Rate Watch · week of October 8, 2026
7.40% on the 30-year: what it costs on the Seattle, Bellevue and King County median
Freddie Mac's print for the week of October 8, 2026, put on the September 2026 NWMLS median closed price in each market: the payment at 20% down and the income it takes at a 28% front-end ratio.
Adriano Tori, designated broker, RexMont Real Estate
Freddie Mac print of October 8, 2026 · Freddie Mac PMMS via FRED
This week
7.40%
30-year fixed, October 8, 2026
Last week
7.28%
October 1, 2026 · this week +12 bp
Four weeks ago
6.76%
September 10, 2026 · this week +64 bp
The payment on each median
Principal and interest at 7.40% on 80% of the September 2026 median closed price (20% down), 360 payments. Taxes, insurance and HOA dues excluded.
| Market | September 2026 median | Payment / month | vs last week | vs 4 weeks ago | Income needed |
|---|---|---|---|---|---|
| Seattle | $825,000 | $4,570 | +$54 | +$285 | $195,845 / yr |
| Bellevue | $1,435,000 | $7,949 | +$94 | +$495 | $340,651 / yr |
| King County | $837,000 | $4,636 | +$55 | +$289 | $198,693 / yr |
Formula: payment = L × i ÷ (1 − (1 + i)−360), where L is 80% of the median closed price and i is the annual rate ÷ 12. Income needed = payment × 12 ÷ 0.28 (a 28% front-end ratio on principal and interest alone; lenders add taxes and insurance, so the real threshold is higher). Medians: NWMLS data via RexMont's MLS Grid feed, September 2026, all residential closings (Puget Sound Monthly, September 2026). Rate: Freddie Mac PMMS via FRED, 30-year fixed, week of October 8, 2026.
Adriano's read
The 30-year printed at 7.40% this week, up 12 basis points from 7.28% last week and up 64 basis points from 6.76% four weeks ago. On Seattle's September 2026 median of $825,000, that is $4,570 a month in principal and interest with 20% down, and $195,845 a year in income at a 28% front-end ratio. Bellevue's $1,435,000 median runs $7,949 a month. That is $285 a month more than the same Seattle home cost four weeks ago. My read: the buyers who locked a rate in September 2026 are ahead, and a seller pricing this week prices to the payment a buyer can carry, not to the spring comps.
Adriano Tori, designated broker, RexMont Real Estate. Quote with attribution and a link to this page.
Reporters
Adriano Tori answers on deadline: 425.420.5256 or adriano@rexmont.com. Custom cuts by city, property type or price band within one business day; every number traces to the release it came from. Cite as “RexMont Data Desk” with a link to the dated release page.
How reporters use the Data DeskInformation and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of October 7, 2026 at 9:19 PM PT (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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