30-Year Mortgage Average Holds Near 52-Week High at 7.60%
The average 30-year fixed mortgage rate was 7.60%, up 0.01 percentage point from the prior day and 0.06 point from a week earlier. The 15-year fixed rate was 7.21%, and the 7/6 SOFR adjustable-rate mortgage was 6.96%. Rates remained near their 52-week highs and well above levels from a year ago.
On October 8, 2026, the 30-year fixed average stood at 7.60%, just below its 52-week peak of 7.61%. It rose 0.01 point from the previous day and 0.06 point over a week, while sitting 0.71 point above a month ago and 1.24 points above a year ago.
Other products also remained elevated: the 15-year fixed was 7.21%, the 30-year FHA 7.24%, the 30-year VA 7.25%, and the 30-year jumbo 7.70%. The 7/6 SOFR adjustable-rate mortgage was 6.96%, 64 basis points below the 30-year fixed. Compared with their 52-week lows, the products were 1.17 to 1.42 percentage points higher.
With the 30-year average near a 52-week high, prospective homebuyers may face larger monthly payments, while homeowners considering refinancing could find fewer worthwhile options. Sellers might see reduced buyer traffic if affordability pressures persist. Adjustable-rate products, including the 7/6 SOFR ARM, could appeal to some borrowers seeking a lower initial rate, though they carry future payment uncertainty. These dynamics may weigh on housing activity and household budgets, especially for first-time and lower-income buyers.