Lending desk · September 3, 2026
Points and lock period are not in the 6.81% index
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Thursday’s lending note is about the two knobs a survey headline hides. The last official daily 30-year this site has cited is 6.81% as of August 28. That print describes a top-tier coupon. It does not say how many points the lender wants, and it does not say whether the lock is 15, 30, or 45 days. Those two choices move the APR before Friday’s Employment Situation.
What does a point actually buy on a 6.81% tape?
A point is one percent of the loan amount paid at closing to lower the coupon, or a credit the other way if the borrower takes a higher coupon. The daily index is usually a low-point, top-tier snapshot. A file that needs two points, a condo warrantable waiver, or a second home surcharge is not that snapshot. The payment calculator can show principal and interest at 6.81%. It cannot price your points.
Freddie Mac’s weekly 30-year of 6.66% as of August 27 is a different sample. Mixing that weekly average into a same-day points conversation is how people invent a discount that no lender offered.
Why lock period matters the day before payrolls
A 15-day lock and a 45-day lock are different products. Longer coverage usually costs more in rate or points. September 4 is the last monthly payrolls print before the September 15–16 FOMC meeting. A household that needs 45 days to close is buying event risk that a 15-day lock does not cover.
This site will not invent Monday’s or Wednesday’s daily index if it has not been sourced here. Keep August 28 at 6.81% as the last cited official daily coupon. A lock conversation belongs with a licensed originator. This desk will not take the application.
FAQ
Does 6.81% include points?
The last cited Mortgage News Daily daily 30-year as of August 28, 2026 is a top-tier coupon snapshot. Your points, lock period, and property type can produce a different APR.
Should I lock 45 days because payrolls are tomorrow?
Only if the longer lock’s cost is worth the calendar. This publication does not lock rates or take applications.
Sources: Mortgage News Daily daily rate index (30-year 6.81% as of August 28, 2026); Freddie Mac PMMS (weekly 30-year 6.66% as of August 27, 2026); BLS Employment Situation calendar (August payrolls scheduled September 4, 2026).