The average 30-year fixed mortgage rate rose to 7.03% this week from 6.95%, Freddie Mac said Thursday, its first reading above 7% since January 2025. The 15-year rate rose to 6.42%.
Rates have now risen for five weeks straight, following the Fed’s first rate increase since 2023 and a 10-year Treasury yield above 5%.
Borrowers are reacting. Mortgage applications fell 1.5% in the week ending September 18, the Mortgage Bankers Association said, with its contract rate at 7.12%.
Freddie Mac’s Sam Khater said housing remains supported by a solid labor market.
The 30-year mortgage rate rose 0.74 points in six weeks
Freddie Mac 30-year fixed, weekly average, Jul 30 to Oct 8, 2026
Advertisement
Sources
This is information, not a recommendation to buy, sell or borrow. Read our investment disclaimer.
