By Aijaz Alam
What is the average 30-year mortgage rate and monthly payment?
The average 30-year fixed mortgage rate in the US was 7.24% in the week to 29 October 2026, per Freddie Mac, down from 7.32% a week earlier but up from 6.17% a year ago. At that rate a $320,000 loan costs about $2,181 a month in principal and interest; Redfin puts the typical buyer's payment at $2,786.
- 7.24%Average 30-year fixed mortgage rateFreddie Mac PMMS, 29 Oct 2026; 6.17% a year earlier
- 6.60%Average 15-year fixed mortgage rateFreddie Mac PMMS, 29 Oct 2026; 5.41% a year earlier
- $2,786Typical US homebuyer's monthly paymentRedfin, four weeks to 25 Oct 2026, at a 7.32% rate
- $2,251Monthly payment on a typical single-family home, 20% downNAR, Q3 2026
The numbers
The full breakdown
Average fixed mortgage rates, each week since late July 2026
| Week ending | 30-year fixed | 15-year fixed |
|---|---|---|
| 29 Oct 2026 | 7.24% | 6.60% |
| 22 Oct 2026 | 7.32% | 6.68% |
| 15 Oct 2026 | 7.40% | 6.71% |
| 8 Oct 2026 | 7.40% | 6.73% |
| 1 Oct 2026 | 7.28% | 6.60% |
| 24 Sep 2026 | 7.03% | 6.42% |
| 17 Sep 2026 | 6.95% | 6.26% |
| 10 Sep 2026 | 6.76% | 6.09% |
| 3 Sep 2026 | 6.71% | 6.04% |
| 27 Aug 2026 | 6.66% | 5.98% |
| 20 Aug 2026 | 6.65% | 5.95% |
| 13 Aug 2026 | 6.67% | 5.96% |
| 6 Aug 2026 | 6.69% | 6.01% |
| 30 Jul 2026 | 6.66% | 6.04% |
Freddie Mac Primary Mortgage Market Survey (PMMS). Released Thursdays at 12 p.m. ET; each figure averages loan rates offered from the prior Thursday through Wednesday.
Monthly principal and interest on a 30-year fixed loan
| Loan amount | At 7.24% (29 Oct 2026) | At 6.17% (30 Oct 2025) |
|---|---|---|
| $200,000 | $1,363 | $1,221 |
| $300,000 | $2,044 | $1,832 |
| $320,000 (a $400,000 home with 20% down) | $2,181 | $1,954 |
| $400,000 | $2,726 | $2,442 |
Our calculation with the standard fixed-rate amortization formula, using Freddie Mac's average rates for the two weeks. Excludes property tax, home insurance, mortgage insurance and fees, so a real payment is higher. Individual rates depend on credit score, down payment and points.
Typical homebuyer's monthly payment, Redfin
| Period | Median monthly payment | Mortgage rate used | Change from a year earlier |
|---|---|---|---|
| 4 weeks to 25 Oct 2026 | $2,786 | 7.32% | +10.7% |
| 4 weeks to 11 Oct 2026 | $2,777 | 7.4% | +8.8% |
Redfin housing market updates of 29 and 15 October 2026. Median monthly mortgage payment, seasonally adjusted; Redfin called each the highest on record except the week before. Vendor data.
Over time
30-year fixed mortgage rate by year: our calculation from Freddie Mac weekly rates
| Year | Average of weekly rates (our calculation) | Highest week | Lowest week |
|---|---|---|---|
| 2016 | 3.65% | 4.32% | 3.41% |
| 2017 | 3.99% | 4.30% | 3.78% |
| 2018 | 4.54% | 4.94% | 3.95% |
| 2019 | 3.94% | 4.51% | 3.49% |
| 2020 | 3.11% | 3.72% | 2.66% |
| 2021 | 2.96% | 3.18% | 2.65% |
| 2022 | 5.34% | 7.08% | 3.22% |
| 2023 | 6.81% | 7.79% | 6.09% |
| 2024 | 6.72% | 7.22% | 6.08% |
| 2025 | 6.60% | 7.04% | 6.15% |
| 2026 (to 29 Oct) | 6.52% | 7.40% | 5.98% |
Our calculation from Freddie Mac's weekly PMMS history file: the simple average, highest and lowest of each year's weekly 30-year rates. Freddie Mac changed the PMMS method in November 2022 to use rates on applications submitted to its Loan Product Advisor. The record high in the file is 18.63% (9 Oct 1981) and the record low 2.65% (7 Jan 2021).
