It is a quiet-but-tense Tuesday for mortgage rates ahead of CPI. Rates have eased for several days, but tomorrow’s inflation report could reverse that quickly. Meanwhile, a widely expected credit reporting announcement from federal regulators did not happen. Here is what you need to know on Tuesday, Oct. 13, 2026.
|
Key Number |
Latest |
|---|---|
| Mortgage Research Center 30-year fixed (Oct 13) | 7.46%, down from 7.54% a week ago |
| Freddie Mac 30-year fixed (Oct 8) | 7.40% |
| 2026 low for Freddie Mac (Feb 26) | 5.98% |
| September CPI report | Wednesday, Oct 14, 8:30 a.m. ET |
Mortgage Rates Ahead of CPI: Where They Stand
Rates are still high but drifting lower. The Mortgage Research Center reports its 30-year average fell for a fourth straight day to 7.46%, and the 15-year fixed fell to 6.64%. Other trackers show a wider range, because each uses different borrower profiles and methods. Compare several quotes before you decide.
Table 1: 30-year fixed rate by survey
|
Source |
As of | 30-year fixed |
Recent change |
|---|---|---|---|
| NerdWallet (APR) | Oct 13 | 7.32% | Down 0.11 pts vs. 1 week ago |
| Zillow lender marketplace | Oct 13 | 7.32% | Down 0.12 pts vs. Monday |
| Freddie Mac PMMS | Oct 8 | 7.40% | Up from 7.28% a week earlier |
| Mortgage Research Center | Oct 13 | 7.46% | Down 0.08 pts vs. 1 week ago |
| Mortgage News Daily | Oct 9 | 7.48% | Down 0.02 pts that day |
| Bank-rate national average | Oct 13 | 7.57% | Up 0.02 pts vs. 1 week ago |
| Zillow Home Loans | Oct 13 | 7.625% |
Other loan types from the Mortgage Research Center today: the 30-year jumbo averages 7.65%, down from 7.69% a week ago, and the 30-year refinance averages 7.51%.
How Far Rates Have Climbed in 2026
The year started with rates in the low 6% range and bottomed at 5.98% in late February. Freddie Mac’s 30-year average has since climbed about 1.4 points to 7.40%, the highest level since late 2023.
Table 2: Freddie Mac 30-year fixed rate, selected dates in 2026
|
Date |
30-year fixed |
|---|---|
| Jan 8 | 6.16% |
| Feb 5 | 6.11% |
| Feb 26 | 5.98% |
| Mar 26 | 6.38% |
| Apr 30 | 6.30% |
| May 28 | 6.53% |
| Jun 25 | 6.49% |
| Jul 30 | 6.66% |
| Aug 27 | 6.66% |
| Sep 24 | 7.03% |
| Oct 1 | 7.28% |
| Oct 8 | 7.40% |
What These Rates Mean for Your Payment
A small daily dip is helpful, but the bigger story is how much higher today’s payment is than at the February low.
Table 3: Monthly principal and interest, 30-year fixed
|
Loan amount |
5.98% (Feb low) | 7.32% (NerdWallet, Zillow) | 7.46% (MRC) |
7.625% (Zillow Home Loans) |
|---|---|---|---|---|
| $100,000 | $598 | $687 | $696 | $708 |
| $300,000 | $1,797 | $2,061 | $2,088 | $2,123 |
| $400,000 | $2,393 | $2,748 | $2,786 | $2,831 |
| $500,000 | $2,991 | $3,435 | $3,482 | $3,539 |
Kala Lending calculations. Excludes taxes, insurance and mortgage insurance. On a $400,000 loan, 7.40% costs about $376 more per month than the 5.98% February low.
Why Mortgage Rates Ahead of CPI Matter
Mortgage rates follow inflation expectations and the 10-year Treasury yield more than they follow the Fed’s headline rate. The September CPI report is due Wednesday morning, and it is the last major inflation reading before the Fed’s Oct. 27-28 meeting. Forecasters expect an energy-driven jump in headline inflation, while core inflation, which excludes food and energy, is expected to stay steady.
Table 4: September CPI forecasts vs. August
|
Measure |
August |
September forecast |
|---|---|---|
| Headline CPI, month over month | 0.4% | 0.5% to 0.6% |
| Headline CPI, year over year | 3.4% | 3.6% to 3.7% |
| Core CPI, month over month | 0.3% | 0.2% |
| Core CPI, year over year | 2.4% |
Here is how the market may react:
- Cooler-than-expected core reading: Yields could fall, and mortgage rates could ease further.
- Hot core reading: Yields could jump, and rates could return to last week’s highs.
- Energy-only surprise: The market may look past it, since the Fed watches core inflation more closely. Odds of an October Fed hike have fallen to roughly one in four.
FHFA Credit Report News: A Pause, Not a Decision
The biggest industry story this week is what did not happen. FHFA Director Bill Pulte was expected to announce on Oct. 12 that Fannie Mae and Freddie Mac would accept credit reports from two of the three bureaus instead of all three, which is called bi-merge. Instead, Pulte backed out of his scheduled appearance at the Mortgage Bankers Association’s convention in Chicago, citing scheduling conflicts.
Table 5: Where the credit report change stands
|
Item |
Status |
|---|---|
| Current requirement | Lenders still must use tr-merge reports for loans sold to Fannie and Freddie |
| Official announcement | None yet; reports said one could come in the coming weeks |
| Case for the change | MBA says members faced 40% to 50% credit-reporting cost increases for 2026 and calls tr-merge outdated |
| Case against | Critics warn that less data could raise risk and lead to higher rates or fees |
| Related change already made | Fannie and Freddie now accept VantageScore 4.0 from all lenders |
What to Watch Next
| Date | Event | Why it matters |
|---|---|---|
| Wed, Oct 14 | September CPI report (8:30 a.m. ET) | Biggest near-term driver of yields and mortgage rates |
| Thu, Oct 15 | Freddie Mac weekly survey | Shows whether rates reversed after seven straight weekly rises |
| Oct 27-28 | Fed meeting; decision Oct. 28 | Fed raised the range to 3.75%-4.00% in September; markets are split on a hold or another hike |
| TBD | Possible FHFA bi-merge announcement | Could change credit report costs for lenders and borrowers |
The outlook is not encouraging. One housing economist told Newsweek that a meaningful decline in rates looks increasingly unlikely any time soon, citing inflation pressures from military conflicts in multiple countries.
What This Means for Borrowers and Investors
- Homebuyers: Do not time the market on a one-day move. Get quotes from several lenders, ask about points and rate buydowns, and negotiate price cuts or seller credits.
- Homeowners: Most rate-and-term refinances do not pencil out near 7.5%. A cash out refinance may still make sense for debt consolidation or a property upgrade.
- Investors: Short-term financing can bridge you until long-term rates ease. Kala Lending’s fix and flip loans, rehab loan and real estate business loans are built for that.
Final Word
Mortgage rates ahead of CPI are easing, but one report can change the direction fast. Plan around today’s pricing, not the hope of a drop, and keep an eye on Wednesday’s number. Kala Lending can help you compare options and choose a structure that fits your goals.
Ready to move forward? Apply now, browse our loan services, or contact our team. For more updates, visit the Kala Lending blog.
Disclaimer: This article is for informational purposes only and is not a rate quote, loan offer or financial advice. Rates change daily and depend on your credit, down payment and property type. Kala Lending, LLC does not guarantee any specific rate.