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Average mortgage rates today

Mortgage Type
Label
Rate
APR

30-Year Fixed
Most Popular
7.36%
7.4%

30-Year FHA
Lower Credit
6.93%
8.11%

30-Year VA
Military
7.01%
7.18%

30-Year Jumbo
High Balance
7.57%
7.59%

15-Year Fixed
Shorter Term
6.65%
6.73%

7/6 ARM
Shorter Term
6.81%
6.9%

HELOC
Home Equity
8.02%
8.02%

Home Equity Loan
Home Equity
8.24%
8.25%

Updated on 10/08/2026

Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, LLC, NMLS# 1907, Equal Housing Opportunity, Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and Product details

Mortgage rates moved lower for the second day in a row. The 30-year fixed-rate loan averaged 7.4%, down by 0.02 percentage points. Rates are likely to remain elevated through year-end as inflation fears and the rising national debt keep applying upward pressure.
Key mortgage rate averages:

The 30-year fixed-rate mortgage averaged 7.4% APR
The 30-year fixed-rate FHA mortgage averaged 8.11% APR
The 30-year fixed-rate VA mortgage averaged 7.18% APR
The 30-year fixed-rate jumbo mortgage averaged 7.59% APR
The 15-year fixed-rate mortgage averaged 6.73% APR
The 7/6 adjustable-rate mortgage averaged 6.9% APR
The rate on a HELOC averaged 8.02% APR
The rate on a home equity loan averaged 8.25% APR

Mortgage rate trends
Mortgage rates appear to be stabilizing in the mid-7% range, their highest level since 2023. While elevated rates increase affordability challenges for some buyers, lower volatility can give financially ready buyers time to find and lock in a favorable rate.
Prospective buyers hoping rates will decrease later this year may be disappointed. In emailed comments, Kara Ng, senior economist at Zillow Home Loans, writes that rates are likely to move only a little lower. Zillow’s revised rate forecast now expects the 30-year rate to average 7.1% by year’s end.
Which loan is best for you?
When shopping for a mortgage, you may be offered several loan options to meet different needs. Here’s a rundown of the most common loan types you’ll find, and who they work best for.
30-year conventional mortgage: Conventional loans work best for borrowers who have a credit score above 620, have saved enough to make a down payment of at least 3% and are looking for flexibility in the type of property being purchased.
30-year Federal Housing Administration (FHA) mortgage: FHA loans are good for first-time homebuyers, borrowers with less-than-perfect credit scores or those with a high debt-to-income ratio.
30-year U.S. Department of Veterans Affairs (VA) loan: Specifically designed for active-duty and retired service members, members of the National Guard and Reserves, and surviving spouses. Offers 0% down loan options, competitive rates and accepts less-than-perfect credit scores.
30-year jumbo loan: Good for homebuyers purchasing property that is priced above the Federal Housing Finance Agency (FHFA) conforming loan limit. In 2026, that limit is $832,750 in most of the U.S. but increases to $1,249,125 in high-cost areas.
15-year fixed-rate loan: Borrowers who prefer a shorter loan term and can afford to make higher monthly payments will pay less overall interest with a 15-year mortgage and pay off the loan faster.
7/6 adjustable rate loan: Good for a buyer who wants to lock in a favorable interest rate for a set period of time and either plans on selling the home before the interest rate starts, is willing to make a higher monthly payment once the rate becomes variable or is open to refinancing the loan.
Home equity line of credit (HELOC): A good option for a homeowner who wants to access the equity they’ve accumulated in their home and have an open line of credit to use as needed.
Home equity loan: Another option for a homeowner who wants to access their home equity and have the financial capacity to take on a second mortgage.

How mortgage rates affect affordability
Your mortgage rate can make a big difference in how much home you can afford and how large your monthly payments are. That’s true whether buying your primary residence, an investment property or refinancing an existing loan.
Here’s an example. If you bought a $250,000 home and made a 20% down payment of $50,000, your starting loan balance would be $200,000. On a $200,000 home loan with a fixed rate for 30 years, here’s what you would pay:

At a 3% interest rate = $843 in monthly payments (not including taxes, insurance, or HOA fees)
At a 4% interest rate = $955 in monthly payments (not including taxes, insurance, or HOA fees)
At a 6% interest rate = $1,199 in monthly payments (not including taxes, insurance, or HOA fees)
At an 8% interest rate = $1,468 in monthly payments (not including taxes, insurance, or HOA fees)

Using a mortgage calculator lets you see how a lower rate or other changes could affect what you pay. A home affordability calculator can also estimate the maximum loan amount you may qualify for based on your income, debt-to-income ratio, mortgage interest rate and other variables. The Consumer Financial Protection Bureau can also provide a range of rates lenders offer in each state.

