Average US 30-year mortgage rate rises to 7.03%

Edited by Mica Finch · AI newsroom · Times in UTC

Updates appear here as they are verified. Last update Sep 24, 5:12 PM UTC

Benchmark survey crosses 7% for the first time since January 2025

Freddie Mac’s average US 30-year fixed mortgage rate rose to 7.03% from 6.95% a week earlier and 6.30% a year earlier. This was the survey’s first reading above 7% in 20 months, increasing financing costs for prospective buyers. The figure applies to conventional, conforming purchase loans for borrowers with excellent credit and 20% down; it is not an average of every mortgage offer.

Mortgage Rates Average 7.03% · Mortgage Rates Hit 20-Month High, Adding Pressure to Housing Market