Are mortgage rates at a record high?

Updated November 12, 2026

No. The 30 year average peaked at 18.63 percent in October 1981. It was 7.11 percent as of November 12, 2026.

The facts

Both figures come from Freddie Mac's Primary Mortgage Market Survey, which has tracked the average 30 year fixed rate since 1971.

Nearly two thirds of would be buyers believe rates are at a record, according to a Veterans United Home Loans survey from 2026.

What you can do about the rate

Some builders offer rate incentives on new homes, which lower the rate on that purchase. Your credit score and loan type also change the rate you are offered. The Consumer Financial Protection Bureau has a free tool that shows the rates people in your situation are getting: Explore Interest Rates.

See it on your numbers

Tick the builder incentive box in the calculator to see how a lower rate changes your price range. Open the calculator.

Sources: Freddie Mac Primary Mortgage Market Survey; Veterans United Home Loans survey, 2026.