Last updated Nov 2026
Mortgage rates at 7.24%: a Tucson payment from the October median
By Trameze Jones, REALTOR® · Last updated Nov 2026
Freddie Mac's 30-year fixed averaged 7.24% on Oct 29, 2026, down from 7.32% the week before and above 6.17% a year earlier. The 15-year average that day was 6.60%. On the Tucson metro median of $354,900 with 10% down, principal and interest is about $227 a month higher than at 6.17%.
Data as of Oct 29, 2026 for rates; October 2026 for the Tucson metro median.
| Rate | Date | About PI / month |
|---|---|---|
| 7.24% | Oct 29, 2026 | About $2,177 |
| 6.17% | One year earlier | About $1,950 |
| Gap | Same price and down payment | About $227 |
Freddie Mac's Primary Mortgage Market Survey put the average 30-year fixed at 7.24% on Oct 29, 2026. That is down from 7.32% the week before and above 6.17% a year earlier. The 15-year average that day was 6.60%.
October 2026 moved like this, week by week: 7.28%, then 7.40%, 7.40%, 7.32%, and 7.24%. Those are the weekly PMMS readings, not a quote from a Tucson lender.
What does 7.24% change on the Tucson median payment?
Long Realty's Tucson metro report for October 2026, pulled Nov 2, 2026, shows a median sale price of $354,900. With 10% down, the loan is 90% of that price. Principal and interest on that loan is about $2,177 a month at 7.24%, and about $1,950 a month at 6.17%. The gap is about $227 a month. Taxes, insurance, and HOA dues are not in either number.
One point on that loan is about $3,194. In a market with 5.4 months of inventory, a seller-paid rate buydown is a negotiating lever, not a slogan. The inventory figure is in the October market note.
What would Trameze do?
What Trameze would do is get a written Loan Estimate from two lenders the same day, and ask the listing side for a credit toward a buydown instead of a price cut. Then compare the two offers on the monthly payment, not on the rate in a headline.
What are the short answers?
What was the average 30-year mortgage rate on Oct 29, 2026?
Freddie Mac's Primary Mortgage Market Survey averaged 7.24% for a 30-year fixed that day, and 6.60% for a 15-year fixed.
How much more is a Tucson payment than a year earlier at those rates?
On the Long Realty Tucson metro median of $354,900 with 10% down, principal and interest is about $2,177 a month at 7.24% and about $1,950 at last year's 6.17%. That is about $227 a month, before taxes, insurance, and HOA dues.
Tucson · Oro Valley · Marana · Catalina Foothills · How buying works · Sources on this site
Sources
- Freddie Mac PMMS, Oct 29, 2026
- GlobeNewswire, Mortgage Rates Decline Further to 7.24%, Oct 29, 2026
- Freddie Mac PMMS archive, weekly October 2026 readings
- Long Realty / MLSSAZ Tucson Metro, October 2026 data, pulled Nov 2, 2026
Last updated Nov 2026. Figures stay next to the date they were published.