US Mortgage Rates Climb Further in October

The US 30-year fixed-rate mortgage averaged 7.28% as of October 1, 2026, up from 7.03% the previous week and 6.34% a year earlier. Freddie Mac Chief Economist Sam Khater said the housing market continues to be supported by favorable economic conditions as mortgage rates remain elevated. The 15-year fixed-rate mortgage averaged 6.60%, up from 6.42% a week earlier.

The US 30-year fixed-rate mortgage averaged 7.03% as of September 24th, 2026, rising above 7% for the first time since January 2025 and up from 6.95% in the previous week. Following increasing concerns over inflationary pressures, broader selloffs in the global government debt market pushed the 10-Year Treasury note above 5% to the highest level in nearly two decades. As a result, a climb in mortgage rates continues to weigh on prospective homebuyers. Although lacking any particular economic significance, economists refer to the threshold as a psychological ceiling. A year ago, the the 30-year fixed-rate mortgage averaged 6.3%. Meanwhile, the 15-year fixed-rate mortgage averaged 6.42%, its highest level since May 2024, up from 6.26% last week.

The US 30-year fixed-rate mortgage averaged 6.95% as of September 17th, 2026, rising for a fourth consecutive week and up from 6.76% in the previous week. The rate remains at its highest level since January 2025 and is inching closer to the 7% mark. A year ago, the 30-year fixed-rate mortgage averaged 6.26%. Following the Federal Reserve’s hike in its benchmark rate, borrowing costs show little sign of easing, weighing on prospective homebuyers. Meanwhile, the 15-year fixed-rate mortgage averaged 6.26%, also its highest level since January 2025, up from 6.09% last week and 5.41% a year earlier.