US 30-year fixed mortgage rate rose 1bp to 7.50% in the week ended Oct. 9, the highest since Nov. 2023, the Mortgage Bankers Association said Wednesday. The rate has climbed nearly 100bps since end-June. MBA’s purchase index fell 4% in the week, marking a sixth straight weekly decline and the longest run of drops since July–August 2023. Existing-home sales data from the National Association of Realtors showed a slight increase but reflect closed deals signed before the recent surge in borrowing costs. NAR chief economist Lawrence Yun said higher rates mean Q4 home closings are likely to decline and could fall sharply. 14-OCT-2026 07:20 AM ET