Thirty-Year Mortgage Rate Slips to 7.48% as Other Loan Costs Ease
US mortgage rates on October 9, 2026 showed the 30-year fixed at 7.48%, down 0.02 percentage point from the prior day and 0.09 point from a week earlier. The 15-year fixed stood at 7.15%, while most mortgage products eased by 1 to 2 basis points and the 7/6 SOFR ARM dropped 5 basis points. Rates remained near 52-week highs and were roughly 1.1 to 1.3 percentage points higher than a year ago.
On October 9, 2026, the average 30-year fixed mortgage rate was 7.48%, two basis points lower than the previous day and nine basis points below a week earlier. The 15-year fixed rate was 7.15%. Most loan categories moved down by one to two basis points, while the 7/6 SOFR adjustable-rate mortgage fell five basis points to 6.90%.
These levels remained close to their 52-week peaks. Compared with a year earlier, rates across products were about 1.1 to 1.3 percentage points higher. The 30-year jumbo rate was 7.63%, near its 7.71% high, and the gap between the 30-year fixed and the ARM was 73 basis points.
Prospective homebuyers and homeowners considering refinancing may feel affordability pressure because rates remain near 52-week highs and above year-ago levels. Monthly payments could stay elevated, potentially limiting purchasing power and keeping some sellers and buyers on the sidelines. Borrowers choosing adjustable-rate loans might see near-term savings due to the 73-basis-point spread, though future rate changes could alter that calculation. Real estate agents, lenders, and construction-related businesses may also see demand shaped by these costs.