For those in the St. Louis real estate market, these rising rates could mean higher monthly payments and increased overall costs for new home loans. Buyers may find it more difficult to afford homes, while sellers might experience a slowdown in demand as borrowing becomes more expensive. However, there is a slight relief for some, as the 7/6 SOFR Adjustable Rate Mortgage (ARM) decreased to 6.85%, offering a potentially more affordable option for borrowers willing to take on the risk of future rate adjustments.
For a historical perspective on how these rates compare to previous years, interested parties can explore the chart button below. This data is provided by MORE, REALTORS®, ensuring that St. Louis residents have access to the latest and most accurate information on current mortgage rates.
Current Mortgage Rates*
| Loan Type | Current Rate | Change From Prior Day |
|---|---|---|
| 30 Yr. Fixed | 7.60% | +0.02% |
| 15 Yr. Fixed | 7.22% | +0.02% |
| 30 Yr. FHA | 7.25% | +0.01% |
| 30 Yr. Jumbo | 7.66% | +0.06% |
| 7/6 SOFR ARM | 6.85% | -0.02% |
| 30 Yr. VA | 7.25% | +0.00% |
*Rates shown are national averages from Mortgage News Daily’s Rate Index and are updated as of October 1, 2026. Individual rates may vary based on factors including loan amount, down payment, credit score, property type, occupancy status, and market conditions. Contact a licensed mortgage professional for personalized rate quotes.