrecurring intangible tax runs $0.002 per dollar — two tenths of one percent — on the mortgage securing it. On a $400,000 loan that is $1,400 in doc stamps plus $800 in intangible tax, or $2,200 before a single other fee. A purchase also pays documentary stamp tax on the deed at $0.70 per $100 of the price in most counties, with Miami-Dade on a different structure. Two things follow. A Florida refinance pays doc stamps and intangible tax again on the new note, which is why break-even math borrowed from a national article tends to run optimistic by several months here. And when you refinance an existing mortgage with the same lender, Florida law allows the intangible tax to apply only to new money above the unpaid balance being replaced, so a no-cash-out refinance handled that way can avoid a meaningful share of it. Ask your closing agent to walk through both line items before you commit; they are fixed costs that do not shrink when rates improve.

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.