Rate Direct Mortgage Rate Index
6.615%
Updated Thursday, September 17, 2026 at 12:20 AM UTC
Conventional Purchase benchmark (80% LTV, 780 FICO, primary residence) across hundreds of lenders
No discount points - lowest rate available without paying upfront points to buy down.
Benchmark Scenarios
Lowest available rate with no discount points paid for each standard mortgage scenario, sourced live from hundreds of lenders
No discount points - rate shown for each scenario is the lowest available without buying down the rate with upfront points.
| Scenario | Rate (no points) | APR |
|---|---|---|
Conv Purchase Conventional Purchase (80% LTV, 780 FICO, Primary) | 6.615% | 6.651% |
FHA Purchase FHA Purchase (96.5% LTV, 680 FICO, Primary) | 6.125% | 6.162% |
FHA Streamline Refi FHA Streamline Refinance (96.5% LTV, 680 FICO) | 6.125% | 6.162% |
VA Purchase VA Purchase (100% LTV, 680 FICO, Primary) | 6.125% | 6.156% |
VA IRRRL Refi VA IRRRL Refinance (95% LTV, 680 FICO) | 6.250% | 6.280% |
USDA Purchase USDA Purchase (100% LTV, 680 FICO, Primary) | 6.125% | 6.166% |
How to Read the Rate Direct Rate Index
The Rate Direct Rate Index is a benchmark that tracks the lowest available mortgage rate across hundreds of wholesale lenders for Conventional, FHA, and VA loans. It is calculated using standardized scenarios that represent the most common homebuyer profiles.
Unlike generic rate quotes that represent a single lender's pricing, the Rate Direct Rate Index reflects the true market floor - the lowest rate any borrower could get by comparing across the full lender landscape.
The index is updated hourly during market hours. Your actual rate will depend on your specific scenario (FICO, LTV, loan type, property type, and loan amount). Use the Rate Direct pricer to see your exact rate from hundreds of lenders.
Rate Index Archive
| Date | Conventional | FHA | VA |
|---|---|---|---|
| Sep 16, 2026 | 6.625% | 6.125% | 6.250% |
| Sep 15, 2026 | 6.500% | 6.000% | 6.125% |
| Sep 14, 2026 | 6.250% | 6.000% | 6.000% |
| Sep 13, 2026 | 6.250% | 6.000% | 6.000% |
| Sep 12, 2026 | 6.250% | 6.000% | 6.000% |
| Sep 11, 2026 | 6.250% | 4.750% | 4.750% |
| Sep 10, 2026 | 6.250% | 5.875% | 5.875% |
| Sep 9, 2026 | 6.250% | 5.750% | 5.875% |
| Sep 8, 2026 |