The average 30-year fixed mortgage rate fell to 7.32% from 7.40% last week, according to Freddie Mac, marking the first decline since late August. The 15-year fixed rate also eased to 6.68% from 6.71%. Rates have climbed since late February, when the U.S. war with Iran began, pushing up oil prices and inflation alongside bond-market volatility; the 10-year Treasury yield, which lenders use as a pricing guide, has eased in recent weeks after hitting its highest level since 2002 and was around 5% on Thursday. On a $400,000 loan, the rise has added roughly $355 to the monthly cost, and Fannie Mae projects the 30-year rate will average 7.4% in the final quarter of this year and 7.5% in 2027.
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Related tickers and likely impact
DXY
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 101.70 |
| Change that session | 0.00% |
XAU/USD
▲ Likely positiveRelevance: low
| Market | Gold |
|---|---|
| Close on 10/21/2026 | 4,141.17 |
| Change that session | +0.39% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/21/2026 | 773.13 |
| Change that session | +0.53% |
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Related news
- Average mortgage rate eases to 7.32%, first pullback since late August
According to Freddie Mac, the average 30-year fixed mortgage rate eased to 7.32% from 7.40% last week, its first decline since late August, while the 15-year rate slipped to 6.68% from 6.71%. Rates have climbed since late February, when the U.S. war with Iran began and pushed up oil prices and inflation, and the 10-year Treasury yield has mostly eased in recent weeks after hitting its highest level since 2002. The 30-year rate was 6.19% a year ago and briefly dipped to 5.98% in late February, and the increase since then adds roughly $355 a month to the cost of a $400,000 loan. U.S. home sales remain stalled, and Fannie Mae projects the 30-year rate will average 7.4% in the final quarter of this year and 7.5% in 2027.
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- Average mortgage rate eases to 7 . 32 %, first pullback since late August
Freddie Mac said the average 30-year fixed mortgage rate fell to 7.32% from 7.40% last week, the first weekly decline since late August, though it remains above 6.19% a year ago. The 15-year fixed rate, often chosen by borrowers refinancing, eased to 6.68% from 6.71%. Rates have climbed since late February, when the U.S. war with Iran began and pushed oil prices and inflation higher, and they generally track the 10-year Treasury yield, which has eased in recent weeks after hitting its highest level since 2002. The rise has added about $355 a month to the cost of a $400,000 home loan, and home sales remain stalled. Fannie Mae forecasts the 30-year rate will average 7.4% in the fourth quarter of 2026 and 7.5% in 2027.
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