Current Mortgage Rates
Source: Freddie Mac Primary Mortgage Market Survey® · Week ending October 22, 2026
30-Year Fixed Conforming
7.32%
↓ 0.08% from 7.40% last week
Estimated P&I on $300k home (10% down): $1,854/mo
15-Year Fixed Conforming
6.68%
↓ 0.03% from 6.71% last week
Estimated P&I on $300k home (10% down): $2,377/mo
FHA & VA rates will be displayed upon verification of certified government loan survey data. Conforming rates shown are national benchmarks and not individual rate quotes.
Weekly US Benchmark Mortgage Rates
247444 Mortgage News tracks weekly conforming mortgage rates across the United States sourced directly from the Freddie Mac Primary Mortgage Market Survey® (PMMS). For the week ending October 22, 2026, the 30-year fixed conforming rate averaged 7.32% (down from 7.40%), while the 15-year fixed rate averaged 6.68% (down from 6.71%).
What’s in a Mortgage Payment?
Your monthly mortgage payment is more than just paying off the loan balance. Understanding the four core components (PITI + PMI) helps you budget accurately and avoid closing-table surprises.
| Cost Component | Monthly Estimate | Share |
|---|---|---|
| Principal & Interest | $1,855 | 72% |
| Property Taxes | $312 | 12% |
| Homeowner’s Insurance | $167 | 7% |
| Private Mortgage Insurance (PMI) | $230 | 9% |
| Total Estimated Monthly Payment | $2,564 | 100% |
Scenario: $300,000 purchase price, 10% down payment ($30,000), current 7.32% benchmark interest rate, 30-year fixed term. Property tax and homeowner insurance vary by county and insurer. PMI is typically required on conventional loans with down payments below 20% and cancels once you reach 20% home equity.