Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Average 30-Year Mortgage Now at 7.410% APR as the Average 30-Year Rate Reaches 7.221%
The average APR on a 30-year fixed mortgage is 7.410%, up from 7.356% a week earlier. The average 30-year rate rose 0.054 points to 7.221%, and eight of the nine averages we track rose. Four of the nine averages are above 7.00%.
Average home loan rates rose on eight of the nine products we track between October 5 and October 12. Measured by APR, which includes points and lender fees, the 30-year average is 7.410%, up from 7.356% a week earlier. The average 30-year rate rose 0.054 points to 7.221%, and 15-year fixed mortgage rates rose 0.060 points to 6.709%, the largest change of the nine. 30-year jumbo rates fell 0.009 points to 7.302%, the only decline. Four of the nine averages are above 7.00%: FHA mortgage rates at 7.006%, VA loans at 7.033%, the 30-year fixed at 7.221%, and the 30-year jumbo at 7.302%.
Key takeaways
- The average 30-year APR is 7.410%; the average 30-year rate rose 0.054 points to 7.221%, a ninth straight increase that adds about $15 a month to the payment on a $400,000 loan.
- Four of the nine averages are above 7.00%: 30-year jumbo at 7.302%, 30-year fixed at 7.221%, VA at 7.033%, and FHA at 7.006%. A week earlier, two were.
- Eight of nine averages rose; 15-year fixed rates rose 0.060 points to 6.709% and 15-year jumbo rates 0.058 points to 6.821%, the largest changes. 30-year jumbo rates fell 0.009 points.
- The 30-year average rate has risen from 6.545% on September 8 to 7.221%, adding about $181 a month on a $400,000 loan over that stretch.
- The 10-year Treasury yield was 5.22% on October 8, after 5.31% on October 5 and 5.24% on October 1; it was 5.01% on the day of the Fed's September 16 rate increase.
The average 30-year mortgage APR is 7.410%
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, and is 7.410% this week. The average 30-year rate rose 0.054 points to 7.221%, a ninth straight increase in our reports. The four previous weekly increases were 0.126, 0.138, 0.174, and 0.184 points. Since our September 8 report the average has risen 0.676 points, from 6.545% to 7.221%. 15-year fixed mortgage rates rose 0.060 points to 6.709%, a 6.911% APR. In payment terms, this week's move added about $15 a month to principal and interest on a $400,000 30-year loan, and the increases since September 8 have added about $181 a month combined.
Adjustable-rate averages rose as well. 5/1 ARM rates added 0.043 points to 6.366%, 7/1 ARM rates rose 0.017 points to 6.513%, and 3/1 ARM rates rose 0.029 points to 6.046%, the lowest average of the nine. The 3/1 ARM figure comes from the smallest ARM pool we track, 65 lenders this week. APRs on the three ARMs are 6.714%, 6.833%, and 6.867%.
Four of the nine mortgage averages are above 7.00%
Four of the nine average rates are above 7.00% this week: 30-year jumbo at 7.302%, 30-year fixed at 7.221%, VA loans at 7.033%, and FHA loans at 7.006%. A week earlier, two were: 30-year jumbo at 7.311% and 30-year fixed at 7.167%. The VA average was 7.000% and the FHA average 6.975%.
The other five averages are 15-year jumbo at 6.821%, 15-year fixed at 6.709%, 7/1 ARM at 6.513%, 5/1 ARM at 6.366%, and 3/1 ARM at 6.046%.
30-year jumbo rates fell 0.009 points while FHA and VA rates rose
30-year jumbo mortgage rates fell 0.009 points to 7.302%, a 7.385% APR, and 15-year jumbo rates rose 0.058 points to 6.821%. Jumbo averages come from the smallest lender pools we track, 45 lenders for the 30-year and 23 for the 15-year this week.
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 0.031 points to 7.006%, a 7.681% APR, and VA mortgage rates rose 0.033 points to 7.033%, a 7.347% APR. 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 Ohio mortgage rates against these national averages.
Weekly change by loan type (percentage points)
Average rates, October 5 to October 12. Red bars rose; the green bar fell.
Mortgage rates this week: October 5 vs. October 12
| Loan Product | October 5 Avg | October 12 Avg | Weekly Change |
|---|---|---|---|
| Conventional Fixed-Rate Mortgages | |||
| 30-Year Fixed ▲ | 7.167% | 7.221% | ▲ +0.054 |
| 15-Year Fixed ▲ | 6.649% | 6.709% | ▲ +0.060 |
| Conventional Adjustable-Rate Mortgages (ARM) | |||
| 3/1 Conventional ARM ▲ | 6.017% | 6.046% | ▲ +0.029 |
| 5/1 Conventional ARM ▲ | 6.323% | 6.366% | ▲ +0.043 |
| 7/1 Conventional ARM ▲ | 6.496% | 6.513% | ▲ +0.017 |
| Jumbo Fixed-Rate Mortgages (Above Conforming Limits) | |||
| 30-Year Jumbo ▼ | 7.311% | 7.302% | ▼ -0.009 |
| 15-Year Jumbo ▲ | 6.763% | 6.821% | ▲ +0.058 |
| Government-Backed Loans | |||
| FHA Loans ▲ | 6.975% | 7.006% | ▲ +0.031 |
| VA Loans ▲ | 7.000% | 7.033% | ▲ +0.033 |
| Product-specific rate pages: 30-year fixed · 5/1 ARM · FHA loans · all loan types | |||
| All rates are national averages of what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates or teaser rates. Rates are not APR. This report compares October 12 with October 5. Source: MonitorBankRates.com. | |||
The 10-year Treasury yield and the 30-year mortgage rate 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 is 7.221% in this report. Fixed mortgage rates are priced from long-term Treasury yields rather than from the Federal Reserve's benchmark. 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, and 5.22% on October 8, the latest reading in the Federal Reserve's published series for this report. The benchmark rate has been 3.75% to 4.00% for the 26 days since September 16, and the daily series on our mortgage rate trends page shows the same period.
Principal and interest on $400,000 at 7.221%
At 7.221%, principal and interest on a $400,000 30-year loan run about $2,721 a month, up roughly $15 from last week's average and about $181 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 California mortgage calculator and the Texas mortgage calculator load those states' figures. The rent vs. buy calculator sets the monthly cost of owning a home at the current average rate against the cost of renting.
What homeowners insurance adds to the monthly mortgage payment
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 Texas buyers can compare carriers in our Texas homeowners insurance guide.
Mortgage averages on October 12
The average 30-year APR is 7.410%, with the 30-year average rate at 7.221% and 15-year fixed rates at 6.709%. Four 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.
Data Coverage & Methodology
All averages in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates or teaser rates.
As of October 12, 2026, these averages were calculated from 3,105 individual rates verified across all 9 loan types; the latest collection ran October 11, 2026. The table below shows how many lenders reported rates for each loan type.
| Loan Type | Institutions | Rates Verified |
|---|---|---|
| 30-Year Fixed | 396 | 789 |
| 15-Year Fixed | 373 | 591 |
| 3/1 Conventional ARM | 65 | 97 |
| 5/1 Conventional ARM | 321 | 956 |
| 7/1 Conventional ARM | 188 | 309 |
| 30-Year Jumbo | 45 | 62 |
| 15-Year Jumbo | 23 | 26 |
| FHA Loans | 89 | 140 |
| VA Loans | 84 | 135 |
| Total | 3,105 |
This report is for general information and is not financial advice. The rate any borrower receives depends on their credit profile, location, loan size, and points paid; confirm current pricing with lenders before making decisions.
