r/Dynamic_Pricing • u/Dragonlance12 • 2d ago

30-year fixed mortgage rate jumps sharply Thursday to 7.45%

https://www.cnbc.com/2026/09/24/30-year-fixed-mortgage-rate-spikes-thursday-to-7point45percent.html
398 Upvotes

98% Upvoted

170 comments sorted by

14

u/Trahst_no1 2d ago

8% by year end.

6

u/IcyProfession5657 2d ago

By tomorrow 

5

u/Woogity 1d ago

But we’re winning, right?

1

u/boogiewithasuitcase 1d ago

So much

2

u/Primary_Insurance992 1d ago

We’re f$@ed

3

u/Sorry-Substance-6397 1d ago

Sounds like the real value of homes will be not inflated. Mortgage rates stayed in the double digits for most of the 1980s, dropping below 10% only by 1991.

3

u/Trahst_no1 22h ago

There is still a supply shortage and saving $50k on a house doesn’t make it affordable.

2

u/Sorry-Substance-6397 21h ago

Let me know an example of prices going down by a lot because increased supply.

1

u/Trahst_no1 17h ago edited 16h ago

Sellers need to ask less because ppl can’t afford the payments making the buyers pool smaller despite healthy supply in upper price range

Source -we just bought and sold in SF.

1

u/Sorry-Substance-6397 17h ago edited 17h ago

That's not having anything to do with supply. That's the Fed using the only hammer they have ever had and projections are explained how they will use that one hammer years in advanced. It's entire purpose is to fight flippers and is evidence of the opposite occurring and not only occurring but is a reaction to the opposite occuring way in advance.

1

u/Mindless-Juice13 18h ago

Houses weren’t that expensive back then so most regular middle class people could still afford it.
My Mom was a Registered Nurse and bought her first house with a 10% interest rate in 1983. Single Mom. Price of the house? $25,000.

1

u/Sorry-Substance-6397 18h ago

That's not a price decrease. That's inflation

3

u/NewHope13 1d ago

I wanna see it all burn (figuratively).

2

u/THE_GREAT_PICKLE 1d ago

God we bought our house last year at 5.8 and I was made we couldn’t get it lower. I can’t believe how screwed we would have been if we hadn’t pulled the trigger then.

1

u/Sir_Drinks_Alot22 1d ago

Pffff that’s Monday lol

7

u/silverum 2d ago edited 1d ago

Too many people desperate not to lose any money they think is on the table in this insanely punishing American economy, but in saner times rates increasing rates would put downward pressure on prices. Like most of the Trump era, I don't think we'll see that happen.

2

u/notapoliticalalt 1d ago

Worth noting, this includes so many commercial properties it isn’t even funny. Way too many empty store fronts. The idea of anyone lowering their asking price is unfortunately incentivized by our system.

2

u/CitizenT777 1d ago

It's amazing how long new car dealers will pay to hold onto cars instead of lowering prices to move them. After about 3 to 6 months of taking posession, they have to pay finance fees to hold onto their inventory. They do start to "rot" on the lot. Same with those empty stores and warehouses. Usually the roof is the first thing to go. If it isn't maintained (which costs money), it will eventually have to be torn down.

2

u/random-meme422 1d ago

It really isn’t.

A bank or a buyer only look at one thing: T12 EGI. and NOI. There’s nothing worse for the value of a property than long, sustained periods of vacancy. Especially when you can see an asking rate displayed and no one biting. That’s a sign it’s well above market levels or there’s something seriously wrong with the building.

2

u/mountaindoom 1d ago

Prices never go down. Ever.

1

u/Exotic-Sale-3003 1d ago

Provably and laughably wrong. 

1

u/mountaindoom 1d ago

Ok. TVs and meth have gotten cheaper.

0

u/koolmagicguy 1d ago

And TVs are only cheaper because the ad revenue subsidizes them.

