Mortgage Rates Today in Texas: Daily Index, Movement, and Lock Timing (2026)
As of October 2, 2026, the Mortgage News Daily index shows the 30-year fixed at 7.57% and the 15-year fixed at 7.19%, while Freddie Mac's weekly survey averaged 7.28% for the week ending October 1, 2026, up from 7.03% the prior week. Below: today's full index, why rates move daily, and how to time your lock.
Last Updated: October 4, 2026 at 9:00 PM CT
Mortgage rate: the interest a lender charges on a home loan, expressed as a yearly percentage of the borrowed amount. At 7.28% on a $350,000 30-year loan, principal and interest run about $2,395 per month.
What do mortgage rates in Texas look like today?
Today's daily index from Mortgage News Daily, published around 4 PM Eastern on October 2, 2026:
- 30-year fixed: 7.57% (up 0.03)
- 15-year fixed: 7.19% (up 0.01)
- 30-year jumbo: 7.66% (unchanged)
- 7/6 SOFR ARM: 6.85% (down 0.02)
- 30-year FHA: 7.20% (up 0.05)
- 30-year VA: 7.18% (up 0.01)
Daily national survey benchmarks from Mortgage News Daily, October 2, 2026. Not quotes; all rates are subject to change without notice.
For weekly context, Freddie Mac's Primary Mortgage Market Survey averaged 7.28% on the 30-year fixed for the week ending October 1, 2026, up from 7.03% and 6.95% in the two prior weeks, and well above the 6.34% average a year earlier. The weekly survey and the daily index measure differently, so treat the range between them as the honest benchmark.
Why do mortgage rates change every day?
Mortgage rates follow mortgage-backed securities, which trade like bonds. When inflation reads hot or the Federal Reserve sounds cautious, those securities sell off and rates rise; when the opposite happens, rates fall. Employment reports and global events move the market intraday, which is why lenders sometimes reprice more than once in a single day.
For borrowers, the practical takeaway is that yesterday's quote is stale. On a $400,000 loan, the recent three-week climb from 6.95% to 7.28% in the weekly survey added about $89 per month to the payment. Small daily moves compound fast.
What determines the rate you are quoted today?
Must have factors:
- A credit score within the program's pricing tier.
- A loan-to-value ratio set by your down payment or equity.
- A debt-to-income (DTI) ratio within program limits, usually 43% or lower.
- A loan amount inside program limits, such as $832,750 conforming for 2026.
May be required: discount points to buy the rate down, a longer lock for new construction, and lender overlays that vary from one company to the next.
How do you lock today's mortgage rate, step by step?
- Get pre-approved so your quotes reflect your real file, not a generic scenario.
- Collect same-day quotes on identical terms from at least two or three lenders.
- Compare APR, points, and lender fees on each Loan Estimate.
- Choose a lock window that covers your closing date, usually 30 to 60 days.
- Lock in writing, and ask whether a float-down applies if rates improve before closing.
Why Liberty Home Mortgage
Rate sheets change with the market, and stale quotes are the most common way borrowers overpay. As a Dallas-Fort Worth local broker, we quote multiple wholesale lenders on the same day for the same file and refresh the numbers when the market moves. Call 972-466-2551 to speak with a licensed loan officer, NMLS #184238.
Illustrative example: the cost of waiting three weeks
A buyer in Garland shopping a $400,000 loan watched the weekly benchmark climb from 6.95% for the week ending September 17 to 7.28% for the week ending October 1, 2026. Same loan, same file: the payment moved from about $2,648 to about $2,737 per month, roughly $89 more every month for the life of the loan, or about $32,000 over 30 years. The index did the moving, not the lender.
Assumptions: 30-year fixed, 20% down, illustrative survey rates, principal and interest only. This example is illustrative only; your figures depend on pricing and qualifications. Call 972-466-2551 for numbers based on your situation.
Where Liberty Home Mortgage lends
Rate change impact calculator
Estimates only, not a loan offer or commitment to lend. Principal and interest on a 30-year fixed; other terms and products differ. Rates and figures are subject to change; verify with a licensed loan officer at 972-466-2551. Source: standard amortization formula.
Common questions about today's mortgage rates
What are mortgage rates today in Texas?
As of October 2, 2026, the Mortgage News Daily index shows the 30-year fixed at 7.57%, the 15-year fixed at 7.19%, the 30-year jumbo at 7.66%, the 7/6 SOFR ARM at 6.85%, the 30-year FHA at 7.20%, and the 30-year VA at 7.18%. Freddie Mac's weekly survey put the 30-year fixed at 7.28% for the week ending October 1, 2026. Your quote depends on your file and the lender.
Why do mortgage rates change every day?
Mortgage rates follow mortgage-backed securities, which trade like bonds. Inflation reports, Federal Reserve statements, employment data, and global events all move those securities daily, so lenders reprice, sometimes more than once a day. A daily index like Mortgage News Daily captures the movement; a weekly survey like Freddie Mac's captures the average across the week.
What time of day are mortgage rates updated?
Mortgage News Daily publishes its rate index around 4 PM Eastern on weekdays, after the bond market closes. Lenders can reprice their own rate sheets at any point during the business day, so a quote from the morning may not survive to the afternoon in a volatile market. That is why same-day comparison matters more than yesterday's number.
Should I lock my rate today or wait?
No one can promise where rates go next, so the honest test is whether today's payment works for your budget and timeline. If it does, locking removes the risk, and some lenders offer a float-down if rates improve before closing. If you have weeks before closing and room to absorb movement, floating may be reasonable, and we will tell you plainly which fits your file.
What is the difference between the daily index and the weekly survey?
The daily index tracks quoted rates each business day under fixed assumptions, so it moves with the market in real time. The weekly survey polls lenders once a week and averages their rates, so it lags by design but covers more lenders. When the two disagree, as they often do by a few tenths, treat the range between them as the honest benchmark.
Do Texas rates differ from national rates today?
Texas loans price from the same national rate sheets, so the daily index applies here too. What differs is the lender margin and your file, not the state. A borrower in Houston and a borrower in Dallas see the same market; they may still receive different quotes from different lenders on the same day, which is why shopping beats watching.
Resources
- Refinance Rates Texas: when today's numbers make a refi pencil.
- FHA Loan Rates Texas: government-insured pricing.
- VA Loan Rates Texas: rates for eligible veterans.
- Mortgage Rate Lock Texas: timing your lock.
- Best Mortgage Rates in Texas: how to shop and compare.
- When Will Mortgage Rates Go Down: market direction, honestly framed.
Want today's real numbers for your file? Call 972-466-2551 for a same-day quote from multiple wholesale lenders, or apply online.
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