Homebuyers faced a fresh inflation surprise Wednesday morning with the latest national 30-year mortgage average already at its highest level since November 2023. Consumer prices rose 3.7% over the year through September, up from 3.4% in August, the Bureau of Labor Statistics said in its 8:30 a.m. ET release on October 14. Prices increased 0.6% for the month, after rising 0.4% in August.
The Associated Press reported that annual inflation exceeded the 3.6% economists had expected and that worsening inflation weighed on stocks. In its 10:30 a.m. ET snapshot, the S&P 500 was down 0.6% and the Nasdaq composite was down 0.9%.
The AP also reported rising bond yields after the release, adding pressure to stocks. The mortgage measures that follow, an earlier survey week and a single lender snapshot, cannot show whether mortgage pricing moved in response.
A high mortgage benchmark predates today's inflation news
The average 30-year fixed mortgage rate was 7.40% in the week ending October 8, up from 7.28% a week earlier, according to Freddie Mac's weekly survey. RateZip's October 14 lender-posted 30-year fixed rates ranged from AmeriSave's 6.25% to 7.5% at Rocket Mortgage, Bank of America and New American Funding, spanning both sides of the national average.
Chart: RateZip · Source: lender-posted rates tracked daily by RateZip.
For a buyer budgeting the same loan amount, the survey's weekly increase illustrates a higher principal-and-interest bill. On a hypothetical $400,000 30-year fixed loan, monthly principal and interest comes to $2,769.52 at 7.40%, versus $2,736.85 at 7.28%: $32.67 more each month. This is an illustration, not an actual borrower or offer. It excludes taxes, insurance, mortgage insurance, points, fees and closing costs.
What the posted rates show
RateZip's lender observations are a 9:50 a.m. ET October 14 snapshot. The advertisements use different assumptions about credit, points, fees, loan size and eligibility, so they are not matched offers or verified savings for the same borrower.
For homebuyers comparing those advertisements, the headline interest rate is only part of the borrowing-cost picture. AmeriSave's posted 30-year fixed APR was 6.793%, while Rocket Mortgage's was 7.793%, each above that lender's interest rate. Comparing each posted rate with its APR gives a fuller picture of the advertised borrowing costs.
Today's posted rates: the full table
| Lender | 30-Yr | 15-Yr | 20-Yr | FHA 30-Yr | VA 30-Yr | Jumbo 30-Yr | 7/6 ARM | HELOC |
|---|---|---|---|---|---|---|---|---|
| AmeriSave | 6.25% / 6.793% (−0.125) | 5.375% / 6.201% | — | — | — | — | — | — |
| New American Funding | 7.5% / 7.599% | 7% / 7.195% | — | 7.25% / 8.305% | 7.25% / 7.708% | — | — | — |
| Rocket Mortgage | 7.5% / 7.793% | 6.625% / 7.116% (−0.125) | — | — | — | — | — | — |
| Wells Fargo | 7.375% / 7.553% (−0.125) | 6.625% / 6.903% (−0.125) | — | — | 6.875% / 7.087% | — | 6.75% / 6.862% | — |
| U.S. Bank | 7.375% / 7.532% | 6.875% / 7.123% (+0.125) | 7.125% / 7.322% (−0.125) | 7.625% / 8.537% | 7.125% / 7.531% (−0.125) | 7.5% / 7.663% | 7.25% / 7.152% | — |
| Bank of America | 7.5% / 7.751% (−0.125) | 6.875% / 7.237% (+0.125) | 7.25% / 7.564% | — | — | — | 6.75% / 6.911% | — |
| Veterans United | — | — | — | — | 6.75% / 7.23% | — | — | — |
| FourLeaf Federal Credit Union | — | — | — | — | — | — | — | 7% / 7% |
Table source: RateZip's stored lender-posted rate observations. Rates are each lender's own published rate as of 9:50 a.m. ET, collected from their public rate pages and feeds. A figure in parentheses is today's change; a '—' means the lender doesn't post that product. How we collect and publish this: our rate methodology.
For closed-end mortgages, APR includes interest and certain loan charges; HELOC APR excludes fees. Adjustable-rate APR is not a maximum future rate. See the CFPB explanation.
National mortgage-rate benchmark cited in this article. Source: Freddie Mac Primary Mortgage Market Survey via FRED®, Federal Reserve Bank of St. Louis.
RateZip is operated by Peklava LLC, DBA RateZip, a licensed mortgage broker (NMLS ID 1592292). We are compensated by some of the partners shown, which may affect which offers appear and where. It does not affect our reporting or recommendations. See our editorial standards.