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Lakeville Real Estate

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Mortgage Rates Average 7.40%

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October 8, 2026

As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate and getting multiple quotes can potentially save them thousands over the loan’s lifetime.

  • The 30-year fixed-rate mortgage averaged 7.40% as of October 8, 2026, up from last week when it averaged 7.28%. A year ago at this time, the 30-year FRM averaged 6.30%.
  • The 15-year fixed-rate mortgage averaged 6.73%, up from last week when it averaged 6.60%. A year ago at this time, the 15-year FRM averaged 5.53%.

Information provided by Freddie Mac.

Weekly Market Report

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For Week Ending September 26, 2026

The 30-year fixed-rate mortgage averaged 7.28% as of October 1, up from 7.03% a week earlier and 6.34% a year ago, according to Freddie Mac. The 15-year fixed rate mortgage averaged 6.60%, up from 6.42% the prior week. For active buyers, an updated payment estimate can show how the latest rate change affects their monthly principal-and-interest payment.

In the Twin Cities region, for the week ending September 26:

  • New Listings increased 11.8% to 1,467
  • Pending Sales decreased 14.9% to 748
  • Inventory increased 11.0% to 12,460

For the month of August:

  • Median Sales Price increased 1.0% to $404,000
  • Days on Market increased 7.1% to 45
  • Percent of Original List Price Received decreased 0.6% to 98.2%
  • Months Supply of Homes For Sale increased 10.7% to 3.1

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Mortgage Rates Average 7.28%

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October 1, 2026

With mortgage rates on their current trajectory, the housing market continues to be supported by favorable economic conditions.

  • The 30-year fixed-rate mortgage averaged 7.28% as of October 1, 2026, up from last week when it averaged 7.03%. A year ago at this time, the 30-year FRM averaged 6.34%.
  • The 15-year fixed-rate mortgage averaged 6.60%, up from last week when it averaged 6.42%. A year ago at this time, the 15-year FRM averaged 5.55%.

Information provided by Freddie Mac.

Mortgage Rates Average 7.03%

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September 24, 2026

The housing market remains supported by a solid labor market and an economy that is growing at a healthy rate.

  • The 30-year fixed-rate mortgage averaged 7.03% as of September 24, 2026, up from last week when it averaged 6.95%. A year ago at this time, the 30-year FRM averaged 6.30%.
  • The 15-year fixed-rate mortgage averaged 6.42%, up from last week when it averaged 6.26%. A year ago at this time, the 15-year FRM averaged 5.49%.

Information provided by Freddie Mac.