Conventional Loan Rates in Texas: Today's Rates & Trends (2026)
As of September 24, 2026, the Freddie Mac PMMS 30-year fixed conventional rate is 7.03%, crossing 7% for the first time since January 2025. This marks the fifth consecutive week of rate increases. The 15-year fixed rate is 6.42%. Your actual rate depends on credit, down payment, loan amount, property type, and lender pricing. Fannie Mae's DU has applied no minimum credit score since November 16, 2025. Call 972-466-2551 for today's pricing.
Conventional loan rates in Texas track national benchmarks like the Freddie Mac PMMS. As of September 24, 2026, the PMMS 30-year fixed rate is 7.03%, up from 6.95% the prior week and crossing 7% for the first time since January 2025. This is the fifth consecutive week of increases. Your actual rate depends on credit, down payment, loan amount, property type, and lender pricing. Rates change daily and are subject to change without notice.
Current conventional loan rates in Texas
As of September 24, 2026, the Freddie Mac PMMS 30-year fixed conventional rate is 7.03%, up from 6.95% the prior week. The 15-year fixed rate is 6.42%, up from 6.26%. These are national benchmarks for conventional, conforming, fully amortizing loans with 20% down and excellent credit. Your actual rate depends on your credit, down payment, loan amount, property type, and the lender's pricing. Rates change daily and are subject to change without notice. Call 972-466-2551 for today's pricing.
| Loan Type | PMMS Rate (9/24/26) | Prior Week | Typical Texas Range |
|---|---|---|---|
| 30-year fixed | 7.03% | 6.95% | 6.75% to 7.75% |
| 15-year fixed | 6.42% | 6.26% | 6.00% to 7.00% |
| 5/1 ARM | — | — | 6.00% to 7.00% |
| 7/1 ARM | — | — | 6.20% to 7.20% |
| 10/1 ARM | — | — | 6.35% to 7.35% |
PMMS = conventional, conforming, fully amortizing, 20% down, excellent credit. ARM rates are estimates based on typical spreads below the 30-year fixed. Your rate depends on credit, down payment, loan amount, property type, and market conditions. Rates are subject to change without notice.
Rate trend: five consecutive weeks of increases
Mortgage rates have risen for five consecutive weeks, with the 30-year fixed crossing 7% for the first time since January 2025. The increase reflects stronger-than-expected labor market data, ongoing inflation concerns, and shifting Federal Reserve policy expectations. Rates remain well below the 8% peak seen in October 2023 but have risen significantly from the 5.98% low seen in February 2026. Most economists expect rates to remain in the 6% to 7% range through the end of 2026.
What affects your conventional loan rate
Your conventional loan rate depends on several factors. Credit score is the most significant. Fannie Mae's DU has applied no minimum credit score since November 16, 2025, evaluating files holistically. However, higher scores still earn better pricing. A borrower with 760 credit might pay 0.50% less than a borrower with 640 credit. Down payment also matters. Putting 20% down eliminates PMI and often earns a better rate. Loan amount affects pricing, with jumbo loans typically carrying higher rates. Property type matters, with investment properties and multi-unit homes carrying higher rates than primary residences. Finally, lender pricing varies, which is why shopping multiple lenders matters.
Conventional loan rates vs. other programs
| Program | Typical Rate Range | Key Difference |
|---|---|---|
| Conventional | 6.75% to 7.75% | Best rates for strong credit, PMI removable |
| FHA | 6.50% to 7.50% | Lower rates but MIP for life of loan |
| VA | 6.00% to 7.00% | Lowest rates, no mortgage insurance, eligible veterans only |
| Jumbo | 7.00% to 8.00% | Higher rates, larger loan amounts |
| DSCR | 7.50% to 8.75% | Investment property only, qualifies by rental income |
How to get the best conventional rate in Texas
- Improve your credit score. Pay down credit cards, avoid new inquiries, and correct errors.
- Save for a larger down payment. 20% eliminates PMI and often earns a better rate.
- Shop multiple lenders. Rates vary by 0.25% to 0.50% between lenders.
- Consider a 15-year term for a lower rate, or an ARM for a lower initial rate.
- Lock your rate when you are satisfied. Floating for a better rate is a gamble, especially in a rising rate environment.
Why Liberty Home Mortgage: We are a Dallas-Fort Worth mortgage company, and we shop your conventional loan across multiple wholesale lenders to find competitive pricing. Aslam Mansoor answers at 972-466-2551 and will show you actual rate quotes, not advertised teasers.
PMMS as of September 24, 2026: 30-year fixed 7.03%, 15-year fixed 6.42%. Five consecutive weeks of increases. First time above 7% since January 2025. Rates change weekly. Fannie Mae's DU has applied no minimum credit score since November 16, 2025. Your rate depends on credit, down payment, loan amount, property type, and lender pricing.
Worked example (illustrative only): A Lewisville borrower with 740 credit, 20% down, and a $400,000 loan amount might see a 7.00% rate from one lender and 7.25% from another. On a $400,000 loan, that 0.25% difference saves $67 per month or $24,120 over 30 years. Shopping multiple lenders matters. Your numbers depend on your credit, down payment, and market conditions.
Where Liberty Home Mortgage lends:
Conventional Loan Rates Texas FAQ
What is the current conventional loan rate in Texas?
As of September 24, 2026, the Freddie Mac PMMS 30-year fixed conventional rate is 7.03%, up from 6.95% the prior week. This is the fifth consecutive week of increases and the first time above 7% since January 2025. Your actual rate depends on credit, down payment, loan amount, property type, and lender pricing. Rates change daily and are subject to change without notice. Call 972-466-2551 for today's pricing.
Why have mortgage rates been rising?
Rates have risen for five consecutive weeks due to stronger-than-expected labor market data, ongoing inflation concerns, and shifting Federal Reserve policy expectations. The 30-year fixed crossed 7% for the first time since January 2025.
What credit score do I need for the best conventional rate?
Fannie Mae's DU has applied no minimum credit score since November 16, 2025, evaluating files holistically. However, higher scores still earn better pricing. Borrowers with 760+ credit typically see the best rates. Individual lenders may apply their own overlays.
How much does a 0.25% rate difference matter?
On a $400,000 loan, a 0.25% rate difference saves approximately $67 per month or $24,120 over 30 years. Shopping multiple lenders is one of the most effective ways to save money on your mortgage.
Are conventional rates higher in Texas?
No. Conventional rates are national, set by the bond market and Fannie Mae/Freddie Mac pricing. Texas-specific factors like property taxes and insurance affect your monthly payment but not the interest rate itself.
Should I lock my rate now or wait?
In a rising rate environment, locking sooner is generally safer than floating. Rates have increased five consecutive weeks. Discuss timing with your loan officer to determine the best strategy for your situation.
Related resources:
Ready to lock your conventional rate? Call 972-466-2551 or apply online today.