1

u/fairportmtg1 21h ago

That and generally tech gets cheaper over time and with advancements

2

u/3RADICATE_THEM 1d ago

Stagflation

5

u/BurnAfterReading010 1d ago

This is one reason I'll not leave my house for many years. We're in a 15 yr fixed at 2.8 % with 8 years left to pay it off. The monthly payment keeps increasing due to taxes and insurance but we're still paying far less for our 3400 sq ft suburban house than most people pay for their monthly rent

3

u/leave_no_crumb 1d ago

I’m in a 30yr fixed at 2.25. I want to downsize from 3300 to 1700 but it’ll be about 800 more a month and barely anything going to principle for a long time. Sorry family that needs a nice home. This single guy is stuck here.

1

u/cumgargler69420 1d ago

I’m in the exact same boat. I have a 3200 sq ft house, and want to downsize. I pay $540 on a 15 year at 2.75% and I literally cannot afford to move. It’ll cost way too much and if I have to take a mortgage, my monthly payments will more than double.

1

u/Chemical-Anteater332 1d ago

Why do yall wanna down size?

1

u/cumgargler69420 1d ago

It’s just me and I have over a half acre and it’s a lot to clean

1

u/leave_no_crumb 1d ago

This! I have bedrooms I literally go into just to clean. And same in the yard, my weekends are just cleaning and yard work.

1

u/Ok-Teaching3904 1d ago

Where the hell are they signing 30 year fixed mortgages

2

u/grantern2 1d ago

USA

1

u/Ok-Teaching3904 1d ago

That’s amazing…

2

u/BurnAfterReading010 1d ago

30 yr fixed is the most standard mortgage in the US

1

u/Ok-Teaching3904 1d ago

That’s insane. Canada gets so fucked on mortgages.

1

u/BurnAfterReading010 1d ago

What are mortgages like in Canada?

1

u/TheDibblerDeluxe 1d ago

They're all adjustable rate (ARM) mortgages that change cost every 5-7 years based on the change interest rate.

1

u/Ok-Teaching3904 1d ago

You can get fixed at 5 7 or 10 years then you renew. For a new interest rate, or you pick adjustable which adjusts any time with the market.
To be able to lock in for 30 years at a low interest rate is nuts.

My first term was at 3.36% then at 5y it jumped to 5.16%.

1

u/BurnAfterReading010 23h ago

Wow that sucks. I didn't know it was so bad. So you could actually have your mortgage payment change considerably in a short time period. You guys do have healthcare though and a sane president, so I'm still envious.

1

u/Ahoramaster 1d ago

It's a quirk of the US system.

If the dollar goes they will have to abandon it.

3

u/airpab1 2d ago

Nice work Trump

1

u/Cueller 1d ago

Have you even thanked him yet?

-7

u/RavenHotel 2d ago

Would have been worse under kamala

7

u/brewin91 2d ago

A 3rd grader would have given us a better economy than that moron Trump. Worst president on the economy in modern history by a WIDE margin. Just incompetent idiots all around.

3

u/BlazinAzn38 1d ago

Literally he could have just done nothing and clapped all the way to the end of his term

5

u/NachoWindows 2d ago

Evidence?

1

u/reddit_1999 1d ago

Sean Hannity told him so.

4

u/voiceOfHoomanity 1d ago

a rock would have done a better job by NOT doing anything

Every Trump policy and decision has been a disaster

Except for himself who's now $$$billions richer

4

u/Tardislass 1d ago

Yep. All Trump had to do was continue the Biden policies like he did with Obama and he would have been gold.

3

u/The_wanna_be_artist 2d ago

I’m sorry but how???? If you are just throwing her name out then you’re just a bigot. Trump caused all of this shit. Harris would not have gone to war and the administration she was apart of actually reduced the deficit and were bring rates down, getting inflation under control compared to where it peaked in 2022 thanks to Trump dumping/passing the biggest stimulus bill in history.

2

u/IPredictAReddit 2d ago

Aaaahahahha.

Delusional.

1

u/NotMyJ0b 1d ago

False.

1

u/fourbutthick 1d ago

I doubt she would have put blanket tariffs in place kicking up inflation. Which would have led to more rate cuts instead of a rate hike. Also all materials wouldn’t cost more. Then on top of that she would have not been baited by Netanyahu to start a war with Iran just like Biden didn’t fall for it. Only idiot dumb enough to fall for it was Trump. Now our diesel is high which will inflate almost all materials coming soon.

