Mortgage rate report — week of 2026-10-12
Published 2026-10-12
Ralo's illustrative 30-year fixed rate is 6.99% (7.051% APR), up 0.49 percentage points over 30 days and 0.41 percentage points below the Freddie Mac PMMS average of 7.4%. Ralo's illustrative 15-year fixed rate is 6.375% (6.467% APR), up 0.5 percentage points over 30 days, while the 20-year fixed is 7% (7.08% APR), up 0.376 percentage points.
On the 30-year fixed by credit score and down payment, a 780 score with 20% down runs 6.875% – 7.49% (6.978% – 7.55% APR), while a 660 score with 5% down runs 7.375% – 8.125% (8.063% – 8.936% APR). By state at a 740 score with 20% down, Texas runs 6.875% – 7.125% (6.978% – 7.207% APR) versus California at 7.125% – 7.625% (7.189% – 7.686% APR).
On the ARM desk, Ralo's illustrative 5/6 ARM is 6.75% (6.616% APR), with a margin of 2.75% and caps of 2/1/5, against a 30-day average SOFR of 3.808%.
Ralo vs the market: Ralo’s illustrative 30-year fixed rate is 6.99% (7.051% APR), priced 2026-10-11, against a Freddie Mac PMMS 30-year national average of 7.4% (as of 2026-10-08).
| Term | Illustrative rate | APR | 30-day change |
|---|---|---|---|
| 30-year fixed | 6.99% | 7.051% | +0.490 pts |
| 20-year fixed | 7% | 7.08% | +0.376 pts |
| 15-year fixed | 6.375% | 6.467% | +0.500 pts |
Illustrative 30-year ranges by credit band (2026-10-09):
| Credit score | Down payment | Rate range | APR range |
|---|---|---|---|
| 780 | 20% down | 6.875% – 7.49% | 6.978% – 7.55% |
| 780 | 5% down | 6.875% – 7.49% | 7.222% – 7.835% |
| 740 | 20% down | 6.875% – 7.625% | 6.978% – 7.686% |
| 740 | 5% down | 7% – 7.625% | 7.44% – 8.066% |
| 700 | 20% down | 6.875% – 8.125% | 6.978% – 8.236% |
| 700 | 5% down | 7.125% – 8.125% | 7.633% – 8.681% |
| 660 | 20% down | 6.875% – 8.125% | 6.978% – 8.296% |
| 660 | 5% down | 7.375% – 8.125% | 8.063% – 8.936% |
Local ranges (30-year fixed, 740 score, 20% down; 2026-10-09):
| State | Rate range | APR range |
|---|---|---|
| CA | 7.125% – 7.625% | 7.189% – 7.686% |
| CO | 7.125% – 7.25% | 7.197% – 7.315% |
| TX | 6.875% – 7.125% | 6.978% – 7.207% |
Full county-level history: the City Rate Index.
ARM desk: the 30-day average SOFR is 3.808% (2026-10-08); an illustrative Ralo 5/6 ARM priced 2026-10-12 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.