Freddie Mac’s survey put the average 30-year fixed mortgage rate at 7.28 percent in the week of Oct. 1, the highest reading since November 2023, according to Fox Business. A year earlier it was 6.34 percent.
At Westport prices, a single percentage point is real money. We ran the standard amortization formula for three purchase prices, assuming 20 percent down and a 30-year fixed loan.
| Purchase price | Loan at 80 percent | Monthly at 6.34% | Monthly at 7.28% | Difference per month |
|---|---|---|---|---|
| $1,500,000 | $1,200,000 | $7,459 | $8,211 | $752 |
| $2,425,000 | $1,940,000 | $12,059 | $13,274 | $1,215 |
| $3,500,000 | $2,800,000 | $17,404 | $19,158 | $1,754 |
The middle row uses the town’s single-family median for January through August 2026, $2,425,000, according to SmartMLS data compiled by the Riverside Realty Group. At that price the higher rate costs about $14,580 more a year. Payments shown are principal and interest only.
A note on jumbo loans
Freddie Mac’s survey tracks conventional loans. At Westport prices, a buyer financing 80 percent of a purchase will almost always need a jumbo loan, which lenders price on their own terms. The survey is still a good guide to the direction of rates, but ask lenders for jumbo quotes before you use any of these numbers to set a budget.
Why it may not cool prices much
Higher rates usually slow a market, and September’s early numbers were soft. But Westport’s inventory is unusually thin, with 59 single-family houses listed in August, down 35.9 percent from a year earlier, and scarcity tends to support prices. Our market report follows both trends, and our guide to ownership costs covers taxes, insurance and the rest of the monthly bill.
Sources
- Freddie Mac, Primary Mortgage Market Survey, Oct. 1, 2026
- Fox Business, Mortgage rates, Oct. 1, 2026, Oct. 1, 2026
- Riverside Realty Group, August market update, September 2026