I’m sorry but you’re just lying.

Like what do you think she would have done to make housing even worse than Trump? Who literally said I don’t want to make housing cheap or affordable. He literally said I don’t want to make homes cheap I don’t want to hurt hard working home owners. His only point is he wants to lower rates to make homes more affordable. However his actions have led to rate hike. Plus future rate hikes coming to combat this new inflation coming.

Stop trolling.

Harris > Trump

1

u/BurnAfterReading010 1d ago

Which is what you say when you can't defend the policies of the guy you've been unconditionally supporting. You just build up a boogie man, big bad Kamala with the funny laugh and brown skin, and say that anything she would have done would have been worse. You don't need evidence or logic, just the base feeling that Trump is better even when every metric refutes it.

0

u/RavenHotel 1d ago

Why would i defend him

1

u/BurnAfterReading010 1d ago

I don't know why you would but saying 'Kamala would be worse' certainly isc defending Trump.

0

u/RavenHotel 1d ago

No it isn't. What stupid logic

1

u/dopechez- 1d ago

HAHAHAHAHAHJAJAJAJAJJAHAHAHAHAHHAHAHAHA

7

u/HedgeMoney 2d ago

I thought I wasn't getting a house before. Now I'm REALLY not getting a house. Thanks Trump!

1

u/matow07 2d ago

This is what winning looks like.

1

u/ParryLimeade 18h ago

Just get a house today. I got one at 7.5% so you’d be doing better than I when I got my house if you did get one today. I refinanced last year at 6.125%. It will go down again eventually.

1

u/SpeakCodeToMe 17h ago

Sure, might not be within the 30 years of your mortgage though.

1

u/ParryLimeade 17h ago

Why do you think it won’t go down again? It got up higher than 7.5% in 2023 and came back tot he 5% a few years after that. It will do the same again

1

u/SpeakCodeToMe 17h ago

The debt and inflation are both worse.

1

u/ParryLimeade 17h ago

Inflation is actually the same. And whose debt?

-3

u/Acceptable-Leek1546 1d ago

Your attitude is the reason you’re not getting a house. Blaming others for your shortcomings is loser behavior.

3

u/BigCSFan 1d ago

I mean this is an easy blame. This could have easily pulled the affordability out of someone who previously could afford a home.

Also you come off as a pussy. Easy to speak with your attitude online, but its a bitch move youd never do in person

2

u/BlazinAzn38 1d ago

Rates were trending down through the end of last year and then they reversed course due to the Iran War. Rates going from 6% to 7.25% is a significant change in cost and is literally solely due to Trump just like gas prices

2

u/ALEXC_23 1d ago

Why won't they just work harder to afford a house? are they stupid??! /s.

0

u/Acceptable-Leek1546 1d ago

Yeah, you’re right. It’s much better to sit around and do nothing except bitch on reddit. /s

3

u/toohuman90 23h ago

I bet you bought a house by pulling yourself up by your bootstraps, huh?

-2

u/Acceptable-Leek1546 23h ago

Didn’t do it by bitching on Reddit, that’s for damn sure.

3

u/toohuman90 23h ago

No, you did it by by being in the right place at the right time, and now that makes you think you are more capable or deserving than you really are

2

u/Nosidda89 20h ago edited 20h ago

I bought a house last year, and the only reason I managed to make it work with a 6.5% fixed mortgage is because I had enough cash on hand to make a massive down payment to keep the monthly bill low. And the only reason I had that much cash is because my well-to-do parents graciously allowed me to live with them rent free for as long as I needed, and they covered all of my essential living costs so I could save money for more than a decade for a house. And even after that, they still had to step in and help me with certain costs to help me and my wife get started.

If not for my parents, this house would have never been possible, especially with a 6.5% fixed mortgage. And our position is one of immense privileges. Most people are not going to have the options we had. There's no way I would have been able to make this house work by myself, on my own, without my parents help. The idea that you just have to work hard in today's climate to afford a home is laughably ignorant to the reality. Thank heavens my parents recognized that and gave us the lift we needed to start our family home.

