30-Year Fixed-Rate Mortgage Surges To 7.49%
WRE News October 7, 2023
Buyer
WRE News October 7, 2023
Buyer
The 30-year fixed-rate mortgage spiked again, averaging 7.49% as of Oct. 5, according to new data from Freddie Mac (OTCQB: FMCC). This is up from last week when it averaged 7.31%. A year ago at this time, it averaged 6.66%.
“Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed,” said Sam Khater, Freddie Mac’s chief economist. “Several factors, including shifts in inflation, the job market, and uncertainty around the Federal Reserve’s next move, are contributing to the highest mortgage rates in a generation. Unsurprisingly, this is pulling back homebuyer demand.
Freddie Mac also reported the 15-year fixed-rate mortgage averaged 6.78%, up from last week when it averaged 6.72%. A year ago at this time, it averaged 5.90%.
Stay up to date on the latest real estate trends.
December 4, 2025
Buyer
December 2, 2025
Focus on homes that have been sitting on the market for a while.
Seller
November 28, 2025
When the holidays roll around, travel plans, family gatherings, and all the chaos of the season may make you think it’s better to pull your listing off the market or t… Read more
November 21, 2025
Buyer
November 21, 2025
Homebuyers are watching the economy closely, and for good reason.
Seller
November 21, 2025
Here’s something you should know before you sell your house.
We Guide Homeowners through the complicated process of selling their home using our 4 Phase Selling Process and 3 Prong Marketing Strategy that alleviates their stress and moves them effortlessly to their next destination. Schedule a 15 Minute Complimentary Strategy Session Today