US Mortgage Rates Moved Downward Across Several Key Loan Terms

By Marcus Liu - Business Editor Updated October 24, 2026

On Saturday, October 24, 2026, average U.S. mortgage rates moved downward across several key loan terms, providing a slight respite for homebuyers following weeks of market volatility. According to Zillow lender marketplace data reported by Yahoo Finance, the benchmark 30-year fixed mortgage rate fell by 4 basis points to 7.12%. Meanwhile, shorter-term borrowing costs experienced steeper declines, as the 15-year fixed rate dropped 22 basis points to 6.48% and the 5/1 adjustable-rate mortgage (ARM) slid 24 basis points to 7.00%.

Weekend Rate Reductions Across Loan Terms

The weekend adjustment brought mixed movements depending on the data provider and specific loan structure. NerdWallet reported that its tracking of Zillow data put the 30-year fixed rate at 7.11% on Saturday morning, down five basis points from the previous day. That same NerdWallet dataset placed the 15-year fixed rate at 6.54% following a three-basis-point drop, while the 5-year ARM rose 24 basis points to 7.11%.

Despite day-to-day fluctuations, broader weekly trends show modest softening. NerdWallet noted that the 30-year fixed rate sat 13 basis points lower than it did one week prior, though it remained 106 basis points higher than the same period a year ago. Across the national averages tracked by Zillow, the full schedule of purchase rates on October 24 stood at 7.12% for the 30-year fixed, 6.83% for the 20-year fixed, 6.48% for the 15-year fixed, 7.00% for the 5/1 ARM, 6.38% for the 7/1 ARM, 6.68% for the 30-year VA loan, 6.14% for the 15-year VA loan, and 6.18% for the 5/1 VA loan.

Zillow Reports Refinance Averages on October 24

Borrowers evaluating refinance options faced similar pricing on October 24. Zillow figures showed refinance averages at 7.11% for a 30-year fixed, 6.71% for a 20-year fixed, 6.57% for a 15-year fixed, 6.83% for a 5/1 ARM, 6.74% for a 7/1 ARM, 6.65% for the 30-year VA refinance, 5.99% for the 15-year VA refinance, and 6.14% for the 5/1 VA refinance. Refinance rates frequently run higher than purchase rates, though market conditions occasionally narrow that gap.

Broader economic anxieties continue to dictate rate trajectories. Kate Wood, writing for NerdWallet, pointed out two major forces driving recent bond market behavior. First, investor nervousness regarding artificial intelligence corporate profits and the eventual repayment of data center corporate bonds pushed capital back into U.S. Treasuries, driving bond prices up and yields down. Second, the potential for renewed military conflict involving Iran and its subsequent impact on oil prices and inflation remain a persistent risk for bond yields and mortgage pricing.

Forecasters Project Mortgage Rates Through 2026

Industry forecasters anticipate that elevated rates will persist through the remainder of the year. The Mortgage Bankers Association (MBA) projects that 30-year mortgage rates will average 7.3% through the rest of 2026. Fannie Mae shares a similar outlook, predicting a 30-year average of 7.4% through year-end.

Discrepancies between daily trackers and weekly indices stem from collection methodologies. Zillow gathers daily pricing from its active lender marketplace, whereas Freddie Mac compiles weekly averages based on actual loan applications submitted to its underwriting system.