Shorter Loans Carry the Lowest Fixed Rates in Our Network
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Shorter loans carried the lowest fixed rates in FreeRateUpdate’s lender network. On October 7 the best advertised purchase rate was 5.75% on both a 10-year fixed loan and a 15-year VA loan, a full point below the best conventional 30-year at 6.75%.
At 30 years, the government-backed loans came in lower. The best VA and FHA rates were both 6.25%, half a point under the conventional loan, and those advertised rates, which aren’t quotes, had APRs of 6.549% on the VA loan and 7.044% on the FHA loan, whose mortgage insurance and other charges lift its APR above the conventional loan’s 6.923%.
| Loan | Rate | APR | Points |
|---|---|---|---|
| 10-year fixed | 5.75% | 6.261% | 1.877 |
| 15-year VA | 5.75% | 6.202% | 1.621 |
| 15-year fixed | 5.875% | 6.21% | 1.713 |
| 15-year FHA | 5.99% | 6.812% | 1.745 |
| 30-year FHA | 6.25% | 7.044% | 1.866 |
| 30-year VA | 6.25% | 6.549% | 1.843 |
| 20-year fixed | 6.375% | 6.608% | 1.606 |
| 30-year fixed | 6.75% | 6.923% | 1.535 |
| 30-year jumbo | 6.75% | 6.937% | 1.651 |
| 15-year jumbo | 6.875% | 7.175% | 1.606 |
The one place a shorter loan priced higher
Jumbo loans went the other way. The best 15-year jumbo rate was 6.875%, an eighth of a point above the 30-year jumbo at 6.75%, which matched the conventional 30-year that day.
Source: FreeRateUpdate As Low As rate history, best advertised purchase rates in our lender network, recorded October 7, 2026. Captured data: 10-year · 15-year VA · 15-year · 15-year FHA · 30-year FHA · 30-year VA · 20-year · 30-year · 30-year jumbo · 15-year jumbo.
