30-year mortgage rate hits 7.28%, a 52-week high, squeezing homebuyers
MarketsFN Data Team
The 30-year fixed mortgage rate rose to 7.28% this week, up 25 basis points, pushing the monthly payment on a $400,000 loan to $2,737 — $241 more than a year ago.
The 30-year rate now sits well above its 3-month (6.72%), 1-year (6.38%), and 5-year (6.21%) averages, marking a 52-week high after climbing 112 basis points year-to-date. At 7.28%, a $400,000 mortgage costs $2,737 monthly, up sharply from $2,496 at last year’s 5.98% low.
Rates are rising as the 10-year Treasury yield hits 5.27%, reflecting inflation fears and Fed policy. The mortgage-Treasury spread of 2.01 percentage points suggests lenders remain cautious, pricing in higher risk amid economic uncertainty.
Next week, watch for Fed commentary on rate cuts and September inflation data. A hot CPI report could push rates higher, while softer numbers may offer relief. Seasonal housing slowdowns may also ease upward pressure.
Key Statistics at a Glance
| Week ending | October 08, 2026 |
| 30Y Fixed Rate | 7.28% |
| WoW change | ▲ 25.0 bps |
| YTD change | +112.0 bps |
| 15Y Fixed Rate | 6.60% |
| 15Y WoW | ▲ 18.0 bps |
| 3-month average | 6.72% |
| 1-year average | 6.38% |
| 5-year average | 6.21% |
| 52-week high | 7.28% |
| 52-week low | 5.98% |
| Fed Funds Rate | 3.75% |
| 10Y Treasury | 5.27% |
| Mortgage–10Y Spread | 2.01 pp |
| Monthly pmt $400k/30Y | $2,737 |
| vs 1 year ago | ▲ $241/month |
