The week's rise in mortgage rates added $67.58 to monthly principal and interest on a hypothetical $400,000 loan over 30 years. Freddie Mac's weekly survey average reached 7.28% for the week ending October 1, up from 7.03% a week earlier and its highest since November 2023. Holding the loan amount and term constant, the illustrative payment rose from $2,669.27 to $2,736.85. The illustration excludes taxes, insurance, mortgage insurance, points, fees and closing costs.
That higher weekly average was also below most of the advertised 30-year fixed rates in RateZip's final observations for September 28 through October 2. On October 2, five of the six tracked lenders in that category posted interest rates above 7.28%, ranging from U.S. Bank's 7.49% to Wells Fargo's 7.625%. AmeriSave's 6.375% was below the average, with a posted APR of 6.851%. These are lender advertisements from the day after the survey period ended, not matched offers: credit, points, fees, loan size and eligibility differ. The survey figure is an interest-rate average, not an APR or a personal quote. RateZip's stored observations also show that five of those six lenders raised their posted 30-year fixed rates between September 28 and October 2; Bank of America's was unchanged.
The amount a buyer needs to finance matters alongside the rate. In its September 29 House Price Index release, the Federal Housing Finance Agency reported a seasonally adjusted 0.3% increase in U.S. house prices in July from June, and a 2.6% increase from July 2025 to July 2026. The payment illustration holds the loan amount fixed; the FHFA figures show that house prices were still rising as of July. They describe an earlier period than this week's rates. The national figure also concealed regional differences: July prices fell 0.8% from June in the Mountain division and rose 1.5% in the Middle Atlantic division. Both were higher than a year earlier, with annual gains of 0.6% and 6.3%, respectively. The direction of the latest monthly price move depended on the region.
Financing costs can also affect the homes buyers have to choose from, according to Serrater Chapman, director of applied research at the Woodstock Institute, in WTTW's September 29 report. Chapman expected higher housing payments for new buyers and fewer owners willing to sell when another purchase would mean taking on costlier financing.
Chapman's concern extended beyond qualifying for a mortgage. She told WTTW that buyers who managed to purchase could still lack the money to maintain their homes, describing a broken furnace as an example of the expense that could leave them stretched. The same report pointed to pressure on new construction. David Doig, president of Chicago Neighborhood Initiatives, said borrowing had become more expensive alongside rising commodity and labor costs. In his account, those construction costs widen the gap between what a home costs to build and what buyers can afford to pay.
Realtor.com senior economist Hannah Jones, quoted by Fox Business on October 1, put the weekly increase in a longer frame: "The 30-year mortgage rate has risen nearly a full percentage point over the past year, dramatically affecting buyer budgets."
Posted mortgage rates: September 28–October 2, 2026
| Lender | 30-Yr | 15-Yr | 20-Yr | FHA 30-Yr | VA 30-Yr | Jumbo 30-Yr | 7/6 ARM | HELOC |
|---|---|---|---|---|---|---|---|---|
| AmeriSave | 6.375% / 6.851% (+0.125) | 5.375% / 6.249% | — | — | — | — | — | — |
| New American Funding | 7.5% / 7.599% (+0.75) | 7% / 7.195% (+0.875) | — | 7.25% / 8.305% (+1) | 7.25% / 7.708% (+0.875) | — | — | — |
| Rocket Mortgage | 7.5% / 7.806% (+0.125) | 6.75% / 7.222% (+0.125) | — | — | — | — | — | — |
| Wells Fargo | 7.625% / 7.767% (+0.25) | 6.75% / 7.031% (+0.125) | — | — | 6.875% / 7.1% (+0.125) | — | 7.125% / 6.978% (+0.25) | — |
| U.S. Bank | 7.49% / 7.637% (+0.115) | 6.875% / 7.134% (+0.125) | 7.375% / 7.598% (+0.125) | 7.75% / 8.714% (+0.5) | 7.25% / 7.635% (+0.125) | 7.5% / 7.679% (+0.125) | 7.25% / 7.12% (−0.125) | — |
| Bank of America | 7.5% / 7.725% | 6.625% / 6.993% (−0.125) | 7.375% / 7.683% (−0.125) | — | — | — | 6.75% / 6.847% (+0.125) | — |
| Veterans United | — | — | — | — | 6.875% / 7.334% | — | — | — |
| FourLeaf Federal Credit Union | — | — | — | — | — | — | — | 7% / 7% |
Table source: RateZip's stored lender-posted rate observations. Each cell shows the lender's final posted rate / APR of the week. Parentheses show the change from its first to last reading that week; a dash means no stored observation for that product in this reporting week. These advertised rates use different credit, points and loan-size assumptions and are not personalized offers. See 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.