10/13/2026
Mortgage interest rates currently range from 6.73% to 7.40%, according to Freddie Mac. As of October 8, 2026, the average rate was 6.73% for a 15-year fixed mortgage and 7.40% for a 30-year fixed mortgage. At the same time last year, rates were generally between 5% and 6%. Although today’s rates may feel high, they are well below the levels seen in the early 1980s. For instance, on April 18, 1980, the average rate for a 30-year fixed mortgage was 16.35%—nearly 10 percentage points higher than today. Current projections suggest mortgage rates will remain near 7% through the end of the year.
As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate and getting multiple quotes can potentially save them thousands over the loan’s lifetime.