Mortgage interest rates rose materially over the past 30 days. As of this week, the average U.S. rate for a 30‑year fixed mortgage is 7.4%, compared with 6.71% a month ago. That’s a jump of about $46 per $100,000 borrowed in monthly payments. We are getting closer to the long-term average rate of 7.68% than we have been in recent memory.
Relative to the long‑term average of 7.68%, today’s rates still offer some savings, roughly $19 less per month for every $100,000 borrowed. Rates are significantly higher than they were a year ago. Over the past 12 months, the average monthly payment on a $100,000 30‑year fixed mortgage has increased by about $80. For a borrower taking out the 2026 maximum conventional loan of $832,750, today’s payment would be approximately $680 more than it would have been in October 2025.
