US Mortgage Rates Slip to 7.24% as New Home Sales Decline in September

Mortgage rates decline as home sales soften

The average rate on a 30‑year fixed‑rate mortgage fell to 7.24% on October 27, 2026, down from 7.26% a week earlier.

This marks the third consecutive day of rate declines.

The average interest rate on a 30‑year fixed‑rate purchase mortgage was reported at 7.326% on the same date, the lowest level recorded in the past month.

U.S. new single‑family home sales decreased in September 2026, partially reversing the prior month’s increase.

The median price of a new home fell compared with the same month a year earlier.

Higher mortgage rates, which analysts linked to the ongoing Middle East conflict, were cited as a factor depressing sales.

In the Eurozone, mortgage demand dropped 27% in the third quarter, the sharpest decline since 2023.