Kitsap Mortgage Rates, Week of Oct 29: 7.24%
Freddie Mac's 30-year fixed average was 7.24% for the week of October 29, 2026, down from 7.32% the week before and up from 6.17% a year earlier (October 30, 2025). The 15-year fixed was 6.6%, down from 6.68%. On Kitsap County's NWMLS September median sale price of $595,000, with 20% down, principal and interest at 7.24% comes to about $3,244 a month by my arithmetic. That's $26 less than a week earlier and $338 more than at last year's rate. On Pierce County's $580,000 median, it's about $3,162.
Rates have now come down two weeks in a row, from 7.40% in mid-October to 7.24%. That's real relief, but small, and it's worth seeing in dollars before anyone calls it a turn. Here's what this week's Freddie Mac number does to a payment on a typical Kitsap or Pierce home, how it compares to a year ago, and what I'd do with it as a buyer or a seller.
Key Takeaways
- The 30-year fixed averaged 7.24% this week. That's down 0.08 points from 7.32% on October 22 and up 1.07 points from 6.17% on October 30, 2025, per Freddie Mac.
- Two weeks of easing after the peak. The 30-year average was 7.40% on October 8 and October 15, its highest in the last twelve weeks of the survey.
- A Kitsap median home costs about $3,244 a month in principal and interest. That's my arithmetic on the $595,000 NWMLS September median, 20% down, 30-year fixed at 7.24%.
- The year-over-year gap is the bigger number. The same Kitsap loan would have run about $2,906 at last year's 6.17%, roughly $338 a month less.
- Rate buydowns are worth more than price cuts right now. A full point off the rate saves about $316 a month on that Kitsap loan, which is why I push sellers and buyers to talk about credits, not just price.
This Week's Freddie Mac Numbers
Freddie Mac's Primary Mortgage Market Survey is the weekly national average rate for a conventional, conforming loan with 20% down and strong credit. Your quote will differ, but this is the benchmark lenders and the news use.
| Freddie Mac PMMS | 30-year fixed | 15-year fixed |
|---|---|---|
| Week of October 29, 2026 | 7.24% | 6.6% |
| Week of October 22, 2026 | 7.32% | 6.68% |
| Week of October 30, 2025 | 6.17% | 5.41% |
Week over week
The 30-year average fell 0.08 points and the 15-year fell 0.08 points. That follows a 0.08-point drop the week before, from 7.40% to 7.32%. Two moves of that size don't change much on their own, but the direction has flipped after a long climb.
Year over year
Against the same week in 2025, the 30-year average is up 1.07 points and the 15-year is up 1.19 points. That's the gap buyers feel. Someone who shopped Kitsap last fall and waited is facing a noticeably higher payment on the same house.
Twelve Weeks of the 30-Year Rate
Rates ran in a tight band through August, climbed hard through September, peaked at 7.40% in early October, and have eased since.
Source: Freddie Mac Primary Mortgage Market Survey, weeks of August 13 through October 29, 2026.
See the numbers
| Item | Value |
|---|---|
| Aug 13 | 6.67% |
| Aug 20 | 6.65% |
| Aug 27 | 6.66% |
| Sep 3 | 6.71% |
| Sep 10 | 6.76% |
| Sep 17 | 6.95% |
| Sep 24 | 7.03% |
| Oct 1 | 7.28% |
| Oct 8 | 7.40% |
| Oct 15 | 7.40% |
| Oct 22 | 7.32% |
| Oct 29 | 7.24% |
What drove the September climb
Between September 10 and October 8, the 30-year average rose from 6.76% to 7.40%. Most of the climb came in three weeks: 6.95% on September 17, 7.03% on September 24 and 7.28% on October 1. Buyers who were preapproved in August at a mid-6% rate saw their numbers move under them.
Where that leaves us now
At 7.24%, the rate is back below where it stood on October 1 (7.28%) but well above the August range. I'd treat this as a pause, not a trend, until we see a few more weeks.
What 7.24% Means for a Kitsap Payment
To make the rate real, I run it against Kitsap County's NWMLS median sale price for September 2026, which was $595,000. Information and statistics compiled and reported by the Northwest Multiple Listing Service. The payment math below is mine.
The assumptions
20% down ($119,000), a $476,000 loan, 30-year fixed, principal and interest only. Property taxes, insurance and any HOA come on top, and they vary a lot by town. My income needed to buy in Washington post shows the full housing payment with those added in.
The payment at three rates
| Kitsap, $476,000 loan, 30-year fixed | Rate | Monthly principal and interest |
|---|---|---|
| This week (October 29, 2026) | 7.24% | $3,244 |
| Last week (October 22, 2026) | 7.32% | $3,270 |
| A year ago (October 30, 2025) | 6.17% | $2,906 |
That's $26 a month less than last week and $338 a month more than a year ago. Against the 7.40% peak, which works out to about $3,296, this week's rate saves about $52 a month.
Source: My arithmetic. NWMLS Local Market Update, Residential, September 2026 (Kitsap median $595,000). Freddie Mac PMMS 30-year averages for October 29, 2026, October 22, 2026 and October 30, 2025.
