In short: Mortgage rates are back above 7%. Mortgage News Daily‘s daily index had the average top-tier 30-year fixed rate at 7.58% on Tuesday, September 29, 2026. That’s the top of its 52-week range, which runs from a low of 5.99% to 7.58%. Mortgage News Daily says it’s the highest level for its index since November 1, 2023. If you didn’t lock in, here’s what you can still do.

I’m Aaron Yoon, a broker with eXp Realty serving Seattle and the surrounding area. I don’t set rates and I’m not a lender. My job is to help you structure your move, and I can introduce you to local lenders I work with.

Where mortgage rates stand today

Here are the figures from Mortgage News Daily‘s rate index for September 29, 2026:

• 30-year fixed: 7.58% (up 0.08 from the prior day)
• 52-week range for the 30-year fixed: 5.99% to 7.58%
• 30-year jumbo: 7.60%

This is a national index, not a Seattle-only number. Mortgage rates in Seattle track the national market closely, but the rate you’re quoted depends on your credit, down payment, loan type, loan size and lender. Jumbo loans are common here, so check that line too.

For what’s happening with local prices and inventory, see my King County housing market update for August 2026.

If you locked in the 5s or 6s: congratulations

Several of my clients locked rates in the 5s and 6s over the last few months. If that’s you, nice work.

If you have a lock that hasn’t closed yet, stay in touch with your lender about your lock expiration date. Missing it can mean re-pricing at today’s rates.

Stuck in the 7s? You have more options than you think

A higher rate doesn’t automatically mean you have to walk away from a move. It means the terms of your deal matter more. A few levers:

• Seller credits. In a market with more inventory, some sellers are willing to give credits toward a buyer’s closing costs instead of cutting the price.
• Builder incentives. Builders sometimes offer credits or financing incentives on new construction. Offers vary.
• Temporary rate buydowns. Credits can be used to fund a buydown that lowers your payment for the first year or two.
• Timing. If you’re selling too, sequencing affects how much you borrow. See my sell first or buy first guide.

Ask me how seller or builder credits can pay for a temporary buydown that lowers your payment for the first few years.

How a temporary rate buydown works in Washington

A temporary rate buydown lowers your interest rate, and your monthly payment, for the first part of the loan. Someone pays the difference up front into an account that covers the gap. That money can come from the seller, a builder or the buyer, depending on the loan program.

• 2-1 buydown: the rate is 2 points below the note rate in year one, 1 point below in year two, then the full note rate for the rest of the loan.
• 1-0 buydown: the rate is 1 point below the note rate in year one, then the full note rate after that.

After the buydown period ends, your payment goes up to the full note-rate payment. Plan your budget around that full payment, not the year-one payment.

Illustrative example (hypothetical numbers)

This is an illustrative example using hypothetical numbers only. It is not a rate quote or a loan offer, and it shows principal and interest only (no taxes, insurance or HOA dues).

Say a buyer has a hypothetical $500,000 30-year loan with a hypothetical note rate of 7.5%, and the seller agrees to fund a 2-1 buydown:

• Year 1 at 5.5%: about $2,839 per month
• Year 2 at 6.5%: about $3,160 per month
• Years 3–30 at 7.5%: about $3,496 per month

In this hypothetical, the cost to fund the 2-1 buydown is roughly the total payment difference over those two years, about $11,900. A 1-0 buydown in the same example would cost roughly $4,000.

Seller credits and buydowns: what to know before you ask

• Loan programs limit how much a seller can contribute toward your costs. Your lender can tell you the cap for your loan.
• Ask your lender which rate they will use to qualify you. It may be the full note rate, not the bought-down rate.
• A credit is part of your offer. How you ask for it affects how competitive you are. If you’re writing a contingent offer in Washington, that trade-off gets even more important.
• Compare it with other uses for the same money, like permanent points or closing costs.

Terms vary; talk to a licensed lender. I’m happy to introduce you to local lenders I work with so you can compare options side by side.

If you’re buying and selling at the same time

Higher rates put more pressure on the gap between selling and buying. Start with my guide to buying and selling a home at the same time in Seattle, and read up on how a bridge loan works if you need to buy before your current home sells.

FAQ

What is the 30-year mortgage rate today?

According to Mortgage News Daily, its 30-year fixed index was 7.58% on September 29, 2026.

What is a 2-1 buydown?

It’s a temporary buydown where your rate is 2 points below the note rate in year one and 1 point below in year two, then the full note rate for the rest of the loan. The difference is paid up front.

Can a seller pay for my temporary rate buydown?

Often, yes, within limits set by your loan program. It must be negotiated in your purchase agreement and allowed by your lender. Terms vary; talk to a licensed lender.

Does a temporary buydown lower my rate for the whole loan?

No. It only lowers your rate for the buydown period. After that, you pay the full note-rate payment for the rest of the loan.

Talk through your options with Aaron

Didn’t lock in and not sure what’s next? Call or text Aaron at 425-517-1985, or book a call to go over credits, buydowns and timing for your move.

Aaron Yoon, Broker, eXp Realty. Rate figures: Mortgage News Daily daily rate index, September 29, 2026 (published around 4 PM ET). Aaron Yoon is not a mortgage lender. Financing information in this post is educational only and is not a loan offer or a commitment to lend. Any payment figures are illustrative examples with hypothetical numbers. Terms vary; talk to a licensed lender about your specific situation.