Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Average 30-Year Mortgage APR Tops 7.00% at 7.175%
The average APR on a 30-year fixed mortgage topped 7.00% this week at 7.175%, after ending last week at 6.995%. The average 30-year note rate rose 0.174 points to 6.983%, and all nine averages we track rose for a second straight week.
Average home loan rates rose on all nine products we track for a second straight week. Measured by APR, which includes points and lender fees, the 30-year average topped 7.00% at 7.175%, after ending last week at 6.995%. 30-year mortgage rates rose 0.174 points to 6.983% and 15-year fixed mortgage rates rose 0.162 points to 6.518%. FHA and VA mortgage rates rose more than 0.2 points each, the largest changes of the nine. The 30-year average has risen in every September report, 0.438 points in total. In a MonitorBankRates reader survey taken September 16 to 23, 77% of readers answering on our home loan pages said they are putting off buying a home.
Key takeaways
- The average 30-year APR topped 7.00% at 7.175%; the average note rate rose 0.174 points to 6.983%, a seventh straight increase that adds about $47 a month to the payment on a $400,000 loan.
- All nine averages rose for a second straight week; FHA rates rose 0.233 points to 6.756% and VA rates 0.234 points to 6.823%, the largest changes of the nine.
- The 30-year average has risen in every September report, from 6.545% on September 8 to 6.983%, adding about $117 a month on a $400,000 loan over that stretch.
- The 10-year Treasury yield closed at 5.17% on September 25, up from 5.01% on the day of the Fed's September 16 rate increase; fixed mortgage rates are priced from long-term Treasury yields.
- In our September 16 to 23 reader survey, 77% of readers answering on home loan pages, 98 of 127 votes, said they are putting off buying a home.
The average 30-year APR moved above 7.00%
Conventional mortgage rates, national average APR since late March
Average APRs from MonitorBankRates.com's nightly collection, updated daily. The figures in the text and table below are average note rates, which run below APR.
30-year mortgage rates rose 0.174 points to 6.983%, their seventh straight increase in our reports and the largest of the seven; each September report's increase has been larger than the one before. Since our September 8 report the average has risen 0.438 points, from 6.545% to 6.983%. 15-year fixed mortgage rates rose 0.162 points to 6.518%. In payment terms, this week's move added about $47 a month to principal and interest on a $400,000 30-year loan, and the September increases have added about $117 a month combined. Measured by APR, which includes points and lender fees, the 30-year average stands at 7.175%; FHA loans average 7.464% APR, 30-year jumbo loans 7.208%, and VA loans 7.120%, all above 7.00% as well.
Adjustable-rate averages rose as well. 5/1 ARM rates added 0.133 points to 6.195%, 7/1 ARM rates rose 0.115 points to 6.346%, and 3/1 ARM rates rose 0.052 points to 5.919%, now the lowest average we track. The 3/1 ARM figure comes from the smallest ARM pool we track, 58 lenders this week.
FHA and VA rates rose more than 0.2 points
30-year jumbo mortgage rates rose 0.198 points to 7.108%, the only note-rate average above 7%, and 15-year jumbo rates rose 0.170 points to 6.624%. Jumbo averages come from the smallest lender pools we track, 48 lenders for the 30-year and 27 for the 15-year this week.
Jumbo and FHA rates, national average APR since late March
Average APRs from the nightly collection. VA loans are omitted from this chart pending a data-quality fix in the nightly series; the VA table figures below are verified.
VA mortgage rates rose 0.234 points to 6.823% and FHA mortgage rates 0.233 points to 6.756%, the largest changes of the nine products this week. The rate an individual borrower gets depends on the lender and the loan file as well as the program. Buyers comparing local offers can line up North Carolina mortgage rates against these national averages.
Weekly change by loan type (percentage points)
Average note rates, September 21 to September 28. Red bars rose.