See the numbers
| Item | Value |
|---|---|
| A year ago, 6.17% | $2,906 |
| This week, 7.24% | $3,244 |
| Last week, 7.32% | $3,270 |
What It Means for a Pierce Payment
Pierce County's NWMLS median sale price for September 2026 was $580,000. With 20% down, that's a $464,000 loan.
The payment at three rates
| Pierce, $464,000 loan, 30-year fixed | Rate | Monthly principal and interest |
|---|---|---|
| This week (October 29, 2026) | 7.24% | $3,162 |
| Last week (October 22, 2026) | 7.32% | $3,187 |
| A year ago (October 30, 2025) | 6.17% | $2,833 |
That's $25 less than last week and $329 more than a year ago. If you're weighing Gig Harbor or the Key Peninsula against Kitsap, the Gig Harbor page has the NWMLS area figures for that side of the water.
The 15-year option
At the 15-year average of 6.6%, the payment on the same loans jumps to about $4,173 in Kitsap and $4,067 in Pierce. It's a much larger monthly check that builds equity far faster. It suits buyers with strong income who want the house paid off, not buyers stretching to get in.
Why a Rate Buydown Beats a Price Cut
This is the part I spend the most time on with clients right now, because the math surprises people.
A point off the rate
On the Kitsap loan, dropping the rate one full point, from 7.24% to 6.24%, takes principal and interest from about $3,244 to $2,928. That's about $316 a month. A quarter point, to 6.99%, is worth about $80 a month. A lender quote will show you what a buydown costs at closing.
The same money as a price cut
A seller credit used to buy down the rate usually moves the monthly payment more than the same dollars taken off the price, because a price cut is spread across 30 years of a loan. With Kitsap price cuts up 14.81% in September per Realtor.com, as I covered in my Kitsap housing inventory report for September 2026, a lot of sellers are already giving money away. The question is whether it's going where it helps the buyer most.
What This Means If You're Selling
Rates above 7% shrink the number of buyers who can afford a median-priced home, and the ones left are doing this math too.
Price for the payment, not just the comps
A buyer at 7.24% feels every $10,000 of price. Start at a number the recent sales support. My guide to pricing your Kitsap home in 2026 shows how I set it, and my sellers have averaged 99.18% of list price.
Offer the credit before you cut
If your home has been on the market a few weeks, consider offering a rate buydown credit before a price reduction. It lets you market a lower payment, and it keeps your price intact for the next buyer's appraisal. If the listing has already stalled, read why Kitsap homes sit even when they sell near list.
What This Means If You're Buying
You can't control the rate. You can control how much of it you lock in and how you negotiate around it.
Shop lenders, then shop the credit
Freddie Mac's average is a benchmark, not your quote. Get at least three Loan Estimates on the same day, as I lay out in comparing mortgage rates from local lenders. Then ask the seller for a credit that buys the rate down. My buyers have averaged 95.48% of list price, and a lot of that room now comes through credits.
Know your budget at today's rate
Your preapproval from August may not stretch as far at 7.24%. Re-run it. If you're stretching, Washington's first-time buyer programs and my look at what Kitsap budgets buy are good next reads.
What Is the Current 30-Year Mortgage Rate in Washington?
Freddie Mac's Primary Mortgage Market Survey put the national 30-year fixed average at 7.24% for the week of October 29, 2026, with the 15-year fixed at 6.6%. Freddie Mac publishes a national average, so Washington lenders quote around it based on credit, down payment and loan type.
How Much Is a Mortgage Payment on a Kitsap County Home?
On Kitsap County's NWMLS September 2026 median sale price of $595,000, with 20% down and a 30-year fixed rate of 7.24%, principal and interest is about $3,244 a month by my arithmetic. Taxes, insurance and any HOA dues are added on top.
Are Mortgage Rates Going Down?
They've eased for two weeks. Freddie Mac's 30-year average fell from 7.40% on October 15, 2026 to 7.32% on October 22 and 7.24% on October 29. That's still 1.07 points above the 6.17% average of a year earlier, so it's too early to call a lasting drop.
Final Thoughts
This week's 7.24% is a little better than last week and a lot worse than last year. On a Kitsap median home, that's $26 a month of relief against $338 a month of extra cost compared to a year ago. I don't expect a small weekly dip to bring a wave of buyers back. I do expect the buyers who are out there to negotiate hard, and the best tool on either side of the table is a rate buydown credit. Run the payment, not just the price.
Run your own numbers with me
I'll run the payment on a specific home or your own price range, and show what a credit is worth against a price cut. Get in touch here, or call (360) 777-7212.
Selling? Get a real valuation on your home. Buying? Search homes for sale.
Sources: Freddie Mac Primary Mortgage Market Survey, 30-year and 15-year fixed averages for the weeks of August 13 through October 29, 2026 and October 30, 2025. NWMLS Local Market Update, Residential, September 2026 (Kitsap County and Pierce County median sale prices); information and statistics compiled and reported by the Northwest Multiple Listing Service. Realtor.com Economic Research, county inventory, September 2026. Monthly payments are my arithmetic: 20% down, 30-year or 15-year fixed, principal and interest only. This article is not financial advice; confirm rates and terms with a licensed lender.
