Quick wins for a faster PC:
Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →The average U.S. 30-year fixed mortgage rate reached 7.28% on October 1, 2026, according to Freddie Mac—up from 7.03% a week earlier. It is the highest reading since November 2023, when the comparable average was 7.29%. This is a national weekly survey benchmark, not a rate every borrower can expect to receive.
What is the 30-year mortgage rate today?
Freddie Mac’s Primary Mortgage Market Survey reported a 7.28% average for a 30-year fixed-rate mortgage as of October 1, 2026. The survey focuses on conventional, conforming, fully amortizing home-purchase loans for borrowers with 20% down and excellent credit. Its reading describes that survey’s benchmark, not a personalized lender offer; actual pricing depends on borrower circumstances and loan terms. Freddie Mac’s survey explains its scope.
The weekly series shows rates rising through September: 6.71% on September 3, 6.76% on September 10, 6.95% on September 17, 7.03% on September 24, and 7.28% on October 1, 2026. FRED’s Freddie Mac series reproduces the observations.
Why did mortgage rates go up?
Mortgage rates respond to several market forces, including inflation, Federal Reserve policy, and expectations in bond markets. They generally track the 10-year Treasury yield, which lenders use as a guide when pricing home loans. The Federal Reserve does not directly set mortgage rates; changes in policy and the outlook for the economy can influence the market conditions that shape them. The Associated Press explains these rate influences.
The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →#1 Best Overall
Freddie Mac Chief Economist Sam Khater said in the company’s October 1, 2026 release: “With mortgage rates on their current trajectory, the housing market continues to be supported by favorable economic conditions.”
How does this compare with last week and last year?
The 30-year average rose 0.25 percentage point from 7.03% one week earlier and stood 0.94 percentage point above the 6.34% average reported a year earlier. Freddie Mac’s 15-year fixed-rate benchmark was 6.60% on October 1, up from 6.42% the week before and 5.55% a year earlier. These are changes in national survey averages, not estimates of how much a particular borrower’s payment would change. Freddie Mac’s weekly release provides the current and historical comparisons.
Rank #2
- Ideal for Gifting
- Ideal for a bookworm
- Compact for travelling
Is 7.28% a good mortgage rate?
A national average cannot establish whether a specific offer is good. Freddie Mac’s benchmark is based on a defined borrower and loan profile, while an individual quote reflects the borrower, property, lender, loan structure, and pricing details. Compare written offers for the same loan amount, term, down payment, and points, and consider both the interest rate and the total costs.
Elevated borrowing costs can limit purchasing power at a given monthly payment, and some prospective buyers may delay buying, the Associated Press reported. Whether a home fits a buyer’s budget depends on more than the rate: the loan amount, down payment, points, property taxes, insurance, and other costs also matter. Without those assumptions, a monthly-payment comparison would be misleading.
Recommended Free Tools
How should you compare a fixed mortgage with an ARM?
Freddie Mac’s 15-year fixed benchmark was 6.60% on October 1, 2026. Separately, the Associated Press reported that adjustable-rate mortgages (ARMs) accounted for more than 10% of mortgage applications in the reported week. That application share does not show that ARMs are cheaper or better for a particular buyer, and the reporting does not specify terms for any individual ARM offer.
Before comparing an ARM with a fixed-rate loan, examine:
Rank #4
- The ARM’s initial interest rate and how long it stays fixed.
- When and how often the rate can adjust, and the rules and limits governing adjustments.
- The payment after an adjustment under the loan’s terms.
- Total costs over the time you expect to keep the home, not just the initial payment.
Compare actual lender offers and their full terms; the survey averages do not identify the right loan for an individual borrower.
Quick Recap
Best Value
- It can be a gift option
- Comes with secure packaging
- Helpful in various ways
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
Free tools Windows power users keep installed
One-click scans. No signup required.
