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Brian McKay

Co-Founder & Lead Data Architect

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Brian is the Co-Founder of MonitorBankRates.com. For over 18 years, he has utilized his background in enterprise infrastructure to engineer proprietary systems that track rates from over 8,000 financial institutions.

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| October 19, 2026 | 6 min read

Average 30-Year Mortgage Rate Falls to 7.186% After Nine Straight Increases

The average APR on a 30-year fixed mortgage is 7.376%, down from 7.410% a week earlier. The average 30-year rate fell 0.035 points to 7.186%, the first decline after nine straight increases, and five of the nine averages we track fell. Three of the nine averages are above 7.00%.

Average home loan rates fell on five of the nine products we track between October 12 and October 19. Measured by APR, which includes points and lender fees, the 30-year average is 7.376%, down from 7.410% a week earlier. The average 30-year mortgage rate fell 0.035 points to 7.186%, the first decline after nine straight increases in our reports, and 30-year jumbo rates fell 0.088 points to 7.214%, the largest change of the nine. 15-year fixed mortgage rates fell 0.013 points to 6.696%. Three of the nine averages are above 7.00%, down from four a week earlier.

The average 30-year mortgage rate fell 0.035 points to 7.186%

Conventional mortgage rates, national average APR since April 13

Average APRs from MonitorBankRates.com's nightly collection, updated daily. The figures in the text and table below are average rates, which run below APR.

The average 30-year APR was 7.175% on September 28, 7.356% on October 5, 7.410% on October 12, and is 7.376% this week. The average 30-year rate fell 0.035 points to 7.186%. The five weekly increases before it were 0.126, 0.138, 0.174, 0.184, and 0.054 points, and since our September 8 report the average has risen 0.641 points, from 6.545% to 7.186%. 15-year fixed mortgage rates fell 0.013 points to 6.696%, a 6.898% APR. In payment terms, this week's decline lowers principal and interest by about $9 a month on a $400,000 30-year loan, and the increases since September 8 still add about $171 a month combined.

Among adjustable-rate mortgages, 3/1 ARM rates rose 0.019 points to 6.065%, the lowest average of the nine, from the smallest ARM pool we track, 60 lenders this week. 5/1 ARM rates fell 0.006 points to 6.360%, and 7/1 ARM rates held steady at 6.508%. APRs on the three ARMs are 6.784%, 6.842%, and 6.888%.

30-year jumbo rates fell 0.088 points; 15-year jumbo and FHA rates rose

30-year jumbo mortgage rates fell 0.088 points to 7.214%, a 7.298% APR, and 15-year jumbo rates rose 0.012 points to 6.833%, a 6.932% APR. Jumbo averages come from the smallest lender pools we track, and both pools grew this week: 57 lenders reported 30-year jumbo rates, up from 45, and 31 reported 15-year jumbo rates, up from 23. With pools that change by that much, an average can move when lenders enter or leave the pool.

Jumbo and FHA rates, national average APR since April 13

Average APRs from the nightly collection. VA loans are omitted from this chart pending a data-quality fix in the nightly series; the VA table figures below are verified.

FHA mortgage rates rose 0.017 points to 7.023%, a 7.732% APR, and VA mortgage rates fell 0.060 points to 6.973%, a 7.296% APR. Three of the nine averages are now above 7.00%: 30-year jumbo at 7.214%, 30-year fixed at 7.186%, and FHA at 7.023%. A week earlier, four were; the VA average was 7.033%. The rate an individual borrower gets depends on the lender and the loan file as well as the program. Buyers comparing local offers can line up Florida mortgage rates against these national averages, and borrowers looking for a lender can search our mortgage lenders and brokers directory by location, including mortgage lenders in Tampa, Florida.

Weekly change by loan type (percentage points)

Average rates, October 12 to October 19. Red bars rose; green bars fell.

Mortgage rates this week: October 12 vs. October 19

The 10-year Treasury yield was 5.10% on October 15

The 10-year Treasury yield was 5.01% on the day of the Fed's September 16 rate increase, 5.29% on September 30, 5.31% on October 5, 5.24% on October 9, 5.21% on October 13, 5.19% on October 14, and 5.10% on October 15, the latest reading in the Federal Reserve's published series for this report. Fixed mortgage rates are priced from long-term Treasury yields rather than from the Federal Reserve's benchmark rate, which has been 3.75% to 4.00% for the 33 days since September 16. The 30-year average rate was 6.671% on September 14, 6.809% on September 21, 6.983% on September 28, 7.167% on October 5, and 7.221% on October 12, and is 7.186% in this report. The daily series on our mortgage rate trends page shows the same period.

A $400,000 loan at 7.186% runs about $2,711 a month in principal and interest

At 7.186%, principal and interest on a $400,000 30-year loan run about $2,711 a month, down roughly $9 from last week's average and up about $171 from the September 8 average. Our mortgage calculator works from this same live data: its example recalculates from the current MonitorBankRates average every time the page loads, drawing on rates published by more than 8,000 banks and credit unions. State versions of the calculator come prefilled with that state's average rate, median home value, property taxes, and homeowners insurance; the Florida mortgage calculator loads that state's figures. The mortgage affordability calculator estimates the home price a given income and monthly budget can carry at the current average rate.

Lenders require homeowners insurance at closing

Lenders require proof of homeowners insurance at closing, and the insurance premium is part of the monthly payment alongside principal, interest, and property taxes. Our MBR Home Insurance Burden Index ranks all 50 states by how heavily insurance weighs on homeowners, and Florida buyers can compare carriers in our Florida homeowners insurance guide.

The nine mortgage averages on October 19

The average 30-year APR is 7.376%, with the 30-year average rate at 7.186% and 15-year fixed rates at 6.696%. Three of the nine average rates are above 7.00%. The rate any borrower is quoted depends on the lender, the loan file, and the property.