Are mortgage rates above 7 percent again?

Freddie Mac's weekly survey put the average 30-year fixed rate at about 7.3 percent in early October 2026, compared with about 6.3 percent a year earlier. Other trackers have shown rates hovering in the low to mid 7 percent range through the fall.

Most forecasts entering 2026 expected rates to ease into the low-to-mid 6s, so the actual market has run higher than the predictions.

Mortgage rates track long-term bond yields, which respond to inflation expectations, economic data, and the path of Federal Reserve policy. When those shift, rates shift with them.

No one can reliably predict the next move, which is why the planning should center on the number you can lock, not the number in a headline.

A higher rate means a higher monthly payment for the same price, so the practical response is to let the payment set the price range. Comparing lenders matters, because quotes differ.

Seller concessions, rate buydowns, and down payment assistance programs can all lower the effective cost, and they are worth having in the plan.

Buyers are more payment-sensitive at high rates, so pricing and condition matter more, and well-priced homes still sell. Homes priced ahead of the market tend to sit.

A strong presentation, honest pricing, and flexible terms can keep your home competitive in any rate environment.

I work with you to build the full monthly picture from a real pre-approval, negotiate concessions and terms that protect your budget, and time your rate lock with a lender you trust.

If rates fall after you buy, refinancing is often the next step, and we plan for that too.