The average 30-year fixed mortgage rate held steady to 7.4% this week, unchanged from 7.4% last week and 0.45 points higher than four weeks ago. 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 $2,304/month, essentially unchanged from last week.
The 30-year fixed held at 7.4% this week, unchanged week over week, near the top of its 12-month range of 5.98% to 7.4%.
The 15-year fixed averaged 6.71%, down from 6.73% last week.
For context, the 30-year rate has ranged from 5.98% to 7.4% over the past year.
Source: Freddie Mac Primary Mortgage Market Survey via FRED, released October 15, 2026.