Mortgage Rates Today, October 22, 2026 (index as of Oct 22 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: 7.30% (-0.10 on the day), Mortgage News Daily, as of October 22, 2026
• 15-year fixed: 6.96% (-0.08 on the day), Mortgage News Daily, as of October 22, 2026
• 30-year FHA: 6.92% (-0.13 on the day), Mortgage News Daily, as of October 22, 2026
• 30-year VA: 6.94% (-0.12 on the day), Mortgage News Daily, as of October 22, 2026

Freddie Mac weekly survey: 7.32%, survey dated Oct 22. 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 7.60%, down 0.05 on the day, while the 7/6 SOFR adjustable rate print moved the other way, coming in at 7.78% and sitting at the top of its 52 week range. 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 4.96% as of this writing, down about 17 basis points on the day, with the 2-year near 4.66%, down about 16. On the data side, the Labor Department reported this morning that initial jobless claims fell to 194,000 for the week ending October 17, against a prior week revised up to 200,000 and a consensus near 200,000, with the four week moving average at 197,750. The S&P Global flash purchasing managers indexes for October arrive tomorrow at 9:45 AM Eastern.

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

What moved rates

Today’s close was the second straight move lower, and it came from the stock market rather than from the economic calendar. Per Mortgage News Daily, interest rates “continue taking cues from the market rethinking the pace of AI-related growth/spending,” and the firm summarized the session in one line: “tech is tanking and bonds are picking up the slack.” Disappointing earnings and forward guidance from several large technology companies drove heavy selling in that part of the stock market, and investors moved the proceeds into Treasuries and mortgage-backed bonds. More buyers for those bonds means higher bond prices, and higher bond prices mean lower yields, which is what pulls the mortgage index down.

Mortgage News Daily tied the sharpest part of the morning move to the same credit story that has been running for two weeks, noting that “Coreweave bond drama is directly linked to this morning’s sharpest movement toward lower yields.” When the borrowing costs of companies financing data centers rise, it reads as doubt about whether that spending will be earned back, and money rotates toward the safest bonds available. Mortgage rates are along for that ride whether or not anything changed in housing.

The one thing worth noticing is that the morning’s economic data pointed the other way. Claims at 194,000 are a firm labor market reading, and a firm labor market usually argues for higher yields, not lower ones. Bonds rallied anyway, which tells you how much of today’s pricing came from the equity side of the market. That also means the move is only as durable as the story behind it, and tomorrow morning’s purchasing managers indexes are the next scheduled test. Today’s close is the figure that stands for today, not a live quote and not a forecast.

What it means if you are…

Shopping. Today’s close is roughly a tenth of a point better than yesterday’s on the 30-year index, and about a tenth of a point off the bottom of the last month. On a $400,000 loan a tenth of a point is real money over time, but it is not the kind of move that changes which house you can buy. The practical use of a day like this one is information: a quote run on your actual credit profile, down payment and property type will tell you something the national index cannot, and that number is what your offer should be built on.

Refinancing. The government programs moved further today than conventional did. FHA 30-year came in at 6.92%, down 0.13, and VA 30-year at 6.94%, down 0.12, both below the conventional reading. If you closed an FHA or VA loan in the stretch when rates were materially higher, this is the week to run the arithmetic rather than assume nothing has changed, and FHA and VA both have streamlined refinance paths that are lighter on documentation than a full application. The refinance savings check on this site will show you the monthly difference and how long it takes to recover the closing costs, which in Florida includes the state taxes described below.

Under contract. Two good days in a row is pleasant and it is also not a plan. If your rate is already locked, nothing today changes your file. If it is not, it is worth asking your lender where your lock stands and what a float down would cost on your program, because that conversation is easier before an appraisal comes back than after. A rate that is better than the one your payment was calculated from is a cushion, not a reason to change the closing date.

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

At 7.30%, the monthly rate is 7.30% divided by 12, or 0.608333%. Over a 360 month term, principal and interest on a $400,000 loan comes to about $2,742 a month. These figures exclude property taxes, homeowners insurance, flood insurance, mortgage insurance and any association dues; the actual monthly obligation will be greater.

Florida note

There are two lines on a Florida closing disclosure that catch borrowers off guard every week, and the reason they catch people is that nobody can do anything about them. They are state taxes on the loan itself, not lender fees, and they do not appear in states most buyers moved here from. The first is documentary stamp tax on the promissory note, set by Section 201.08 of the Florida Statutes at 35 cents per $100 of the indebtedness, or any part of $100. The second is the nonrecurring intangible tax on the mortgage, set by Section 199.133 at 2 mills per dollar financed, which is $2 per $1,000. On a $400,000 loan that is $1,400 in note stamps and $800 in intangible tax, $2,200 before a single lender or title charge is added. There is also a documentary stamp on the deed, which in most Florida counties is customarily the seller’s line in the contract rather than the buyer’s, and Miami-Dade handles the deed stamp under its own rate structure. Three practical points follow. First, these amounts scale with the loan, not the purchase price, so a larger down payment reduces them while a seller credit toward closing costs does not make them disappear, it only changes who writes the check. Second, because they are government taxes they sit in the taxes and government fees section of your Closing Disclosure, not in the shoppable services section, so there is no version of shopping lenders that gets you a better number on these two lines, and a lender quoting you a lower total that leaves them out has not found you a deal. Third, and this is the one that matters for anyone reading the refinance section above, you pay both again on the new loan amount when you refinance in Florida. That is roughly $2,200 of cost floor on a $400,000 refinance before anything else, which is exactly why the break even calculation matters more here than it does in a state without these taxes. Ask for a written estimate that shows both lines separately, confirm the loan amount they were calculated from, and run your break even on the total rather than on the rate alone.

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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