The average 30-year fixed mortgage rate climbed to 7.03% this week, up from 6.95% last week and 0.37 points higher than four weeks ago. Rates have now risen in 6 of the last 8 weekly surveys. That is the highest reading of the past year.
What that means in dollars: on a median $416,000 home with 20% down, this week's rate puts the principal-and-interest payment at $2,221/month, about $18 more than at last week's rate.
The 30-year fixed rose to 7.03% this week, 0.08 points above last week, near the top of its 12-month range of 5.98% to 7.03%.
The 15-year fixed averaged 6.42%, up from 6.26% last week.
For context, the 30-year rate has ranged from 5.98% to 7.03% over the past year. The last time rates were higher was the week of January 16, 2025.
Source: Freddie Mac Primary Mortgage Market Survey via FRED, released September 24, 2026.