Mortgage rate
7.40%
Freddie Mac PMMS · Week of 2026-10-08Trend unavailable
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Published Bloomberg snapshot · AskB commentary · Official benchmarks labeled separately.
Weekly rate change
+0.120 pp
+0.120 percentage pointsPrevious week: 7.280%Buying power change
-1.2%
−$4,310 in loan amountAt $2,500/mo P&I · 30 yearsBuyer brief
Mortgage rates are at their highest level in nearly three years, with the average 30-year fixed rate at 7.40% as of this week according to Freddie Mac. Rates have risen for seven straight weeks, adding meaningfully to monthly payment costs for homebuyers. The housing market is experiencing very low transaction activity, with both buyer demand and seller supply constrained. Some sellers in certain markets are beginning to reduce asking prices in response to the rate environment, according to WSJ reporting. The Federal Reserve has indicated it expects to raise interest rates further in the months ahead, which influences the direction of mortgage rates. Bond market conditions stabilized somewhat Thursday after a strong government debt auction, and oil prices are pulling back Friday morning, but the broader rate environment remains elevated compared to recent years.
Automatically updated public data
Official rate benchmarks
2-year Treasury
4.82%
Treasury daily par yield · 2026-10-1410-year Treasury
5.19%
Treasury daily par yield · 2026-10-1430-year Treasury
5.52%
Treasury daily par yield · 2026-10-1430-year FRM
7.40%
Freddie Mac PMMS · Week of 2026-10-0815-year FRM
6.73%
Freddie Mac PMMS · Week of 2026-10-08U.S. Treasury publishes daily par yields; Freddie Mac PMMS publishes weekly national mortgage averages. Checked hourly on site visits. These benchmarks are not intraday quotes or lender offers.
Your buyer conversation toolkit
Agent Pro tools
Explore payment, buying power, and negotiation scenarios with your own numbers.
Affordability & payment toolsInteractive calculators
Mortgage payment calculator
Estimate principal, interest, taxes, insurance, and HOA.
Results update as you editEstimates only
Buying power calculator
Compare loan amounts supported by the same P&I budget.
7.40% rate$361,074Estimated loan amount
7.28% rate$365,384Estimated loan amount
Change in loan buying power+$4,310
Loan amount, not purchase price. Excludes taxes, insurance, HOA, and mortgage insurance.
Results update as you editEstimates only
Rate buydown calculator
Compare principal and interest at three fixed rates.
| Rate | P&I / mo | Saves / mo | Saves / yr |
|---|---|---|---|
| 7.40% | $2,492.57 | — | — |
| 7.40% | $2,492.57 | $0.00 | $0.00 |
| 7.40% | $2,492.57 | $0.00 | $0.00 |
Negative savings means a higher payment. Assumes a fixed rate for the full term; buydown costs are not included.
Results update as you editEstimates only
Seller concession vs. price reduction
Compare a lower purchase price with an assumed seller-paid permanent buydown.
Price reduction$2,417.79/mo$349,200 loan · 7.40%
Seller-paid buydown$2,492.57/mo$360,000 loan · 7.40%
Price reduction saves +$74.78/mo versus the original payment.
Buydown saves $0.00/mo versus the original payment.
Monthly P&I savings with price reduction$74.78$4,486.62 cumulative payment difference over 5 years
Concession budget: $13,500. The assumed rate must be available within that budget. Compares P&I only, excluding taxes, equity, closing costs, and mortgage insurance. Lender/program limits apply.
Results update as you editEstimates only
Rate change = more buying power
Translate a rate change into a purchase budget at the same down payment percentage.
Budget at 7.28%$456,730Estimated purchase price
Budget at 7.40%$451,342Estimated purchase price
Change in estimated purchase budget−$5,388
On your $450,000 home, estimated P&I changes from $2,463.16 to $2,492.57 per month.
Purchase budgets use your target P&I payment and down payment percentage. Taxes, insurance, HOA, mortgage insurance, and closing costs are excluded.
Results update as you editEstimates only
What to tell buyers today
Mortgage rates are at their highest level in nearly three years, with the average 30-year fixed rate at 7.40% as of this week according to Freddie Mac. Rates have risen for seven straight weeks, adding meaningfully to monthly payment costs for homebuyers. The housing market is experiencing very low transaction activity, with both buyer demand and seller supply constrained. Some sellers in certain markets are beginning to reduce asking prices in response to the rate environment, according to WSJ reporting. The Federal Reserve has indicated it expects to raise interest rates further in the months ahead, which influences the direction of mortgage rates. Bond market conditions stabilized somewhat Thursday after a strong government debt auction, and oil prices are pulling back Friday morning, but the broader rate environment remains elevated compared to recent years.
CLIENT-READY LANGUAGEIllustrative estimates, not lending offers or financial advice. Examples exclude mortgage insurance, closing costs, and lender fees unless noted. Verify pricing and eligibility with a licensed lender.