US Mortgage News Today: Rates Above 7%

September 25, 2026 | U.S. Mortgage & Real Estate Market Update

Today’s US mortgage news today update shows mortgage rates continuing to move above the 7% level, while recent mortgage application data point to softer purchase and refinance activity. At the same time, the latest existing-home sales report shows higher inventory and a modest annual increase in home prices.

For homeowners, home-buyers and real estate investors, the combination of elevated borrowing costs and increased housing supply remains an important market factor heading into the final months of 2026.

Mortgage Rates Move Higher

According to Freddie Mac’s Primary Mortgage Market Survey, the average U.S. 30-year fixed mortgage rate reached 7.03% as of September 24, 2026, up from 6.95% the previous week. The 15-year fixed-rate mortgage increased to 6.42%, compared with 6.26% one week earlier.

Freddie Mac reported that the 30-year rate was 6.30% one year earlier, illustrating how financing costs have increased compared with September 2025.

For borrowers, the headline rate is only one part of the financing equation. Loan amount, credit profile, property type, loan structure, points, fees and loan-to-value can all affect the actual financing terms available.

Mortgage Applications Decline as Rates Rise

The latest Mortgage Bankers Association data show that mortgage applications decreased 1.5% for the week ending September 18, 2026. The Purchase Index declined 1%, while the Refinance Index fell 3%. Refinance activity was also 62% below the same week one year earlier.

MBA reported that the average contract rate for a 30-year conforming mortgage increased to 7.12%, its highest level since May 2024. The average jumbo mortgage rate increased to 7.15%, while the average 5/1 ARM rate was 6.10%.

The ARM share of mortgage applications increased to 9.8%, indicating that some borrowers were exploring adjustable-rate financing as fixed mortgage rates moved higher.

Housing Inventory Continues to Increase

The latest National Association of REALTORS® existing-home sales report provides another important piece of the US mortgage news today picture.

Existing-home sales fell 2.0% month over month in August to a seasonally adjusted annual rate of 3.98 million, while sales were down 1.2% from August 2025.

At the same time, housing inventory increased to 1.62 million units, up 3.2% from July and 5.9% from a year earlier. That represented 4.9 months of supply, compared with 4.6 months in July.

The median existing-home price reached $429,100, representing a 1.6% increase from August 2025. NAR reported that this marked the 38th consecutive month of year-over-year median price increases.

Key U.S. Mortgage & Housing Numbers

What This Means for Real Estate Investors

For real estate investors, higher mortgage rates can make traditional financing more expensive and can affect the cash flow calculations behind an investment property.

Investors evaluating DSCR rental loans, fix-and-flip financing, bridge loans, ground-up construction or multifamily financing should look beyond the headline interest rate and evaluate the complete financing structure.

Important factors can include:

• Purchase price and current property value
• Expected rental income
• Debt-service coverage
• Loan-to-value requirements
• Cash required to close
• Points and lender fees
• Prepayment terms
• Renovation or construction financing
• Exit strategy
• Expected holding period

With housing inventory increasing, investors may also encounter more properties where pricing, seller concessions or transaction structure require careful evaluation.

What Home-buyers and Property Owners Should Watch

Several market indicators will remain important over the coming weeks:

1. Mortgage rates:
Rates around or above 7% can materially affect monthly payments and purchasing power.

2. Mortgage applications:
Continued weakness in purchase and refinance applications could provide additional information about borrower demand.

3. Housing inventory:
The increase to 1.62 million existing homes represents more available supply than the market had a year earlier.

4. Home prices:
Despite slower sales, the August median existing-home price remained 1.6% above the prior year.

5. Financing alternatives:
Borrowers and investors may need to compare fixed-rate, adjustable-rate, DSCR and other financing structures based on the property and their individual objectives.

Kala Lending: Financing for Homeowners and Investors

Kala Lending, LLC provides residential mortgage and commercial mortgage financing for eligible borrowers and real estate investors across the United States.

Financing solutions may include:

• DSCR rental loans
• Investment property purchase financing
• Cash-out refinancing
• Fix & flip loans
• Bridge financing
• Ground-up construction financing
• Multifamily financing
• Commercial real estate financing
• Rental portfolio financing

For investors, the appropriate financing structure can depend on the property, borrower profile, projected cash flow, leverage, experience and exit strategy.

Kala Lending focuses on transparent financing discussions from the pre-loan stage through funding, with loan structure and applicable fees discussed upfront.

Learn more: Kala Lending, LLC

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Bottom Line

Today’s US mortgage news today is centered on mortgage rates remaining above 7%, declining mortgage application activity and rising housing inventory.

Freddie Mac’s latest weekly survey puts the 30-year fixed mortgage rate at 7.03%, while MBA’s latest application survey recorded a 7.12% average conforming rate. Meanwhile, NAR’s August data show existing-home inventory increasing to 1.62 million homes and 4.9 months of supply.

For homeowners and investors, these conditions make it particularly important to evaluate rate, leverage, cash flow, fees and overall loan structure together rather than focusing on the headline interest rate alone.

Disclaimer: This article is provided for general informational and educational purposes only and should not be considered financial, mortgage, investment, tax or legal advice. Mortgage rates, loan programs, eligibility requirements, fees and terms may change. Actual financing terms depend on borrower qualifications, property characteristics, lender guidelines and market conditions.