Mortgage rates move every week, but most homeowners only check when they’re actively shopping for a new loan. This page tracks the real weekly average from Freddie Mac’s own survey, plus what refinance activity nationally is actually doing in response, so you can check your own numbers against the current market instead of guessing whether refinancing still makes sense.
Mortgage Rate Tracker — Week of September 24, 2026
Rates just hit a 2-year high — and refinance demand has nearly disappeared
The 30-year fixed averaged 7.03% this week, per Freddie Mac’s weekly survey — the tenth straight weekly increase, up from 6.58% in late July. Refinance applications are down 62% from a year ago and now make up just 39.3% of all mortgage activity, per the Mortgage Bankers Association.
What this means for you: if your current rate is well below 7%, refinancing right now probably doesn’t make sense. But if you took out your mortgage in the last year or two at a higher rate, this week’s number might still beat what you’re paying. Check your own breakeven below.
Should you refinance this week?
Enter your own numbers to see your real breakeven point.
Closing costs on a refinance typically run 3%-6% of the loan amount, per Freddie Mac — on a $300,000 balance, that’s roughly $9,000-$18,000.
Adjust the numbers above to see your own breakeven point.
Current payment: /mo
New payment at this week’s rate: /mo
This compares payments over your same remaining term, isolating the effect of the rate change. Most refinances reset the clock into a fresh 30-year term, which can lower the monthly payment further but stretches out how long you’re paying — and usually means more total interest even when the rate is lower. Ask your lender to quote both structures before you decide.
| Week of | 30-Yr Fixed |
|---|---|
| Sep 24, 2026 | 7.03% |
| Sep 17, 2026 | 6.95% |
| Sep 10, 2026 | 6.76% |
| Sep 03, 2026 | 6.71% |
| Aug 27, 2026 | 6.66% |
| Aug 20, 2026 | 6.65% |
| Aug 13, 2026 | 6.67% |
| Aug 06, 2026 | 6.69% |
| Jul 30, 2026 | 6.66% |
| Jul 23, 2026 | 6.58% |
How this is measured
The rate above comes from Freddie Mac’s Primary Mortgage Market Survey (PMMS), based on mortgage rates from thousands of loan applications submitted through Freddie Mac’s own system by a mix of credit unions, commercial banks, and mortgage lenders nationwide. It reflects an average of loan rates offered the prior Thursday through Wednesday and is released every Thursday at 12 p.m. ET. A year ago (September 2025), the same survey had the 30-year fixed at 6.30% — today’s 7.03% is a meaningful jump in a single year.
Why refinancing has nearly stopped
The Mortgage Bankers Association runs a separate weekly survey of actual loan applications. For the week ending September 18, 2026, it found total mortgage applications down 1.5% from the week before, and refinance applications specifically down 3% week-over-week and 62% lower than the same week a year ago — now just 39.3% of all mortgage activity, down from a much larger share when rates were lower. In plain terms: as rates climbed through the summer, most homeowners who could benefit from refinancing already did, and the remaining pool of people for whom today’s rate is still an improvement keeps shrinking. That’s exactly why checking your own numbers matters more now than it did a year ago — the “everyone should refinance” window has mostly closed, but that doesn’t mean nobody should.
Sources: Freddie Mac Primary Mortgage Market Survey · PMMS historical archive · MBA Weekly Applications Survey coverage, HousingWire
Updated weekly, following Freddie Mac’s Thursday release. Last updated with the week of September 24, 2026.