Current mortgage rates FAQs
What is a 30-year mortgage rate right now?
The average rate on a 30-year fixed-rate mortgage is 7.4% as of October 8, according to Money’s rate data. Other rate surveys show 30-year rates averaging above 7.5%.
Can you get a 4% mortgage rate?
No, not under current market conditions. A 30-year fixed-rate loan is averaging 7.4% as of October 8. Rates are likely to stay at this level or even increase.
Will we ever see a 3% mortgage rate again?
Mortgage rates are unlikely to fall below 3% in the near term unless a severe economic downturn occurs. However, rates averaged in the mid-3% range before the pandemic, so a return to that range at some point in the future is not out of the question.
How much is a $300,000 mortgage at 7%?
The monthly payment on a 30-year, $300,000 conventional mortgage at 7% is $1,995.91, excluding taxes, insurance and HOA fees. Your actual payment will vary depending on your credit score, down payment, lender and location, among other factors.

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Have you ever walked through a store looking for someone who can help, only to realize you have no idea who actually works there?

It can be even more frustrating when employees are dressed similarly to the customers around them. A shopper may spend several minutes searching for assistance simply because the person stocking a shelf or walking down an aisle doesn’t immediately appear to be a member of the store’s staff.

Now, Target is taking a new approach to the problem with style.

The change comes as the company invests hundreds of millions of dollars in its stores and employees.

Target gives grocery employees a new look

Target (TGT) is requiring employees in its food and beverage departments to wear branded hats or visors and aprons during their shifts beginning Nov. 1, according to a company memo reported by Bloomberg News. The new apparel will feature Good & Gather, Target’s private-label food brand.

The change is intended to make employees easier for shoppers to identify, particularly in the grocery area, so customers can more quickly find team members who can answer questions or provide assistance.

A Target spokesperson told Bloomberg that the new apparel is designed to be functional and distinctive as the retailer works to improve the guest experience.

The new grocery attire will complement Target’s broader employee dress code. Earlier this year, the retailer updated its companywide Team Colors guidelines, which call for employees to wear sleeved red tops or vests, blue denim or khaki bottoms, and clothing with minimal non-Target logos.

Target has also expanded the clothing options available to employees through Collection186, an assortment of red and khaki apparel from Target-owned brands. The collection recently included a limited-edition Design Drop inspired by Isaac Mizrahi, the retailer’s creative director at large.

The company offers employees an additional 20% discount on adult apparel and accessories from its owned brands, a free red shirt, and a one-time coupon for 50% off owned-brand denim.

Target is putting more employees on the sales floor

The new grocery dress code is part of a broader effort to improve the in-store experience.

In September, Target said in a company announcement that it had invested hundreds of millions of dollars in additional payroll in 2026 to improve store coverage, execution, and guest-facing services.

The retailer is also testing new staffing levels in categories that involve frequent or interactive customer exchanges, including Food and Beverage, Apparel and Accessories, and Target Beauty Studio.

Target said the goal is to put more employees in the right areas at the right times while focusing on three standards for the shopping experience: making stores easy to shop, inspiring through product presentation and interactions, and creating a friendly environment.

The company also reported that guest satisfaction metrics reached a three-year high during the first quarter of 2026.

Grocery is an important part of that effort. During its second-quarter 2026 earnings call, Target said it transformed nearly half of its center-store grocery experience, adding more space for fresh food, snacks, bakery products, and emerging categories. The company reported that snack sales increased 15% year over year during the period.

Target implements a new dress code for grocery employees. Bloomberg / Getty Images

Target’s New Chapter of Growth

The employee and store investments are part of Target’s broader New Chapter of Growth strategy, introduced earlier this year.

Target plans to make an incremental $2 billion investment in 2026, including more than $1 billion in additional capital expenditures and another $1 billion in operating investments.

The company said the strategy focuses on stores, employees, technology, merchandise, and overall guest experience.

