30-year fixed mortgage

The average 30-year fixed mortgage rate opened the week of September 28 at 7.30%, according to a daily rate update from Norada Real Estate Investments. Rates remain elevated near multi-decade highs, keeping affordability strained for buyers and prompting ongoing debate about how long borrowing costs will stay this high.

Mortgage refinance rates increased on September 28, 2026, according to Forbes' daily rate tracking. The uptick means homeowners considering refinancing may face slightly higher borrowing costs than in recent days. Lenders' 30-year fixed and other refinance products are being watched closely by borrowers deciding whether to lock in now or wait for rates to ease.

Mortgage lenders allow retirees to gross up Social Security income: a $3,000 monthly check can be counted as $3,113 because it is tax-free income. With 30-year mortgage rates climbing back above 7%, that extra qualifying income matters more, since higher rates shrink how much house a borrower can afford. Financial writers are highlighting the gross-up rule as a way retirees on fixed incomes can maximize their borrowing power despite expensive borrowing conditions.

Mortgage quotes for 15-year fixed loans held firm on Wednesday, September 30, with rates staying near 6.7%. The steady reading means borrowers refinancing or buying a home continue to face payments well above the lows of recent years. Commentators note that without a clear drop in bond yields or Federal Reserve signals, rates are likely to remain rangebound in the near term.