Freddie Mac's weekly survey for October 8, 2026 puts the average 30-year fixed rate at 7.40%, up from 7.28% a week earlier. The 15-year fixed averaged 6.73%.
What it means for your budget
Even a quarter-point change moves the monthly payment noticeably. If your pre-approval is more than a few weeks old, it was probably written at a lower rate, so ask your loan officer to rerun it before you tour.
Three things to ask before you write an offer
- Rate lock: how long can you lock, and what does a longer lock cost?
- Buydowns: a seller credit can pay for a temporary or permanent rate buydown, which sometimes helps more than a price cut.
- Loan type: compare a 15-year, an adjustable-rate loan and a 30-year side by side for your plans.
If you want the numbers for a specific home, send me the address and I will run them with you.
