The 7% Mortgage Rate Meets Rising Home Supply This Fall
Mortgage rates finished last week at their highest level since the start of 2025. Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed at 7.03% for the week ended September 24, up from 6.65% in late August and the first print above 7% since January 2025. The cheapest financing of the year, 5.98% in the week of February 26, lasted one season, and the payment on the same house is now $227 a month higher because of it.
Key Takeaways Freddie Mac's 30-year fixed hit 7.03% for the week of September 24, the first print above 7% since January 2025. The payment on a $410,700 median-priced home with 20% down is $2,193 a month at 7.03%, versus $2,034 a year ago at 6.30%. The Case-Shiller n…
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