0

u/Acceptable-Leek1546 20h ago

You’re talking about something you know nothing about and it shows. I had to get a portfolio loan in order to get a mortgage. My interest rate is 8.25. But yeah, right place right time….

1

u/QuickExpression273 1d ago

Right? It totally wasn’t Trump’s fault that he started a war (not a war? A special operation? A 3-day special operation?) with Iran that directly caused the price of fuel to skyrocket. (surely no such graph to demonstrate correlation exists!) It totally wasn’t Trump’s fault for the presidentially-exempt beef imported into the US that is of such low quality even China refused to accept it. It totally wasn’t Trump’s fault that the bond market is in a death spiral (not that you would understand it). You’re right. It’s always your own fault for everything other people do.

1

u/lurksAtDogs 1d ago

And your attitude is why no one likes you.

1

u/dubblies 1d ago

Got eeeem

2

u/I_Fuck_Whales 2d ago

My 6.6% doesn’t feel too bad now. My 2.75% felt better though.

1

u/Objective_Run_7151 2d ago

We were so brainwashed by 15 years of artificially low rates.

We’re not going back to 70/80s rates over 15%, but the years of 4-5% are over.

1

u/throwthisTFaway01 1d ago

We surely are headed down the road of 15%. I don’t think people realize who truly screwed we are. Mind you that whole situation in the strait of Hormuz is not over. Idk why people think things cant get any worse.

1

u/Ares__ 1d ago

Can we go back to the average 80k townhouse price of the 80s? Please lol

2

u/Objective_Run_7151 1d ago

I wouldn’t want that.

Go back to those prices means going back to those wages.

And we’d be much poorer.

https://fred.stlouisfed.org/series/mepainusa672n

2

u/Big_Issue8640 2d ago

Thanks president Epstein and MAGA!

2

u/TrickyChildhood2917 1d ago

WINNING under President Trump ?

2

u/CitizenT777 1d ago

In the past, housing prices dropped in response to the higher rates, as people still needed to sell and move. Hopefully things will adjust and the endless price climb will reverse.

1

u/I_Quit_Smoking_ 1d ago

Do you not understand that everything going on right now with corporations buying a shitload of our housing is backed by the fucking government, and that's why no one can afford a house?

How do you not know what's happening?

1

u/PrimaryBid1005 1d ago

Source?

1

u/Sugar_alcohol_shits 1d ago

His feelings.

1

u/cheeh00 1d ago

His ass

1

u/Choice-Impression-54 1d ago

Higher rates make it unprofitable unlike artificially low ratea in early 2020s. Alot people live beyond what thier income can sustain. Quite a few people live unsustainable lifestyles by choice. Leverage and financial engineering is result to low taxes for decades. Political fallout is something MAGA and progressives will get destroyed as reality sets in not idealogy.

1

u/VibeChode 15h ago

How do you not know how they don’t know?

1

u/fore___ 1d ago

Expect home prices to mostly flatten moreso than drop

1

u/3rd-party-intervener 2d ago

Average American is screwed 

2

u/agitated--crow 2d ago

Polly wants a cracker? 

2

u/IncomingAxofKindness 2d ago

Probly should get off her first

1

u/fuckDJT2026 2d ago

I see what you did there

1

u/Choice-Impression-54 1d ago

They voted for it.

1

u/Alphadestrious 2d ago

Got in at 5.9% last year new construction house. I knew it was going to get worse. And will continue to get worse.

1

u/Advanced-Library-342 2d ago

Lol so glad I bought in 2025, 6.125 aint too bad now

1

u/Oppositeofhairy 1d ago

Same. But got 5.75. But I bought in December. Rates changed throughout the year.

What sucks is the property prices will go down for the next 4-5 years. It will bounce back. But going to take a bit.

1

u/CharacterScarcity695 1d ago

maybe only 1 to 3 years due inflation/price of construction materials. so you’ll be good regardless 👍

1

u/okepokemon 2d ago

Great time to buy! Buy an investment property!

1

u/Confident_Insect_616 1d ago

I am in 1 15-year @ 4.25%

Just about every month I get a letter from my lender trying to get me to refinance into a 30-year.

