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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →The average U.S. 30-year fixed mortgage rate was 7.28% in Freddie Mac’s weekly survey released October 1, 2026, the highest reading since November 2023. That was 0.25 percentage point above the previous week’s 7.03% and above the 6.34% recorded a year earlier. It is a national survey average—not a personalized quote or a rate every borrower could get.
What is the average 30-year mortgage rate in October 2026?
Freddie Mac’s Primary Mortgage Market Survey (PMMS) put the 30-year fixed-rate average at 7.28% as of October 1, 2026. The directly comparable weekly reading was 7.03%; the reading one year earlier was 6.34%. Freddie Mac also reported a 15-year fixed average of 6.60%, compared with 6.42% the prior week and 5.55% a year earlier. Freddie Mac’s PMMS results are national averages based on selected purchase applications that meet the survey criteria.
The October 1 release reflects rates offered Thursday through Wednesday and is published on Thursday. It is a weekly measurement, not a quote guaranteed to have been available to every borrower on October 1. Freddie Mac chief economist Sam Khater said in the release, “With mortgage rates on their current trajectory, the housing market continues to be supported by favorable economic conditions.” That comment provides general context; it does not explain the week’s increase or forecast where rates will go.
How much did the weekly average rise?
Freddie Mac’s 30-year average increased from 7.03% to 7.28% in one week. The 0.25-percentage-point difference is arithmetic from those two published readings, not a separate Freddie Mac statistic. A borrower’s quote can change by a different amount—or not match either average—because lenders price loans using borrower and loan details.
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- Loan Amortization and Remaining Balances
- Instant Principal, Interest, Interest Only and Total Payments
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Illustration for a $400,000 loan
RateZip calculated that principal and interest on a hypothetical $400,000, 30-year loan would be $2,736.85 per month at 7.28%, compared with $2,669.27 at 7.03%—a difference of $67.58 per month. This is a calculation, not a lender offer, and excludes property taxes, homeowners insurance, mortgage insurance, and other borrowing costs. RateZip’s October 2, 2026 lender-posting snapshot is a separate observation: five of its six conventional 30-year fixed entries were above 7.28%. Those posted rates were not matched offers and varied in credit, points, fees, loan size, and eligibility, so the small snapshot is not a market-wide or apples-to-apples comparison.
Why 7.28% is not your mortgage quote
A survey average summarizes a defined set of applications; a lender quote is an offer based on a specific borrower, property, loan, and pricing choices. Your rate may depend on factors such as credit, down payment, loan amount, points, fees, and eligibility. A posted lender rate also may assume conditions that do not fit your situation.
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- SPEAKS YOUR LANGUAGE: Keys clearly labeled in residential mortgage finance terms like Loan AMT, Int, Term, PMT. This industry-standard calculator is super easy to use on all realty financing matters from finding a loan that works for your client to considering trust deeds investments, or finding remaining balances or balloon payments and much more
- CONFIDENTLY AND EASILY SOLVES: All your clients' financial questions whether they are buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: At the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or tvm calculations Find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: Reduce your clients' confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket User's Guide, and long-life batteries
The interest rate is only one part of the cost. The annual percentage rate (APR) incorporates the interest rate and certain loan costs, making it useful alongside the rate when comparing offers. The Consumer Financial Protection Bureau (CFPB) also recommends comparing loan amount, points, closing costs, fixed versus adjustable structure, term, and risky features. Budget separately for property taxes, homeowners insurance, and private mortgage insurance when applicable; these can add substantially to the monthly housing cost. See the CFPB’s mortgage overview.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to compare mortgage offers fairly
- Ask for the same loan setup. Give each lender the same loan amount, term, down payment, and points assumption so the offers are comparable.
- Compare rate and APR together. Review the quoted interest rate, APR, points, lender fees, and closing costs rather than choosing on the headline rate alone.
- Check the loan structure. Confirm whether the offer is fixed or adjustable, the repayment term, and any features that could change payments or add risk.
- Build the full monthly budget. Add estimated taxes, homeowners insurance, and mortgage insurance if required, as well as other applicable costs, to principal and interest.
- Verify assumptions and eligibility. Ask what credit, property, loan-size, and other conditions the quote assumes, and whether the rate is available for your circumstances.
Rates move from week to week, and the October 1 reading by itself does not establish why the average rose or what direction rates will take next. Treat it as a dated benchmark; evaluate current, written offers against your own loan terms and total costs.
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- Extra large 12-digit angled display.
- Loan Wizard.
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- SPEAKS YOUR LANGUAGE: Keys clearly labeled in residential mortgage finance terms like Loan Amt, Int, Term, Pmt; this industry-standard calculator is super easy to use on all realty financing matters from finding a loan that works for your client to considering trust deeds investments, or finding remaining balances or balloon payments and more
- CONFIDENTLY AND EASILY SOLVE: Clients' financial questions whether they're buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions from PITI Payments to IRR, NPV and Cashflows
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: For your client at the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or TVM calculations find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: To your clients by reducing their confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket user's guide, and long-life battery
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- DEDICATED FUNCTION KEYS for Quick Financial Solutions: Clearly labeled function keys enable you to quickly and confidently provide financial answers and options for your clients, whether in the office, in the car or at an open house. Compare loan options and provide payment solutions to give your client choices
- INSTANT FINANCIAL PROBLEM SOLVING: Solve the financial questions your clients have whether they are buyers, investors or renters; increase your perceived professionalism and close more home sales by quickly answering real estate finance problems including remaining balances
- RESIDENTIAL REAL ESTATE FINANCE TERMS: Keys labeled in residential real estate finance terms like Loan AMT, Int, Term, PMT; Calculator is super easy to use to determine a mortgage loan that works for your client
- VERSATILE LOAN CALCULATION OPTIONS: Calculate 80:10:10 or 80:15:5 combo loans at the press of a button; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices
- COMES COMPLETE: Comes with a protective slide cover, quick reference guide, pocket user's guide, two long-life batteries, and 1-year warranty
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