09/15/2026
Rates moved a little higher week.
The average 30-year fixed conventional mortgage is currently around 7.17%, which would put principal and interest at approximately $2,368 per month on a $350,000 loan.
Keep in mind, these are averages.
Your actual rate and payment can vary based on credit score, down payment, loan amount, loan program, and other factors.
When the Federal Reserve raises rates, it doesn't automatically mean mortgage rates will rise too.
The Fed controls a short-term interest rate, while mortgage rates are influenced more by longer-term economic expectations-especially inflation and what the Fed signals may happen next.
If the Fed indicates inflation is cooling and future rate increases may be less likely, mortgage rates can actually move lower, even after a Fed rate hike. On the other hand, if the Fed signals more increases could be coming, mortgage rates may rise.
Mortgage rates often react to expectations about what's coming next-not just what the Fed does today.
Thinking about buying or refinancing? Reach out and let's look at the numbers for your specific situation.
Traci Tucker
REALTOR/Mortgage Loan Originator
NMLS # 2336673
📲520-858-5633
