US 30-year mortgage rate hits 7.32% as builders cut prices
The gist
US 30-year mortgage rates climbed to 7.32% in late October as builder buyer traffic hit a 2012 low.
High rates and rising inventory are squeezing both buyers and sellers heading into 2027.
How it unfolded
- Oct 22, 2026The US 30-year mortgage rate climbed to 7.32%.
- Oct 2026The National Association of Home Builders' buyer traffic measure fell to 18, its lowest since April 2012 excluding the pandemic's start, and 43% of builders cut prices.
- Oct 2026For a fourth consecutive month, more than 1 in 5 active listings (20.5%) saw a price cut, the highest October reading since 2022.
Key terms
- housing starts
- An economic indicator counting privately owned new homes on which construction has begun in a period.
Source: Wikipedia