“This work is underway, and by putting style, design and value at the center of every decision, we’re making big changes to lead with a trend-forward assortment, elevate the guest experience, accelerate with technology and equip our teams to deliver the most delightful experience in retail, for today and over the long term,” Target CEO Michael Fiddelke said when the company announced the strategy.

Target is also simplifying store systems and introducing technology intended to give employees more time to help customers rather than completing administrative tasks.

Target reports stronger sales and traffic

Target’s efforts to improve its stores come as the retailer reports signs of improvement in sales and customer traffic.

During the second quarter of fiscal 2026, Target reported a 5.3% year-over-year increase in net sales and a 3.8% rise in comparable sales. Comparable traffic also climbed 3.6%.

Target has also continued emphasizing value, saying it reduced prices on more than 10,000 items over the previous year.

Food & Beverage and Beauty posted high single-digit growth, according to the company. Digital comparable sales rose 8.7%, while store comparable sales increased 2.7%.

Here’s some of my previous coverage on Target:

Target announces major changes across 130 U.S. stores

Target announces plan to solve a growing customer problem

Target adds an unexpected big brand partner

For the full year, the retailer expects net sales to grow by approximately 5%, an improvement from its previous guidance.

The new grocery uniforms are a relatively small change compared with Target’s broader investments, but they support the retailer’s effort to make its stores easier to navigate, improve employee coverage, and help customers find assistance more quickly.

Related: Target changes a signature part of its stores after 64 years

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Why we love this deal

A makeup vanity can make all the difference in your mornings. Standing over a bathroom counter puts you in a rush as you primp and preen, but sitting down at a spacious vanity allows you to take your time, appreciating the moment of self-care. It also puts everything you need, like makeup, skincare products, and hair tools, within arm’s reach, making it easier to find things and eliminating the frantic search for your favorite lipstick or eyeshadow color when you need to get out the door. 

These days, there are numerous vanity styles available, but one with upgraded features like built-in lighting and power strips will further enhance your getting-ready experience. The Ktaxon Large Makeup Vanity perfectly fits the bill with a charging station, bright lights, and a look that’s fit for Hollywood royalty. Best of all, it’s currently 32% off during Walmart Deals, dropping the price of the luxe vanity to just $185. As a bonus, multiple colors are on sale, including a dreamy blush, punchy pink, or classic black. 

Ktaxon Large Makeup Vanity, $185 (was $273) at Walmart

Courtesy of Walmart

Shop at Walmart

Why do shoppers love it?

This glamorous vanity delivers on all the must-have features and more, starting with its ample storage. With nine drawers, you’ll have plenty of space to neatly organize your makeup collection, moisturizers, serums, and hair products. To make it easier to find your go-to products, the vanity is built with a tempered glass top, which provides a glimpse inside without ever opening the smooth-gliding drawers. One shopper raved, “The storage space is amazing for all my cosmetics.”

Related: Amazon has a farmhouse storage chest with drawers for only $64

A mirror is essential for putting on makeup, and this vanity has a massive one surrounded by bright and adjustable LED lights. Without proper lighting, it’s impossible to know if your foundation streaks or your mascara is smudged, so having the ability to switch between a cool and warm light is a huge help. Another helpful feature is the built-in power strip with two outlets and USB ports, so you can plug in the curling iron or charge your phone while getting ready. We also can’t fail to mention the matching seat, which is equipped with a plush cushion so you can sit at the vanity for prolonged periods without discomfort.

Details to know 

Dimensions: The makeup vanity is larger, measuring 45 inches long, 15.75 inches wide, and 55 inches tall.

Materials: Glass and wood.

Special features: An extra-large mirror, LED lighting, and a built-in power strip. 

Is assembly required?: Yes.

With over 1,700 perfect ratings, the majority of shoppers were satisfied with this makeup vanity. However, since it’s a large piece of furniture with lots of drawers, there is going to be quite a bit of assembly. One shopper recommended, “Definitely use a drill, not the little tool they give you — it flew by making it after using a drill!”

Shop more deals

Ktaxon 6-Drawer Lighted Makeup Vanity, $152 (was $208) at Walmart

Ktaxon Sliding Mirror Makeup Vanity, $110 (was $130) at Walmart

Solidee Makeup Vanity Table Set, $120 (was $140) at Walmart

Make your mornings more efficient with the Ktaxon Large Makeup Vanity. With a luxe design and elevated features, it’s a steal while it’s available for only $185.

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