Rates Higher Than Last Update Despite End of Week Improvements
Approximate Rates for Week Ending 10/9/26
Despite a late‑week rebound, mortgage rates still finished slightly higher than in my last update. The bond market remains cautious as investors wait for clearer direction from the Federal Reserve. Until we see more convincing evidence that inflation is easing, meaningful downward movement in mortgage rates will be hard to achieve. The improvement we saw at the end of the week may hint that we’re near the top but given how sharply rates have climbed since late August, that may be optimistic.
67% of experts think rates will go up over the next week while 25% think they will stay the same and 8% think they will go down.
If you have any questions or would like advice tailored to your needs, I would be happy to help! And if you have any family or friends that you think might benefit from my services, I would be grateful for the referral!
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Mark Smith
Victoria Capital
Los Gatos
408 353 9784
www.MarkSmithLoans.com
|
Program |
No Points (APR) |
1 Point (APR) |
Change since last update |
|
Conforming (<$832,750) |
|||
|
30yr Fixed |
7.125% (7.21%) |
6.875% (7.16%) |
+0.125% |
|
30yr FHA |
6.75% (7.19%) |
6.55% (7.32%) |
+0.125% |
|
30yr FTHB |
7.125% (7.21%) |
6.875% (7.16%) |
+0.125% |
|
10yr ARM |
- |
- |
- |
|
7yr ARM |
- |
6.625% (6.75%) |
-0.125% |
|
5yr ARM |
7.0% (6.61%) |
6.375% (6.78%) |
+0.125% |
|
15yr Fixed |
6.625% (6.71%) |
6.25% (6.69%) |
+0.125% |
|
High-Cost Conforming (>$832,750<$1,249,125) * |
|||
|
30yr Fixed |
7.375% (7.41%) |
7.125% (7.28%) |
+0.125% |
|
30yr FHA |
6.875% (6.99%) |
6.625% (7.09%) |
+0.25% |
|
30yr FTHB |
7.25% (7.31%) |
7.0% (7.38%) |
+0.125% |
|
5yr ARM |
- |
- |
- |
|
15yr Fixed |
7.0% (7.09%) |
- |
+0.125% |
|
Jumbo (>$1,249,125) * |
|||
|
30yr Fixed |
7.0% (7.04%) |
6.75% (6.79%) |
+0.125% |
|
10yr ARM |
6.75% (6.74%) |
6.5% (6.59%) |
No Change |
|
7yr ARM |
6.625% (6.64%) |
6.375% (6.63%) |
No Change |
|
5yr ARM |
- |
- |
- |
|
15yr Fixed |
7.25% (7.29%) |
7.0% (7.29%) |
+0.25% |
LOWER HOME AFFORDABLE RATES FOR FIRST TIME HOMEBUYERS (FTHB) SUBJECT TO INCOME LIMITS
No Points No Cost Also Available!Conforming Rates and APRs calculated on Purchase loan amount of $600k (conforming), $900k (high-cost conforming,) and $1.25m (Jumbo) 30- day lock, 60% LTV, impounds,780 fico.
FTHB (First Time Home Buyer) conforming rates based on purchase loan amount of $750,000 with 20% down, High Cost Conforming $1m with 20% down. Subject to Income Limits
FHA Rates and APRs Calculated on Purchase Loan amount of $700k (Conforming) and $1m (High Cost), 30-day lock, 96.5% LTV, 720 Fico
This is not a commitment to lend. Rates are provided for informational purposes only. Please contact me for rates, products, and costs for your individual situation.
*Assumes high-cost areas, e.g., Santa Clara County and other Bay Area Counties
DRE: 01395052
NLMS:308562
