30-Year Mortgage Rate Hits 7.40%, the Highest Since November 2023
Freddie Mac’s survey average rose for a seventh straight week, to 7.40% from 7.28%, as 10-year Treasury yields held above 5.2% and mortgage applications fell 35% from a year ago.
James Clark is a staff reporter for RealtyWire, where he covers residential real estate, home sales, brokerage trends, seller strategy, marketing, home preparation, new construction, renovations, and the practical issues that affect buyers, sellers, agents, brokers, and property owners.
Before joining RealtyWire, James spent 15 years as a residential real estate agent in the Denver, Colorado metro area. During his real estate career, he worked with three different brokerage firms and focused heavily on representing home sellers, giving him firsthand experience with pricing strategy, listing preparation, negotiations, marketing, buyer behavior, and the challenges sellers face in changing market conditions.
James brings a practical, agent-level understanding of the real estate business to his reporting. His background gives him insight into real estate regulation, mortgage issues, sales trends, listing strategy, home staging, new construction, renovations, interior design, and the updates that can help improve a property's marketability and resale value.
His reporting focuses on making real estate news, trends, and market analysis useful for readers who want to better understand how the industry works at the ground level.
Freddie Mac’s survey average rose for a seventh straight week, to 7.40% from 7.28%, as 10-year Treasury yields held above 5.2% and mortgage applications fell 35% from a year ago.
Florida’s insurer of last resort stopped writing new coverage on Oct. 7, a day before Isaias became the season’s first hurricane and warnings went up from Mississippi to the Florida Panhandle.
Fair Isaac disclosed in an Oct. 6 SEC filing that it will cut about 15% of positions across the company, taking $27 million in severance charges, even as scores revenue grew more than 40% year over year.
The Dodge Momentum Index rose 2.4% in September to 288.0, but the gain came from hospitals and schools. Commercial planning fell 1.3% for the month and, excluding data centers, is down 14.9% from a year ago.
Realtor.com added RealAssist AI to Realtor.com+ on Oct. 6, automating client setup, summarizing daily client activity and drafting actions agents approve. The platform is live in 21 markets serving more than 192,000 agents.
A horse farm in Wellsville led the week, while homes in three York neighborhoods and a wooded property in Delta filled out the list.
A historic equestrian property, three Colonials and a brand-new home in five different towns made up the week’s top sales.
A 1938 home by Northup & O’Brien, a Clemmons property with a barn on more than six acres and a new home in Lewisville were among the week’s top sales.
Three Outer Banks homes in Corolla share the list with a brick home in a Williamsburg golf community and a restored lighthouse standing in open water.
Skaneateles, Syracuse, Fayetteville, Cicero and Marcellus each had one of the week’s top sales, with prices from $670,000 to $1,060,000.
A home finished in 2024 and one built in 1890 bracket a week of sales that ran from Ludlow and Chicopee to Southwick and Springfield’s McKnight Historic District.
A lakeside retreat in a private community, a split-level remodeled around an in-ground pool and a home finished in 2023 on wooded acreage joined a sprawling ranch at the top of the week’s sales.
Two lakefront homes, a wooded Victor ranch and a newer Victor colonial followed a Pittsford contemporary with a resort-style pool, and every one of the five went under contract within 12 days of listing.
A rebuilt Lockgreen home, a 1951 Hillcrest home with room for six bedrooms, a new build in Westhampton and two homes near the James River made up the week’s top sales.
A country estate in Clinton Corners, a brand-new home in Tuxedo Park, a loft condominium in Beacon and two homes in Hopewell Junction made up the week’s top sales.
A wooded lakeside property, two Madison homes near the shore, a brand-new Colonial in Cheshire and an architect-designed home in Branford made up the week’s top sales.
Five homes in Lancaster and Dauphin counties sold for $1 million or more, from a post-and-beam design in the Denver woods to a French country home in Ephrata.
Three homes on the water in Middlesex County and two large Colonials in Avon made up the week’s most expensive sales.
Five two-story homes in Dauphin and Cumberland counties, built across nearly nine decades, led the week, with a Hummelstown home at the top.
A newly built home in Oak Ridge led the week, with the rest of the list spread across Summerfield, Greensboro and a second Oak Ridge neighborhood.
Two brand-new homes, a 1970s brick home on wooded acreage and a pool property in Eastover filled out the area’s top sales.
A Chapel Hill lakefront home, a farmhouse on more than 10 acres and two homes finished this year lead a week of sales spread across Orange, Durham and Chatham counties.
A condominium with its own walkout lower level, a 2019 ranch, a wooded property with a barn and two Colonials made up the week’s top sales, and every one went under contract within 15 days of being listed.
Every one of the week’s top sales came from Saratoga County, with a custom home in Gansevoort at the head of the list.
Zillow’s September market report shows newly pending sales down 8.5% year over year with the 30-year mortgage rate at 7.28%, while the typical U.S. rent rose 2.7% — the fastest annual pace since April 2025.
Estates on several acres, a contemporary ranch and a recently built home led the week’s sales in Pittsburgh and Sewickley.
Two waterfront homes in one Rehoboth Beach community led a week of coastal sales that also reached Bethany Beach and Lewes.
A North Raleigh new build topped $5 million, and two Wake Forest homes changed hands at an identical price.
Westerly’s shoreline neighborhoods account for three of the five top sales, with waterfront homes in Narragansett and South Kingstown completing the list.
Four of the week’s five top sales were in York County, from Cape Neddick and York Harbor to Kittery, and the fifth was a newly built home in Cumberland Foreside.
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