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October 14, 2026

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Prosper Buyers Get Hit By 7.4% Mortgages As Insurance Rates Start Easing In Texas

Housing costs just pulled in opposite directions. Prosper buyers are facing steeper monthly payments, even as some insurance bills may finally start to soften.

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This Week's Coverage

U.S. Housing · October 8, 2026

Mortgage Rates Jump To 7.4%, Highest Since 2023

Homebuyers are facing another affordability hit after the average U.S. 30-year fixed mortgage rate climbed to 7.40% on Oct. 8. That was up from 7.28% a week earlier and marked the highest level since November 2023.

Borrowing Gets More Expensive

Freddie Mac reported the 30-year fixed rate at 7.40%, while the average 15-year fixed mortgage rose to 6.73%. A year earlier, the average 30-year rate was 6.30%, putting significantly more pressure on buyers financing a home today.

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