US 30-Year Mortgage Rates Fall to a Month-long Low of 7.24%

WHO:

NY Post - Freddie Mac reported the benchmark 30-year fixed-rate mortgage figure.

ABC News - Mortgage buyer Freddie Mac reported average U.S. mortgage rates.

WHAT:

NY Post - The benchmark 30-year fixed-rate mortgage rate fell to 7.24%, down from 7.32% the previous week.

ABC News - The average long-term U.S. mortgage rate declined for a second consecutive week, reaching its lowest level in more than a month.

ABC News - The 30-year fixed-rate mortgage averaged 7.24%, compared with 7.32% the previous week; one year earlier, it was 6.17%.

ABC News - The average rate for 15-year fixed-rate mortgages fell to 6.60% from 6.68% the previous week; one year earlier, it was 5.41%.

ABC News - The 10-year Treasury yield was 4.98% at midday. It had risen above 5.30% earlier in the month and was 3.97% before the war with Iran.

WHERE:

ABC News - The report was filed from Washington.

WHY:

ABC News - Mortgage rates are influenced by inflation, Federal Reserve policy, and bond-market investors’ expectations for the economy, among other factors.

HOW:

ABC News - Mortgage rates generally track the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

(UPDATED October 29, 2026 17:07 UTC)

Freddie Mac says the average 30-year fixed mortgage rate fell to 7.24% from 7.32% the previous week, marking a second straight weekly decline and its lowest level in more than a month. The average 15-year fixed rate also slipped, to 6.60% from 6.68%. Mortgage rates generally track the 10-year Treasury yield, which stood at 4.98% at midday, and are influenced by inflation, Federal Reserve policy and investors’ expectations for the economy.