Freddie Mac put the average US 30-year mortgage rate at 7.03% on Sept. 24, up 8 basis points in a week and 73 basis points year over year. Fannie Mae projects 6.8% by the end of 2026, with rates staying close to that through 2027.
The average 15-year fixed rate was 6.42%, up 16 basis points from the previous week. Mortgage rates track the 10-year Treasury yield, which stood at 5.12% in the article. Analyst Rob Chrisman cited a broad bond selloff, inflation and deficit concerns, possible further Fed tightening, and higher oil futures amid little progress on the Middle East conflict.
Mortgage costs are only one part of affordability: the article says buyers outnumber homes for sale, particularly in price ranges accessible to first-time buyers. Federal Reserve Bank of St. Louis data cited in the report put the median single-family home sale price at $410,700 in Q2 2026, compared with $208,400 in Q1 2009.