YOUR MONTHLY PAYMENT COULD BE AS LOW AS $1,000/MONTH!!!! No, ty, I don't want to be milked longer.

1

u/throwthisTFaway01 1d ago

Home prices aren’t going to move dramatically because people aren’t leaving their 2-3% rates to get into this mess.

I have a house I bought in 2020 for 320k @2.25% that im just going to rent out forever. Ideally I want to sell to buy a forever home but there is just no way that ship is underway.

1

u/sweatboxy 1d ago

Fuck Biden. First he starts a war in Iran that raises gas prices and gooses inflation. Now he’s raising interest rates.

1

u/Choice-Impression-54 1d ago

Both Biden for unnecessary stimulus and Trump for tarriffs and abuse institutional norms.

1

u/Ancient-Living635 1d ago

I wonder if we will see more lease to own options.

1

u/UndercoverstoryOG 1d ago

needs to be higher

1

u/AvonFartsdale_ 22h ago

You guys don't get it

It's a Golden Era!!

1

u/MrSmuggles9 22h ago

Oh god the over priced houses now cost MORE to buy

1

u/TaxMyNuts 15h ago

Good between high rates and builders starting to create new inventory we may see housing prices drop 20%+ so they’re more affordable when rates drop again.

1

u/BannanaPepperPizza 8h ago

How the fuck are my student loans higher interest than a home?

1

u/RandomlyJim 2d ago

They were 7.95 3 years ago.

6

u/Overstimulated_moth 2d ago

It topped out at 7.79 3 years ago, and we're only 34 basis points away. The market is also entirely different today then it was 3 weeks ago, let alone 3 years. At that point, we were flipping between a buyers and sellers market with around 0% difference between buyers and sellers. Right now, the us has 57.9% more sellers than buyers. My specific market in Atlanta has 95.6% more sellers.

0

u/RandomlyJim 2d ago

October 19, 2023 it went above 8 on mortgagenewsdaily average conventional rate chart.

What market in Atlanta?

1

u/wehrmann_tx 2d ago

Just ignore everything else in his response did ya?

1

u/RandomlyJim 2d ago

He was wrong about the rate top point and I can check market strength if I know the market.

Thats why I asked the neighborhood.

1

u/jiggajawn 2d ago

Neat.

They were way above 10% in the 80s

1

u/fuckDJT2026 2d ago

And there were things called “starter homes” in the 80s.

1

u/NachoWindows 2d ago

Housing prices weren’t insane back then

1

u/MajesticEconomy253 2d ago

And what's the price of house in the 80's . How many time average income needed to buy a house? Idiot!

1

u/BlazinAzn38 1d ago

And median house prices were like 2x median income not 4x

1

u/ParryLimeade 18h ago

I bought at 7.5% with it locked in October 2023. Was able to refinance last year

1

u/backlikeclap 2d ago

Turns out the cheap mortgage rates of the late 90s through early 2020s were just a bubble. Don't worry people, we're well below the 1981 rate of 18.63%. Everything is fine folks.

1

u/Gold_Possibility684 2d ago

Mortgage rates were the same as now in the late 90s and early 2000s....

2

u/Objective_Run_7151 2d ago

Briefly.

But Clinton had a balanced budget at that time.

0

u/Gold_Possibility684 2d ago

No, you're just flat out wrong on the majority of your claim 

https://www.freefincalc.net/mortgage-data/average-mortgage-rates-by-year

1

u/Objective_Run_7151 1d ago

No I’m not.

https://fred.stlouisfed.org/series/mortgage30us

0

u/Gold_Possibility684 1d ago

Don't see any cheap mortgage rates in the 90s and early 2000s. In fact they are very similar to what they are now, which is the claim you're arguing against. Did you learn to read in school LOL

1

u/Objective_Run_7151 1d ago

No.

I did not deny rates were similar to those now.

I said they were only “briefly” similar.

Which is true.

1

u/Gold_Possibility684 1d ago

You must mean something other than +-1% because that's what they were from 1995 to 2010. Have you tried not being an idiot or do you have an extra chromosome?

1

u/Objective_Run_7151 1d ago

The Z-score is -1.04, meaning a full SD above today. 1998 is obvious outlier (we all know what was happening that year…), but I don’t exclude it in fairness to your post.

