- The 30-year fixed rate averaged 7.24% the week of October 29, 2026, down from 7.32% the week before, according to Freddie Mac.
- Rates crossed 7% on September 24 for the first time since January 2025.
- On a $365,000 Tucson home with 10% down, estimated principal and interest is about $2,239 a month at 7.24%, compared with about $1,965 at February's 5.98% low.
Mortgage rates have climbed most of the fall. Freddie Mac’s weekly survey put the average 30-year fixed rate at 7.24% for the week of October 29, 2026. That’s the second weekly drop in a row, down from 7.32% the week before and 7.40% two weeks before that, but still well above where the year started.
For context, the 30-year average sat at 5.98% in late February, its low point this year. It passed 7% on September 24, the first time it had been that high since January 2025. A year earlier, the week of October 23, 2025, it was 6.19%.
What it does to a Tucson payment
Here’s an estimate for a home at September’s median sale price of $365,000, with 10% down and a 30-year fixed loan of $328,500. These are estimated principal and interest payments only, before property taxes, insurance and any HOA.
| 30-year rate | Estimated monthly principal and interest |
|---|---|
| 5.98% (Feb. 26, 2026) | $1,965 |
| 6.19% (Oct. 23, 2025) | $2,010 |
| 7.24% (Oct. 29, 2026) | $2,239 |
That’s about $275 a month more than at February’s low, and about $230 more than a year ago. Over twelve months, the difference against February comes to roughly $3,300.
These are estimates, not a loan quote. Your actual rate, monthly payment and loan terms come from your lender and depend on your credit, down payment, loan type and fees.
What I’d do if you’re buying
- Get pre-approved now. It shows you the payment at today’s rates, not last spring’s. Text me and I’ll introduce you to Alex Alvarez, the local lender I trust. Here’s how pre-approval works.
- Use a lender who picks up the phone. When a rate or paperwork question comes up the week of closing, a local lender is a quick call away. Alex will stay with you from pre-approval to the keys.
- Ask about seller help. With 5.0 months of supply across the MLS in September, the market isn’t rushing buyers. It’s reasonable to ask for a seller-paid rate buydown or a closing cost credit, which can lower your payment more than a small price cut.
- Watch the weekly number. Freddie Mac publishes a new average every Thursday, and I’ll keep posting what it means here.
If you’re selling
Higher payments shrink some buyers’ budgets. Pricing right from day one matters more when buyers are watching every dollar, and offering help with a buyer’s rate can widen your pool. If you’d like to see how your home compares with what’s selling now, text me.
Sources
- Primary Mortgage Market Survey, Freddie Mac (Oct. 22, 2026)
- 30-Year Fixed Rate Mortgage Average in the United States (MORTGAGE30US), Federal Reserve Bank of St. Louis (FRED) (Oct. 22, 2026)
- MLSSAZ Monthly Market Report, September 2026, MLS of Southern Arizona (Oct. 5, 2026)
I summarize these sources in my own words. If something here looks off, text me and I’ll check it.
Equal Housing Opportunity. This update is general information, not legal, tax or lending advice.