Mortgage rates this week: September 21 vs. September 28
| Loan Product | September 21 Avg | September 28 Avg | Weekly Change |
|---|---|---|---|
| Conventional Fixed-Rate Mortgages | |||
| 30-Year Fixed ▲ | 6.809% | 6.983% | ▲ +0.174 |
| 15-Year Fixed ▲ | 6.356% | 6.518% | ▲ +0.162 |
| Conventional Adjustable-Rate Mortgages (ARM) | |||
| 3/1 Conventional ARM ▲ | 5.867% | 5.919% | ▲ +0.052 |
| 5/1 Conventional ARM ▲ | 6.062% | 6.195% | ▲ +0.133 |
| 7/1 Conventional ARM ▲ | 6.231% | 6.346% | ▲ +0.115 |
| Jumbo Fixed-Rate Mortgages (Above Conforming Limits) | |||
| 30-Year Jumbo ▲ | 6.910% | 7.108% | ▲ +0.198 |
| 15-Year Jumbo ▲ | 6.454% | 6.624% | ▲ +0.170 |
| Government-Backed Loans | |||
| FHA Loans ▲ | 6.523% | 6.756% | ▲ +0.233 |
| VA Loans ▲ | 6.589% | 6.823% | ▲ +0.234 |
| Product-specific rate pages: 30-year fixed · 5/1 ARM · FHA loans · all loan types | |||
| All rates are national averages of what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates or teaser rates. Rates are not APR. This week's comparison runs September 21 to September 28. Source: MonitorBankRates.com. | |||
Mortgage rates have risen in every September report
The 30-year note-rate average has risen in every September report: 6.545% on September 8, 6.671% on September 14, 6.809% on September 21, and 6.983% in this report, with each increase larger than the one before. Fixed mortgage rates are priced from long-term Treasury yields rather than from the Federal Reserve's benchmark, and those yields have kept rising: the 10-year Treasury yield stood near 4.8% in the first week of September, crossed 5% on September 14, traded at 5.01% on the day of the Fed's September 16 rate increase, and closed at 5.17% on September 25. The benchmark rate has been 3.75% to 4.00% since September 16, and the daily series on our mortgage rate trends page shows the same climb through the month.
The monthly payment on $400,000 at 6.983%
At 6.983%, principal and interest on a $400,000 30-year loan run about $2,657 a month, up roughly $47 from last week's average and about $117 from the September 8 average. Our mortgage calculator works from this same live data: its example recalculates from the current MonitorBankRates average every time the page loads, drawing on rates published by more than 8,000 banks and credit unions. State versions of the calculator come prefilled with that state's average rate, median home value, property taxes, and homeowners insurance; the California mortgage calculator and the Texas mortgage calculator load those states' figures. The rent vs buy calculator starts from today's live average and Census-based home values for your state and finds the year buying breaks even against renting.
Lenders require proof of insurance at closing
Lenders require proof of homeowners insurance at closing, and the premium is part of the monthly payment alongside principal, interest, and property taxes. Our MBR Home Insurance Burden Index ranks all 50 states by how heavily insurance weighs on homeowners, and North Carolina buyers can compare carriers in our North Carolina homeowners insurance guide.
The bottom line on mortgage rates this week
All nine mortgage averages rose for a second straight week. The average 30-year APR stands at 7.175%, above 7.00%, with the note-rate average at 6.983% and 15-year fixed rates at 6.518%. Behind the 6.983% average, 30-year offers in our data run from 4.990% to 9.625%, and the rate any borrower is quoted depends on the lender, the loan file, and the property.
Data Coverage & Methodology
All averages in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed institutions are actually quoting to borrowers, not published rate sheet estimates or teaser rates.
As of September 28, 2026, these averages were calculated from 2,860 individual rates verified across all 9 loan types; the latest collection ran September 28, 2026. The table below shows how many lenders reported rates for each loan type.
| Loan Type | Institutions | Rates Verified |
|---|---|---|
| 30-Year Fixed | 377 | 736 |
| 15-Year Fixed | 351 | 560 |
| 3/1 Conventional ARM | 58 | 76 |
| 5/1 Conventional ARM | 307 | 847 |
| 7/1 Conventional ARM | 169 | 270 |
| 30-Year Jumbo | 48 | 66 |
| 15-Year Jumbo | 27 | 35 |
| FHA Loans | 89 | 141 |
| VA Loans | 81 | 129 |
| Total | 2,860 |
This report is for general information and is not financial advice. The rate any borrower receives depends on their credit profile, location, loan size, and points paid; confirm current pricing with lenders before making decisions.
