Mortgage Rates Today, October 14, 2026 (index as of Oct 13 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: 7.46% (-0.02 on the day), Mortgage News Daily, as of October 13, 2026
• 15-year fixed: 7.14% (-0.01 on the day), Mortgage News Daily, as of October 13, 2026
• 30-year FHA: 7.13% (-0.02 on the day), Mortgage News Daily, as of October 13, 2026
• 30-year VA: 7.15% (-0.02 on the day), Mortgage News Daily, as of October 13, 2026

Freddie Mac weekly survey: 7.40%, survey dated Oct 8. A weekly national survey of purchase applications, so it lags the daily index above.

Also today: the jumbo reading on the same Mortgage News Daily index came in at 7.62%, down 0.01 on the day, and the 7/6 SOFR adjustable rate came in at 6.88%, down 0.02. The Federal Reserve’s target range for the federal funds rate is 3.75% to 4.00% following the quarter point increase on September 16, and the next scheduled meeting is October 28. The 10-year Treasury yield is near 5.33% this morning, up about 10 basis points, with the 2-year near 4.95%. This morning’s 8:30 Eastern release was the September Consumer Price Index. All items rose 0.6% on the month, matching what forecasters had described as the consensus and up from 0.4% in August, and 3.7% over the year against a consensus nearer 3.6% and an August reading of 3.4%. The core index, which strips out food and energy, rose 0.3% on the month where a 0.2% reading had been expected, and 2.6% over the year against expectations clustered around 2.4% to 2.5% and an August reading of 2.4% (Bureau of Labor Statistics, released October 14). The companion Real Earnings release showed real average hourly earnings down 0.5% on the month and down 0.7% over the year. September producer prices and September retail sales both land at 8:30 Eastern tomorrow.

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

What moved rates

The figures above are Tuesday’s close, not this morning’s. Tuesday was a quiet session that went the right way for borrowers. Per Mortgage News Daily, the overnight bond market improvement was easiest to attribute to continued supportive buying in response to recently higher yields in the long end of the market, which is a way of saying investors found the yields available after the recent selloff worth owning rather than reacting to any single headline. Mortgage News Daily also noted that intraday volatility was light enough that lenders set rates once in the morning and left them alone for the rest of the day.

Two basis points is a small move, and the direction matters more than the size. The daily 30-year index has now shaved a little off its reading on each of the last several sessions and sits at its best level in about two weeks, which is a change of tone from late September and early October, when the reading kept pressing toward the top of its range. It is worth keeping the scale in view: the index is still well above where it sat over the summer.

Tuesday afternoon brought comments from New York Fed President John Williams, who described room for one more rate increase and no increases in 2027. Mortgage News Daily attributed a lift in the short end of the yield curve to those remarks. The federal funds rate and mortgage rates are different instruments with different drivers, so the short end moving on Fed commentary does not automatically carry the 30-year mortgage index with it.

What the figures above cannot show is this morning. The September inflation report described in the numbers section landed after Tuesday’s close, and the 10-year Treasury yield is roughly 10 basis points higher as of this writing. Tomorrow’s post will carry the daily index reading for today’s session, which is when that reaction shows up in the mortgage numbers.

What it means if you are…

Shopping. The index reading used here is Tuesday’s, and bond yields have moved since. That gap is the practical reason a quote from last week is not a quote today. If you are preparing to write an offer, get a fresh quote on your own scenario and your own file first, and keep your pre-approval current so that the number you are working from reflects this week rather than last month.

Refinancing. The government programs are pricing under conventional on this reading: FHA 30-year at 7.13% and VA 30-year at 7.15%, against 7.46% on the 30-year conventional index. If your existing loan is FHA or VA, the streamline paths are worth understanding before you compare quotes, because they turn on your existing loan rather than on a full re-underwrite. The refinance savings check on this site will run your current payment against a current index reading so you can see whether the gap is wide enough to be worth the closing costs. On a Florida refinance, read the Florida note below before you price it, because two state taxes get charged again on a new note and they are not small.

Under contract. A two basis point improvement will not change your payment in any way you would notice, but the direction of the last several sessions is mildly in your favor, and this morning’s inflation report pushed the other way. If you have a lock in place, it is worth asking your lender where your lock stands and when it expires relative to your closing date. If you are not locked, ask what the trade-offs look like on your file specifically.

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

At the 30-year conventional index reading of 7.46%, principal and interest on a $400,000 loan over 360 months works out to about $2,786 a month.

The arithmetic: 7.46% divided by 12 gives a monthly rate of 0.0062167. Compounded over 360 payments, 1.0062167 raised to the 360th power is 9.30984. The payment is $400,000 multiplied by 0.0062167, multiplied by 9.30984, then divided by 8.30984, which comes to $2,785.91.

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 separate state taxes on the act of borrowing money against real property, and because they are collected at the closing table rather than billed later, plenty of borrowers meet them for the first time on the closing disclosure. The first is documentary stamp tax on the promissory note. Under Section 201.08 of the Florida Statutes, the rate is 35 cents on each $100, or fraction of $100, of the indebtedness the note evidences. On a $400,000 loan that is $1,400. The second is the nonrecurring intangible tax on the mortgage that secures the note. Section 199.133 imposes a one time tax of 2 mills on each dollar of the obligation, which works out to $2 per $1,000, or $800 on the same $400,000 loan. Together that is $2,200 in state taxes on a single $400,000 mortgage, and it is charged on the loan amount rather than on the purchase price, so a larger down payment reduces it and financing closing costs into the loan increases it. Here is the part that catches Florida homeowners on a refinance: both taxes are owed again on the new note, because the tax attaches to the obligation rather than to the property. Section 201.09 does provide an exemption for a renewal that only extends or continues the identical contractual obligations of the original note, but the conditions are narrow. The original note has to be attached to the renewal with the notation required by Section 201.133, the renewal cannot enlarge the original contract in any way, it cannot be executed by anyone other than the original obligor, and it must renew only the unpaid balance. Where the balance goes up, tax is due on the increase. In practice most refinances, and certainly any refinance that moves the loan to a different lender or adds a borrower to the note, do not meet that test, so the right move is to assume the full $2,200 on a $400,000 refinance and ask your closing agent to show you both lines in writing before you decide the savings are worth it.

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.

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