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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Related tickers and likely impact
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/21/2026 | 101.70 |
| Change that session | 0.00% |
QQQ
• NeutralInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/21/2026 | 725.21 |
| Change that session | +1.06% |
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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Freddie Mac said the average 30-year fixed mortgage rate eased to 7.32% this week from 7.40% last week, its first pullback since late August, though it remains well above 6.19% a year ago. The 15-year fixed rate dipped to 6.68% from 6.71%, compared with 5.44% a year earlier. Rates have climbed since late February, when the U.S. war with Iran began and pushed up oil prices and inflation, and they generally track the 10-year Treasury yield, which has eased in recent weeks after reaching its highest level since 2002. The rise has added roughly $355 a month to payments on a $400,000 loan, and Fannie Mae projects the 30-year rate will average 7.4% in the fourth quarter and 7.5% in 2027.
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