Mortgage rate report — week of 2026-09-28
Published 2026-09-28
Ralo's illustrative 30-year fixed rate is 6.875% (6.909% APR), up 0.75 percentage points over 30 days and 0.155 percentage points below the Freddie Mac PMMS average of 7.03%. Ralo's illustrative 20-year fixed rate is 7.125% (7.17% APR), up 1.135 percentage points over 30 days, while the 15-year fixed is 6.375% (6.428% APR), up 0.75 percentage points.
On a 30-year fixed with 20% down, Ralo's illustrative ranges run from 6.875% – 7.125% (6.92% – 7.171% APR) at a 780 credit score to 6.875% – 7.5% (6.948% – 7.553% APR) at a 660 credit score. At a 740 credit score with 20% down, state ranges include 6.875% – 7.125% (6.948% – 7.241% APR) in TX versus 7.125% – 7.25% (7.165% – 7.297% APR) in CA.
On the ARM desk, the 30-day average SOFR is 3.698%. Ralo's illustrative 5/6 ARM is 6.75% (6.616% APR), priced on 2026-09-28, with a margin of 2.75% and caps of 2/1/5.
Ralo vs the market: Ralo’s illustrative 30-year fixed rate is 6.875% (6.909% APR), priced 2026-09-27, against a Freddie Mac PMMS 30-year national average of 7.03% (as of 2026-09-24).
| Term | Illustrative rate | APR | 30-day change |
|---|---|---|---|
| 30-year fixed | 6.875% | 6.909% | +0.750 pts |
| 20-year fixed | 7.125% | 7.17% | +1.135 pts |
| 15-year fixed | 6.375% | 6.428% | +0.750 pts |
Illustrative 30-year ranges by credit band (2026-09-25):
| Credit score | Down payment | Rate range | APR range |
|---|---|---|---|
| 780 | 20% down | 6.875% – 7.125% | 6.92% – 7.171% |
| 780 | 5% down | 6.875% – 7% | 7.192% – 7.368% |
| 740 | 20% down | 6.875% – 7.25% | 6.948% – 7.301% |
| 740 | 5% down | 6.99% – 7.125% | 7.399% – 7.54% |
| 700 | 20% down | 6.875% – 7.375% | 6.948% – 7.493% |
| 700 | 5% down | 7.125% – 7.375% | 7.596% – 7.863% |
| 660 | 20% down | 6.875% – 7.5% | 6.948% – 7.553% |
| 660 | 5% down | 7.25% – 7.49% | 7.914% – 8.155% |
Local ranges (30-year fixed, 740 score, 20% down; 2026-09-25):
| State | Rate range | APR range |
|---|---|---|
| CA | 7.125% – 7.25% | 7.165% – 7.297% |
| CO | 6.99% – 7.25% | 7.04% – 7.301% |
| TX | 6.875% – 7.125% | 6.948% – 7.241% |
Full county-level history: the City Rate Index.
ARM desk: the 30-day average SOFR is 3.698% (2026-09-24); an illustrative Ralo 5/6 ARM priced 2026-09-28 is 6.75% (6.616% APR) with a 2.75% margin and 2/1/5 caps. Mechanics and history: the ARM Index.
Rates are illustrative examples, not a loan approval, rate lock, or commitment. Ralo is an automated mortgage broker — not a lender — available where licensed: California, Colorado, and Texas.