Mortgage rates today show the 30-year fixed at 7.32% and the 15-year at 6.68% as of October 27, 2026, according to the latest FRED data.
As of Tuesday, October 27, 2026, the national average for a 30-year fixed mortgage stands at 7.32 percent, while the 15-year fixed sits at 6.68 percent, according to the most recent FRED release dated October 22. The 10-year Treasury yield is 5.00 percent, producing a 232-basis-point spread between the benchmark note and the 30-year mortgage. These figures mark a modest easing from the 7.33 percent 30-year rate reported on October 15 by Mortgage News Daily, which had already represented a three-week low.
Between October 15 and October 22, the 30-year fixed declined 0.01 percentage points, while the 15-year fixed slipped 0.02 points. The 10-year Treasury remained anchored near 5 percent, indicating that the mortgage spread is holding steady rather than compressing further. Market participants attribute the stability to mixed economic data that neither accelerated nor derailed expectations for Federal Reserve policy through year-end.
Over the past three weeks, the 30-year fixed has traded in a tight 7.32–7.45 percent corridor. The October 15 print of 7.33 percent was the low-water mark, while earlier October readings briefly touched 7.45 percent. The current 7.32 percent level is 38 basis points below the September peak but remains 114 basis points above the January 2026 trough.
| Mortgage Product | Rate (Oct 22, 2026) | Change vs Oct 15 | 10-Yr Treasury | Spread |
|---|---|---|---|---|
| 30-Year Fixed | 7.32% | –0.01 | 5.00% | 2.32% |
| 15-Year Fixed | 6.68% | –0.02 | 5.00% | 1.68% |
| FHA 30-Year Fixed | 7.37% | +0.04 | 5.00% | 2.37% |
Rate sheets pulled from lenders active in California, Texas, and Florida show deviations of up to 12 basis points from the national average. In Los Angeles County, the average 30-year fixed quote is 7.40 percent, while Dallas-Fort Worth lenders are posting 7.26 percent. Miami-Dade quotes average 7.35 percent. These spreads reflect differences in average credit scores, property tax burdens, and local foreclosure timelines rather than divergent funding costs.
The 10-year Treasury yield remains the dominant driver. With the note holding at 5.00 percent, any sustained move above 5.10 percent would likely push the 30-year fixed back toward 7.45 percent. Conversely, a break below 4.90 percent could open the door to sub-7.25 percent pricing. Secondary factors include the ongoing decline in mortgage application volume—down 9 percent week-over-week per the Mortgage Bankers Association—and the continued runoff of MBS holdings on Federal Reserve and bank balance sheets.
At 7.32 percent, a $400,000 loan carries a principal-and-interest payment of $2,746 per month. That payment is $38 lower than the same loan priced at 7.45 percent three weeks ago. Borrowers locking today should compare the 0.125-point cost of a float-down option against the probability of further declines; current option-adjusted spreads suggest a 35 percent chance that rates fall another 10 basis points before Thanksgiving.
Readers who want to model different down-payment, credit-score, or term scenarios can run live scenarios at HomeRates.ai to see how small rate changes translate into monthly savings.
Mortgage rates today remain anchored near 7.32 percent for the 30-year fixed. Absent a decisive move in the 10-year Treasury, the range-bound environment is likely to persist through early November, giving well-qualified buyers a stable window to lock without fear of an immediate spike.
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