Key facts
- The 30-year fixed mortgage rate was 7.38% on October 2, 2026.
- The 15-year fixed mortgage rate was 6.65% on October 2, 2026.
- The 10-year Treasury yield closed at 5.28% on October 2, 2026.
- The forecast for the 30-year fixed mortgage rate is 7.43% by October 9, 2026.
- The forecast for the 15-year fixed mortgage rate is 6.70% by October 9, 2026.
- The forecast direction for mortgage rates is rising with low confidence.
Mortgage rates are projected to increase in the week of October 5-9, 2026, with the 30-year fixed rate expected to reach 7.43% by the end of the week, according to a forecast by Mortgage Rate Forecast. The current 30-year fixed rate stands at 7.38%, and the 15-year fixed rate is at 6.65% as of October 2, 2026.
The primary driver for this forecast is the bond market, specifically the 10-year Treasury yield, which closed at 5.28% on October 2, nearing its one-year high. Analysts note that with no major economic releases scheduled until the CPI report on October 14, the trend is unlikely to break before then, unless the 10-year yield fails to hold above 5.29%.
Mortgage Rate Forecast has a "Rising" call for the week with "Low" confidence. The base case predicts a gradual increase of about one basis point per day. The forecast suggests that borrowers with closing timelines of 45 days or more might consider floating their rates until the CPI report, but should pre-determine their lock-in rate. For those with closing timelines under 30 days, it is advised to lock in current rates or re-run quotes, as the 10-year yield could push rates higher if it surpasses 5.29%.