Today’s national averages
| Loan | Average rate | Weekly change |
|---|---|---|
| 30-year fixed | 7.18% | ▼0.06 |
| 15-year fixed | 6.57% | ▼0.03 |
| 30-year fixed, one year ago | 6.22% | |
| 10-year Treasury yield |
Source: Freddie Mac Primary Mortgage Market Survey, week of Nov 5, 2026. The survey averages conventional purchase loans with 20% down and excellent credit. These are national averages, not an offer of credit.
How Greg helps when rates are high
- He makes lenders compete. Greg prices your loan across many wholesale lenders. On a $400,000 loan, a 0.25% lower rate saves about $67 a month, roughly $24,000 over 30 years.
- Seller-paid rate buydowns. In today’s market, many sellers will pay to buy down your rate. A 2-1 buydown on $400,000 at 7.18% can cut your payment by about $518 a month in year one and $265 in year two.
- Builder incentives, checked. Arizona builders often offer rate incentives. Greg compares the builder’s offer with outside lenders so you know which one actually saves more.
- A plan for when rates drop. Greg keeps an eye on rates after you close and tells you when a refinance would actually pay off, so you’re not stuck if rates fall.
- Options beyond the 30-year fixed. Adjustable-rate loans, FHA, VA, and points-versus-credit tradeoffs can lower your starting payment. Greg shows the real numbers side by side.
What a quarter point is worth
On a $400,000, 30-year loan, the principal and interest payment is about $2,710 a month at 7.18% and about $2,642 at 6.93%. That $67 a month adds up to roughly $24,000 over the life of the loan, which is why shopping lenders matters.
Frequently asked questions
Why is my quoted rate different from the national average?
The Freddie Mac average assumes 20% down and excellent credit on a conventional purchase loan. Your rate depends on your credit, down payment, loan type, points, and the lender.
Should I wait for rates to drop before buying?
It depends on your situation. Waiting can mean higher prices or more competition when rates fall. Many buyers buy now with a buydown or adjustable rate and refinance later if rates drop. Greg can model both paths.
What is a 2-1 buydown?
A 2-1 buydown lowers your rate by 2% in year one and 1% in year two, usually paid by the seller or builder. From year three on, you pay the full note rate.
How does the 10-year Treasury affect mortgage rates?
Mortgage rates tend to move with the 10-year Treasury yield, though the gap between them changes with market conditions. When the 10-year rises, mortgage rates usually follow.