Daily Market Updates: Mortgage rates rise to 7.28%, pushing buyers toward ARMs

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At close · Wed, Sep 30, 2026

Real Estate

Home›Real Estate›Mortgages›Mortgage rates rise to 7.28%, pushing buyers toward AR…

Mortgage rates rise to 7.28%, pushing buyers toward ARMs

Reported · Written up by our desk · Mortgages

The average 30-year, fixed-rate mortgage climbed to 7.28 percent, which is the highest level reported since 2023, according to NYT Business.

NYT Business also reported that the 7.28 percent rate is up from 6.34 percent a year ago.

As fixed-rate borrowing costs increased, more homebuyers are looking to adjustable-rate mortgages, the outlet said.

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Sources

NYT BusinessAs Mortgage Rates Hit Highest Level Since 2023, Buyers Look at ARMs

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