Daily Mortgage Rates Today: October 26, 2026

Purchase mortgage rates on the Zillow lender marketplace outpaced refinance rates on Monday, October 26, 2026, with the 30-year fixed purchase rate landing at 7.12%, Yahoo Finance reported. That figure sits one basis point above the comparable refinance rate, continuing a shifting landscape across national averages as borrowers weigh fixed and adjustable options.

Zillow Lender Marketplace Rates For Purchase And Refinance

National average data tracked on October 26, 2026, shows distinct pricing across loan types on the Zillow lender marketplace. The 30-year fixed purchase mortgage stands at 7.12%, while the 30-year fixed refinance rate rests slightly lower at 7.11%. The 20-year fixed purchase rate is recorded at 6.83%, compared to a 6.71% refinance rate. For the 15-year term, the purchase rate of 6.48% trails the 15-year refinance rate of 6.57% by nine basis points.

Adjustable-rate mortgages display a similar divergence between buying and refinancing. The 5/1 ARM purchase rate sits at 7.00%, which is 17 basis points higher than the 5/1 refinance rate of 6.83%. Meanwhile, the 7/1 ARM purchase rate comes in at 6.38%, trailing its refinance counterpart of 6.74%. Veterans Affairs loan averages also reflect distinct tiers, with the 30-year VA purchase rate at 6.68% and the 30-year VA refinance rate at 6.65%.

Monthly Payments Across Term Lengths And Loan Scenarios

Borrowers evaluating loan terms frequently analyze how interest rates translate into monthly financial commitments. A 30-year term spreads payments across 360 months to keep initial costs lower, though total interest accumulates significantly over the life of the loan. For instance, a $300,000 mortgage at a 6.70% rate incurs a monthly principal and interest payment of $1,935.04, leading to approximately $396,614 in total interest over three decades according to standard amortization calculations.

Opting for a 15-year term accelerates the payoff timeline and reduces overall interest expenses, though monthly obligations increase. Securing that same $300,000 loan at a 6.04% rate raises the monthly payment to $2,537.41. Under that shorter structure, total interest drops to $156,734, providing substantial savings for borrowers capable of handling the higher monthly disbursement.

Forecasts And Industry Projections Through Year End

Industry forecasts point toward sustained rate averages through the final months of 2026. The Mortgage Bankers Association projects that the 30-year mortgage rate will average 7.3% for the remainder of the year. Fannie Mae anticipates a similar trajectory, predicting a 30-year average rate of 7.4% through year-end.

These predictions highlight the gap between marketplace aggregators and institutional forecasters. While Zillow captures daily data from its lender marketplace, entities like Freddie Mac compile weekly averages from loan applications submitted to underwriting systems. Borrowers navigating the market continue to face elevated borrowing costs shaped by broader economic conditions and individual financial profiles.

More on this story: Why 7.5 Percent Mortgage Rates Are the New Normal for Homebuyers