Current Mortgage Rates
As of , the average 30-year fixed mortgage rate increased to 7.534%, up from 7.51% last week. The average 20-year fixed rate also increased to 7.451%, compared with 7.439% a week ago.
The average 15-year fixed mortgage rate increased to 6.722%, while the 5-year ARM increased to 7.139%. Both rates are also higher than they were last week.
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Get My Rate →Mortgage Rate News This Week - October 7, 2026
Mortgage Rates Climb Above 7.5% as Treasury Yields Stay Elevated
Mortgage rates continue to climb this week, with the average 30-year fixed rate reaching 7.56% on Oct. 7, according to Bankrate. The 15-year fixed rate is averaging 6.79%, while jumbo loans are around 7.52%.
The latest increase comes as the 10-year Treasury yield remains above 5.3%, keeping pressure on mortgage pricing. Investors are also watching the Federal Reserve's September meeting minutes for clues about whether another rate hike could come later this year.
While expectations for an October Fed hike have fallen sharply, markets still anticipate another increase later in the year. That leaves mortgage rates vulnerable to further moves in Treasury yields, particularly with oil prices still near $100 a barrel.
For homebuyers, the latest move means affordability remains under significant pressure. Rates have now moved well above the 7% threshold, and buyers who were hoping for relief this fall may have to adjust their budgets or wait for bond-market conditions to improve.
Today's Average Mortgage Rates
See the current national average mortgage rates for popular loan types.
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