Average 30 year US mortgage rate falls to 7.24 percent

The average benchmark 30-year fixed-rate US mortgage fell to 7.24 percent this week from 7.32 percent last week, Hays Post reported. Mortgage buyer Freddie Mac released the figures, marking a second consecutive weekly decline to the lowest rate level in more than a month. One year ago, the average 30-year rate stood at 6.17 percent. [1]

Borrowing costs on 15-year fixed-rate mortgages also decreased this week, Hays Post reported. The 15-year fixed-rate average dipped to 6.60 percent from 6.68 percent the previous week. One year prior, the 15-year rate averaged 5.41 percent. These loans are frequently selected by homeowners who seek to refinance existing home mortgages. [1]

Lower borrowing costs provide relief to prospective homebuyers who face higher financing costs on home loans, Hays Post reported. Mortgage rates remain influenced by factors including inflation and decisions made by the Federal Reserve. [1]

The rate drop follows earlier market trends where home investor profitability experienced compression. As FTMQ Real Estate reported earlier, typical gross returns on United States home flips dropped to 21.5 percent in the second quarter of 2026, down from 27.6 percent one year prior. [7]