Why sources differ
Same question, different answers
| Number | When | Who measured | Why it differs |
|---|---|---|---|
| 7.24% | Week to 29 Oct 2026 | Freddie Mac PMMS | Average 30-year fixed rate offered on loan applications, Thursday to Wednesday |
| 7.32% | 4 weeks to 25 Oct 2026 | Redfin | The weekly average mortgage rate Redfin used for its payment estimate |
| $2,786 | 4 weeks to 25 Oct 2026 | Redfin | Median monthly payment for homes bought, seasonally adjusted |
| $2,251 | Q3 2026 | NAR | Payment on a typical existing single-family home with a 20% down payment |
The mortgage rate most news reports quote is Freddie Mac's weekly Primary Mortgage Market Survey: 7.24% for the week to 29 October 2026, an average of rates on loan applications it received from the prior Thursday through Wednesday. Daily rate trackers and lenders' advertised rates move every day and depend on the borrower, so they can sit above or below the weekly average; a single borrower's rate depends on credit score, down payment and points. Monthly payment figures differ even more. Redfin's $2,786 is the median payment for homes actually bought over four weeks, using a recent average rate. NAR's $2,251 is the payment on its quarterly median single-family price with 20% down, so it reflects a lower price and a bigger down payment. Our table shows principal and interest only, before tax and insurance. Quote Freddie Mac's rate with its week, and name the price and down payment behind any payment figure.
What it means
How to use these numbers
Mortgage rates have climbed back above 7% this autumn, from about 6.7% in August to 7.40% in early October, the highest since November 2023, before easing to 7.24% at the end of the month. That is more than a point higher than a year ago (6.17%), though well below the 7.79% peak of October 2023.
A one-point rise matters a lot to a monthly budget. On a $320,000 loan, the move from 6.17% to 7.24% adds about $227 a month in principal and interest, or about $2,700 a year. Redfin's typical payment is near its record for the same reason.
For buyers, that means getting pre-approved with a rate lock, comparing several lenders and checking whether points or a larger down payment pay off. For agents and builders, high rates go with the drop in pending sales and the rise in price cuts, and rate buydowns can be a stronger incentive than a price cut.
Rates change weekly, so always say which week a figure is from.
Method and sources
How it was measured
Method
- Publisher
- Freddie Mac: Primary Mortgage Market Survey (PMMS); Redfin housing market updates; NAR quarterly metro home prices (affordability)
- Sample
- PMMS: rates on applications submitted to Freddie Mac's Loan Product Advisor, averaged over Thursday to Wednesday. Redfin: homes sold across 900+ metros over four weeks.
- Definition
- 30-year fixed-rate mortgage average, in percent. Payment table: principal and interest only, our calculation.
- Released
- PMMS for 29 October 2026, published that day; Redfin update of 29 October 2026; NAR Q3 2026 release of 29 October 2026
- Checked at source
- 31 October 2026: freddiemac.com/pmms and PMMS_history.csv; redfin.com updates of 15 and 29 October; nar.realtor Q1 and Q3 2026 metro releases
- Next release
- Freddie Mac publishes PMMS every Thursday; Redfin updates weekly
- Last changed
- 31 Oct 2026
- Data files
- CSV · JSON (stable links)
Sources
- Primary Mortgage Market Survey (PMMS), Freddie Mac Industry body
- Redfin Housing Market Update, Redfin Vendor data
- Profile of Home Buyers and Sellers; Generational Trends; Existing-Home Sales, National Association of REALTORS Industry body
Cite this page
APA
MLA
HTML link
FAQ
More questions people ask
What is the 15-year mortgage rate?
The average 15-year fixed rate was 6.60% in the week to 29 October 2026, down from 6.68% a week earlier and up from 5.41% a year ago (Freddie Mac).
What was the highest 30-year mortgage rate ever?
18.63%, in the week of 9 October 1981, in Freddie Mac's PMMS history. The lowest was 2.65%, on 7 January 2021.
How much does a 1% higher rate add to a mortgage payment?
On a $320,000 30-year loan, going from 6.17% to 7.24% adds about $227 a month in principal and interest ($1,954 to $2,181), by our calculation.
What share of income goes on a mortgage payment?
NAR estimates typical families spent 24.1% of income on mortgage payments in the third quarter of 2026, up from 23.9% in the second quarter and down from 24.5% a year earlier.
Every number on this page was checked at its original source (Freddie Mac, Redfin, National Association of REALTORS). Free to cite with a link to this page.