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30-year fixed · Sep 24, 2026

7.03%

+0.08

vs last week

A year ago

6.3%

Sep 24, 2025

All-time peak

16.64%

in 1981

Long-run average

7.7%

1971–2025

30-year15-year

All25y10y

When would rates drop?

Mortgage rates track the 10-year Treasury yield. Big drops historically needed one of these catalysts

A recession

Credit demand falls and investors move into Treasuries, pushing yields down

Aggressive Fed intervention

Rate cuts plus buying bonds and mortgage-backed securities force borrowing costs down

Inflation cooling fast

Lenders need less premium over inflation, so yields and mortgage rates ease

A global flight to safety

Shocks send capital into U.S. debt markets, pulling yields down quickly

It has happened before

30-year fixed rate, Freddie Mac weekly averages.

2008 financial crisis

Housing collapse, recession, then Fed bond buying from late 2008

6.5%

Mid 2007

<5%

Early 2009

2020 pandemic

Emergency cuts to zero and large purchases of Treasuries and mortgage bonds

3.7%

Jan 2020

2.65%

Jan 2021

Source: Freddie Mac PMMS via FRED. Past moves are context, not a forecast. Market information, not lending advice.

Local Realty Service Provided By: Hyperlocal Advisor. Information deemed reliable but not guaranteed. Information is provided, in part, by Greater Miami MLS & Beaches MLS. This information being provided is for consumer's personal, non-commercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing.