Today's Mortgage Rates
Friday, October 9, 2026
Market Update from RJ
We are currently navigating a higher rate environment where the 30 year fixed sits near the top of its 52 week range. While today shows a minor dip, the reality is that rates are significantly higher than the 6.09 percent we saw one year ago. The market is adjusting to a new normal where persistent inflation and strong economic growth mean interest rates stay elevated for the foreseeable future. Our primary drivers remain stubborn inflation data and high government borrowing needs, which keep pressure on bond yields. The Federal Reserve is committed to keeping policy tight to fight rising prices, and they are not signaling a pivot anytime soon. For my buyers and realtors, stop chasing daily rate fluctuations that act as market noise. If you find a home that fits your budget today, lock in your rate to protect against further volatility, and remember that you can always refinance if rates eventually drop.
Current Rate Snapshot
Source: MortgageNewsDaily30-Year Fixed
15-Year Fixed
30-Year Jumbo
7/6 SOFR ARM
30-Year FHA
30-Year VA
30-Year Fixed, 52 Week Range
Today's rate is in the upper third of its 52-week range
What's Moving Rates
- Persistent inflation keeping borrowing costs higher for longer
- High levels of government bond issuance increasing yield pressure
- Strong GDP growth supporting a high interest rate policy
- Federal Reserve prioritizing price stability over immediate rate cuts
Mortgage Headlines
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Local Market Analyzer
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Understanding the Average Rate
What it means, what it doesn't, and how to use it.
PNW Market Insights
Washington State · Pacific Northwest
Increased Inventory and Time on Market
In Whatcom County and Bellingham, homes are taking longer to sell compared to 2025. In Bellingham, the average days on market jumped from 23 days in Q2 2025 to 39 days in Q2 2026. Active listings have also increased, giving buyers more choices and negotiating power.
View source →Home Prices Holding Steady or Slightly Dipping
While some reports show slight year-over-year increases in average sold prices for Q2 2026, more recent data indicates that median home prices in Whatcom County and Bellingham have held steady or dipped slightly by late summer 2026. For example, Redfin reported a 2.0% drop in Whatcom County home prices over the three months ending August 2026.
View source →Affordability Outside Bellingham
Buyers looking for more affordable options are finding them outside of Bellingham city limits. In Q2 2026, the average sold price in Whatcom County was approximately $723,000, which is about $170,000 less than Bellingham's average of $892,000. Communities like Ferndale, Lynden, and Blaine offer different lifestyle options at lower price points.
View source →New Affordable Housing Development in Ferndale
A new 46-home permanently-affordable community called Thornton Village is moving forward in Ferndale. The project, developed by Kulshan Community Land Trust in partnership with Whatcom County and the city of Ferndale, recently received state funding.
View source →