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US Mortgage Rates Reach 7.28 Percent Following Federal Reserve Action

Average rates for 30-year fixed mortgages climbed to a three-year high of 7.28 percent, according to Freddie Mac survey data.

FTMQ Real Estate, written by our newsroom0 views

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Picture: RISMedia

Average interest rates for a 30-year fixed-rate mortgage reached 7.28 percent, according to data from Freddie Mac reported by RISMedia and The World Property Journal. Deseret News and RISMedia both reported that mortgage rates have climbed to a three-year high. [1][8][11]

RISMedia reported that the recent interest rate increase by the Federal Reserve is expected to impact the broader real estate market. The rate surpassed peak levels seen in previous weeks, creating new adjustments for buyers and sellers across the industry. [1]

Coverage from Redfin News noted that a soft jobs report for September could provide the Federal Reserve reason to pause future rate hikes. Redfin News added that this labor data may help slow the upward trajectory of borrowing costs. [6]

An adjustable-rate mortgage features an interest rate that is periodically adjusted based on an index reflecting lender borrowing costs. Adjustable-rate loans can be tied to underlying market indices or altered at the discretion of the lender. [13]

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In short

  • The 30-year fixed-rate mortgage averaged 7.28 percent according to Freddie Mac data.
  • Mortgage rates hit a three-year high following a Federal Reserve rate increase.
  • Redfin News noted a soft September jobs report could slow future Federal Reserve rate hikes.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

  1. [1]Mortgage Rates Hit 3-Year High; Economists Foresee Stalling MarketRISMedia, 2d ago (the report this story comes from)
  2. [2]How Investors May Respond To Freddie Mac Stock As 30 Year Mortgage Rates RiseSimply Wall Street, 1d ago
  3. [3]U.S. Treasury Yields Surge to 24-Year High Amid Global Selloffazat.tv, 1d ago
  4. [4]Richmond Home Prices Rise Even as More Homes Hit the Marketrealtor.com, 1d ago
  5. [5]Nike (NYSE: NKE) Earnings, Mortgage Rates, And Jobless Claims Take Center Stage On October 1foreignpolicyjournal.com, 2d ago
  6. [6]Soft September Jobs Report May Give Fed Reason to Pause Rate Hikes, Slowing Ascent of Mortgage RatesRedfin News, 2d ago
  7. [7]UK Mortgage Rates Hit Three-Year High as Bond Rout Pushes Borrowing Costs UpShare Talk, 3d ago
  8. [8]Mortgage rates just hit a 3-year highDeseret News, 2d ago
  9. [9]Mortgage Rates Today: October 2, 2026 – 30-Year Rate Hits One-Year HighForbes, 2d ago
  10. [10]Mortgage Rates Keep Climbing, Leading Some Buyers to Riskier LoansThe New York Times, 3d ago
  11. [11]U.S. Mortgage Rates Hit 7.28 Percent in October, a 3-Year HighThe World Property Journal, 2d ago

Background

  1. [12]2008–2009 Keynesian resurgence on Wikipedia
  2. [13]Adjustable-rate mortgage on Wikipedia
  3. [14]Polynesian Football Player of the Year Award on Wikipedia

Our newsroom writes these reports with the help of software, from the 14 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

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