Real Estate

Mortgage Rates Start the Week Near 7.5%: What Buyers Do

  • by- Grihik
  • Oct 6, 2026
Bankrate shows 7.49% for a 30-year mortgage on Oct 5 while Freddie Mac sits at 7.28%. See what the gap costs and how to shop.
Mortgage Rates Start the Week Near 7.5%: What Buyers Do

New Delhi: The 30-year fixed mortgage rate averaged 7.49% on Monday, October 5, according to Bankrate, up 0.16 points from a week earlier. The 15-year averaged 6.78%.

Where other trackers stand

  • Freddie Mac (Oct 1): 7.28%, the highest since late 2023

  • Bankrate weekly survey (Oct 1): 7.38%, the highest since May 2024

  • NerdWallet (Oct 5, midday): 7.35% APR for a 30-year fixed, down 0.02 from a week ago

  • MortgageDaily / Optimal Blue (Oct 2): 7.38%, close to the top of the past month's range of 6.66% to 7.39%

They differ because they measure different things, such as weekly averages, lender surveys and marketplace quotes. The direction is the same: rates are high.

 

What it costs

On a $300,000 loan, principal and interest comes to about $2,095 a month at 7.49%, against about $1,865 at 6.34%, the rate Freddie Mac reported a year ago. That is roughly $230 a month, or about $2,760 a year (our calculation).