FX.co ★ US Mortgage Rates Climb to Highest Since 2023

The US 30-year fixed-rate mortgage averaged 7.4% as of October 8, 2026, climbing further above 7% to its highest level since November 2023 and up from 7.28% the previous week. This was the seventh straight week of increases, driven by an intensifying bond market selloff amid expectations that interest rates will remain elevated for longer. Those expectations have pushed 10-year Treasury yields to their highest levels in decades. Because mortgage rates tend to closely track these benchmark government yields, borrowing costs for homebuyers have continued to rise. A year earlier, the 30-year fixed-rate mortgage averaged 6.3%. Meanwhile, the 15-year fixed-rate mortgage rose to 6.73%, its highest level since May 2024, up from 6.6% a week earlier.