The average U.S. rate for a 30-year fixed mortgage moved above 7% in Freddie Mac’s latest weekly survey, adding to borrowing costs for prospective homebuyers. The survey recorded an average of 7.03% for the week ending September 24, 2026.
The rate was 6.95% the previous week, ending September 17. Freddie Mac’s figures show increases in each of the four weekly readings from August 27 through September 24. That is four consecutive weekly increases, rather than the five stated in the original description.
What the latest mortgage rate figures show
Freddie Mac reported that the average 30-year fixed rate rose from 6.66% on August 27 to 6.71% on September 3, 6.76% on September 10, 6.95% on September 17 and 7.03% on September 24.
The average for a 15-year fixed-rate mortgage also increased. Freddie Mac put it at 6.42% on September 24, up from 6.26% the prior week.
Freddie Mac’s weekly survey is based on loan applications submitted by lenders. Its published rates are national averages, not promises of the rate a particular borrower will receive. The offered rate can depend in part on individual factors such as credit.
What this means for consumers
A higher mortgage rate can increase borrowing costs and affect how much a homebuyer can borrow while keeping payments within a chosen budget. The national average alone does not determine the cost of a particular loan, and it does not include every charge associated with getting a mortgage.
When comparing loan offers, consumers can look beyond the interest rate. The Consumer Financial Protection Bureau explains that the annual percentage rate, or APR, also reflects points, broker fees and other charges. Comparing the APR and other loan terms can provide a broader view of costs than comparing interest rates alone.
The figures are a snapshot of weekly averages, not an individualized quote. A borrower’s actual offer may differ based on personal circumstances and the loan being considered.
What to watch
The next Freddie Mac weekly survey will show whether the national averages continue to rise, level off or fall. The September 24 reading is for the week ending that date; it should not be treated as a current rate quote for a later application.
For now, the verified figures establish that the 30-year average was above 7% in the September 24 survey and had risen for four consecutive weeks. They do not establish a fifth consecutive increase.
NYC Home Affordability Tightens as Mortgage Rates Rise Above 7%