The rise in mortgage rates extended well beyond the conforming 30-year loan. All six products in RateZip's October 1 snapshot of the Optimal Blue Mortgage Market Indices were higher than a week earlier. Five of the six were above 7%; the 15-year fixed index was 6.681%.
That does not mean every product set a new high on the same day. The 15-year conforming and 30-year FHA indexes matched the highest values in their respective trailing 52-week windows. The other four sat below their own highs. A broad increase and a simultaneous record are different claims, and the latest readings support only the first.
| Mortgage index | October 1 rate | One-week change | Trailing 52-week high |
|---|---|---|---|
| 30-Year Fixed | 7.368% | +12 bp | 7.386% |
| 15-Year Fixed | 6.681% | +16 bp | 6.681% |
| 30-Year Jumbo | 7.337% | +9 bp | 7.562% |
| 30-Year FHA | 7.096% | +14 bp | 7.096% |
| 30-Year VA | 7.005% | +8 bp | 7.083% |
| 30-Year USDA | 7.091% | +19 bp | 7.138% |
Source: Optimal Blue indexes via FRED, October 1, 2026 observations, reproduced on RateZip's mortgage-rate dashboard. One basis point is 0.01 percentage point. Weekly changes are rounded to whole basis points.
A lower index is not a cheaper equivalent loan
The 15-year index was 0.687 percentage point below the 30-year conforming index. Its shorter repayment period still makes the monthly payment larger at the same loan amount. For a hypothetical $400,000 loan, the indexed rates imply monthly principal and interest of $3,524.35 over 15 years versus $2,760.79 over 30 years. This is amortization arithmetic, not a quote or an offer. Taxes, insurance, mortgage insurance, fees and closing costs are excluded.
The FHA, VA and USDA categories also cannot be substituted purely by choosing the lowest rate in the table. Program eligibility, loan limits and applicable insurance or guarantee costs differ. Jumbo loans serve a different loan-size segment. The indexes reflect different pools of locked loans, not competing offers to one borrower on identical terms.
What the comparison can tell you
The common weekly direction shows that this increase was not confined to one mortgage category. It cannot establish which lender will offer a particular household the lowest total cost. These interest-rate indexes are not APRs, and their differences do not include every financing charge.
An actual comparison requires the same loan amount, repayment period, rate-lock period and points treatment, along with each loan's APR and upfront charges. The CFPB's Loan Estimate guide explains where those figures appear. A different product may still fit a household's circumstances; the indexes alone cannot answer that question.
RateZip is operated by Peklava LLC, DBA RateZip, a licensed mortgage broker (NMLS ID 1592292). We are compensated by some of the partners shown, which may affect which offers appear and where. It does not affect our reporting or recommendations. See our editorial standards.