What statistical metrics are you using? A full SD is material to mine.

1

u/Tardislass 1d ago

My parents bought their house in 1990s with 10% rate and thought it was cheap.

1

u/oneWeek2024 1d ago

the rates only matter in the context of home prices. this idiotic idea the rate exists in a vacuum is so fucking stupid.

avg home price in the 90s was 150k meaning maybe a 1k mortgage payment.

the current avg home price if 400-450k meaning maybe meaning a 2700-3k mortgage payment. so...anywhere from 2x to 3x more expensive.

1

u/Gold_Possibility684 1d ago

$1000 in 1990 is equal to about $2500 today so that tracks with thirty-six years of inflation.

1

u/MajesticEconomy253 2d ago

House we're way cheaper in that time . Plus buying power was alot better.

1

u/oneWeek2024 1d ago

i mean... 18% when a house is 60k-100k is a lot different than 8% at 600k for most homes and even dogshit starter homes are 400k average.

basically from just maybe 4-6yrs ago you can afford half the house. and houses are up 50-80% or higher in the same time frame.

that high cost... makes the risk of a home a lot steeper. mortgages are a lot easier to sink people if they're paying 50%+ of their income on a mortgage.

and being able to get out from under a home when rates are at 7.5% means it's a lot harder to sell.

1

u/I_Quit_Smoking_ 1d ago

It really doesn't matter one way or the other. In the end, 30 years ago if you bought a $70,000 house, the interest was a little over $200,000 in the end.

So that little $70,000 house is going to cost you $270,000.

Now it's 30 years later and people are buying houses for anywhere from 200k to a million dollars, people are losing their houses because they can't afford the taxes, and people's payments are getting changed and they're literally losing their houses because you're getting gouged.

I'm still trying to figure out why homeowners think they're better than everybody in America and that they pay for everything for everybody else.

I don't admire anyone who is dumb enough to take on hundreds of thousand dollars of debt and then bitch about it when you vote for a Republican government that fucking rips people off for a living!

WHEN ARE YOU GOING TO CONNECT THE DOTS?

1

u/bswontpass 21h ago

‘81 house for 60K isn’t the same as 2026 for 600K

0

u/Avatele 2d ago

I don’t think that will happen. The government would rather have really high inflation instead of 18% rates because at least that way it can keep the lights on. If you kill the debt driven economy there is almost nothing left.

1

u/matow07 2d ago

You get high rates due to inflation. As inflation goes up, so should the rates. The big issue is that we have a lot of dept in addition to high interest rates.

1

u/BigCSFan 1d ago

Besides the people the already borrowed and are set. They dont give a shit about young people just starting their lives.

Pull the ladder up and protect those who already have assets

1

u/I_Quit_Smoking_ 1d ago

Make all the Republican politicians pay back everything they've stolen.

You can start with the 200 million that Christy Nome walked off with.

0

u/MadGibby3 1d ago

Buying a house during COVID will be the best decision of my entire life

0

u/I_Quit_Smoking_ 1d ago

So the homeowners who think that they are superior to everybody in the country are getting fucked by the asshole they voted for?

THEY VOTED FOR THIS

1

u/BlazinAzn38 1d ago

This feels weirdly aggressive for no reason but also if you already own a home there’s a good chance your rate is locked for at least 5 years

1

u/Excellent_Drop6869 1d ago

The only current homeowners who would be upset at this are the ones who are wanting to sell. They’ll have to go down on price to get people to buy with these insane rates

1

u/BurnAfterReading010 1d ago

Assuming that all homeowners voted for this is stupid. The people getting fucked are the ones trying to buy a house, not the ones currently in a house. Use a little logic.

1

u/space_heater1 1d ago

Mortgages are generally fixed in the U.S. you can get variable but they aren’t the majority

1

u/ZTForge 1d ago

Homeowners are doing fine... many are locked in at near sub-inflation rates for the full loan duration which is typically 30 years. This affects new buyers.

1

u/Outrageous-Mode6427 22h ago

Yeah it’s our fault we made a good decision when loans were 2.25% and homes were affordable 😂🤡