# U.S. 30-Year Fixed Mortgage Contract Rate Climbs to 7.30% By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/25748 Published: 2026-09-30T11:19:22.000Z Updated: 2026-09-30T11:19:22.000Z Section: Investing > The rate reached its highest level since November 2023 as weekly mortgage demand fell 6% and refinance applications dropped 9%. The average U.S. 30-year fixed mortgage contract rate climbed to 7.30% last week, its highest level since November 2023, as weekly mortgage demand fell 6% and refinancing weakened further. The rate increased from 7.12%, extending its rise to a sixth consecutive week. The move follows [the previous increase to 7.12%](), which had marked the highest level since May 2024. Refinance applications fell 9% from the prior week and were down 56% from the same week a year earlier. Refinancing made up 38.3% of all mortgage activity, compared with 39.3% the previous week. For conforming loans of up to $832,750, points including origination fees rose to 0.75 from 0.73 for borrowers making a 20% down payment. Government-backed refinance activity declined 13% during the week. Applications for Federal Housing Administration and Department of Veterans Affairs loans each posted double-digit weekly declines. At current rates, few borrowers can benefit from refinancing. ## Links in this article - [the previous increase to 7.12%](https://www.tokenpost.com/news/investing/23313)