The average 30-year mortgage rate was 7.40% for the week of Oct 8, 2026, up 1.10 points from a year earlier. Here is the last two years, and what a rate move means for a payment.
Two years of rates
Freddie Mac's weekly Primary Mortgage Market Survey, 30-year fixed average. Over this span the average was highest at 7.40% (week of Oct 8, 2026) and lowest at 5.98% (week of Feb 26, 2026).
| Week of | 30-year average rate |
|---|---|
| Oct 8, 2026 | 7.40% |
| Oct 1, 2026 | 7.28% |
| Sep 24, 2026 | 7.03% |
| Sep 17, 2026 | 6.95% |
| Sep 10, 2026 | 6.76% |
| Sep 3, 2026 | 6.71% |
| Aug 27, 2026 | 6.66% |
| Aug 20, 2026 | 6.65% |
What a rate move means
On a $700,000 loan, each quarter point of rate changes the principal-and-interest payment by roughly $115 a month at today's levels. Use the calculators to see the effect on a price you have in mind.
Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Point Mortgage Corporation (NMLS #231073), at (619) 475-4095. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
Freddie Mac's average describes what lenders reported for borrowers with strong credit and about 20% down. Your own rate depends on your credit, your down payment, the loan and the day. Source: Freddie Mac. Not a rate quote or advice.