Mortgage Rates Today, October 7, 2026 (index as of Oct 6 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: 7.56% (-0.05 on the day) — Mortgage News Daily, as of October 6, 2026
• 15-year fixed: 7.22% (-0.01 on the day) — Mortgage News Daily, as of October 6, 2026
• FHA 30-year: 7.20% (-0.04 on the day) — Mortgage News Daily, as of October 6, 2026
• VA 30-year: 7.22% (-0.03 on the day) — Mortgage News Daily, as of October 6, 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 held flat at 7.70% in the same Mortgage News Daily index and the 7/6 ARM added 2 basis points to 6.89%. 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 5.35% this morning, up about six basis points on the day, while the 2-year sits near 4.83%. There is no 8:30 Eastern federal economic release this morning. The day’s calendar is built around the Treasury market and the Fed: the New York Fed’s consumer inflation expectations survey at 10:00 Eastern, a 10-year note auction at noon, the September FOMC minutes this afternoon, and August consumer credit later in the day. Tuesday brought the August trade report, which showed the goods and services deficit widening to $105.6 billion from a revised $92.8 billion in July, a 13.7% increase (Bureau of Economic Analysis, released October 6). 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

Tuesday was the kind of day this market has handed out sparingly. Mortgage News Daily’s recap called it a nice one for bonds, with yields easing and mortgage pricing improving to roughly a one-week best. The daily 30-year index came off five basis points to 7.56%, pulling back from the recent high it set the day before. Context matters on that: by Mortgage News Daily’s own count, rate sheets have improved only a handful of times since late August, so a five-basis-point gain is less a turn than a pause in a grind.

The first of the week’s three supply tests passed without incident. Treasury sold $58 billion in 3-year notes at a high yield of 4.932%, stopping through pre-auction pricing by three tenths of a basis point, with a bid-to-cover of 2.62 against a 2.65 average across the last twelve auctions. Indirect bidders took a smaller share than usual and direct bidders a larger one, but the headline read as in line — no clear signal for the long end in either direction. The two auctions that actually matter to mortgage pricing come next: the 10-year at noon today and the 30-year bond Thursday. The 3-year sits close to where the Fed is; the 10-year and the 30-year sit where mortgage rates are made.

The August trade figures that landed Tuesday morning were the week’s only hard data so far, and they were not a rate story. A deficit widening from $92.8 billion to $105.6 billion is a large monthly swing, but trade data reaches the bond market mainly through what it implies for the quarterly growth arithmetic, and it did not visibly disturb Tuesday’s session.

This morning the improvement is already giving way. The 10-year is back near 5.35%, up about six basis points, while the 2-year barely moved at 4.83% — the same flat-front-end, restless-long-end pattern that has defined the last several weeks. The September FOMC minutes this afternoon are the one genuinely new piece of information on the calendar, covering the meeting at which the committee raised its target range to 3.75% to 4.00%. What the market will read them for is how close the vote was and how the committee framed inflation against a softening labor market. Market reporting continues to point toward no change at the October 28 meeting, a reading that has shifted considerably week to week and is better treated as direction than as a number.

What it means if you are…

Shopping. Five basis points in your favor is worth about fourteen dollars a month on a $400,000 loan. It is real, and it is also smaller than the spread between two lenders quoting the same file on the same morning. The practical move is unchanged: collect two or three quotes inside a day or two of each other, compare rate and APR side by side, and ask each one what the rate costs in points so you are comparing the same thing.

Refinancing. FHA at 7.20% and VA at 7.22% are running 36 and 34 basis points under the conventional reading, and both improved alongside it Tuesday. If your current loan is FHA or VA, those are the figures your own refinance prices against — not the conventional number. The refinance savings check on this site works out what a given rate change does to the monthly payment and how many months it takes to recover what the new loan costs to put in place, which in Florida runs longer than national rules of thumb suggest.

Under contract. Today and Thursday carry the two events most likely to move the long end this week: the 10-year auction at noon and the 30-year auction Thursday, with the Fed minutes in between. If your lock expires inside the next 30 days, get the exact expiration date and the cost of an extension in points in writing now. Extension pricing varies widely by lender and is far easier to obtain before you need it than on the day you do.

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

At 7.56% on a 30-year fixed, principal and interest on a $400,000 loan is approximately $2,813 per month (7.56% ÷ 12 = 0.63% 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 property tax bills go out at the end of this month, and the state builds in a discount for paying early that is worth knowing about whether or not you escrow. Under Section 197.162 of the Florida Statutes, a bill paid in November earns a 4% discount, December 3%, January 2% and February 1%, with no discount in March and delinquency on April 1. On a $6,000 tax bill, the November discount is $240 — not a trivial sum for a line item that only goes one direction in this state. If your taxes are escrowed, your servicer almost always pays in November to capture the 4%, and the discount accrues to the escrow account rather than to you directly — it surfaces as a smaller shortage or a larger surplus at the next annual escrow analysis, not as a check. Two situations deserve attention this time of year. If you are closing in October or November, ask the closing agent and your lender who is paying the current bill and in which month, because a purchase that closes in this window can end up with the buyer funding an escrow account for a bill the seller already paid at a discount, or the reverse. And if you waived escrow and pay the taxes yourself, November is the month to do it — the 4% is the easiest return available on a bill you owe regardless.

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.