This is catching the MOAM's attention today….. the 30-year mortgage rate climbed again, to 7.40%, the highest Freddie Mac weekly average since mid-November 2023. Here's this week's short video with the real numbers for Marblehead and Salem, plus one practical tip from a guy who sells houses and builds things. No hype, no made-up stats. If I can't source a number, you won't see it.
This week's numbers
Mortgage rates (Freddie Mac PMMS®, U.S. weekly averages as of Thursday, Oct. 8, 2026)
- 30-year fixed: 7.40%, up from 7.28% the week before. A year ago it was 6.30%.
- 15-year fixed: 6.73%, up from 6.60%. A year ago it was 5.53%.
That's the highest 30-year PMMS reading since November 16, 2023 (when it was 7.44%), per Freddie Mac's historical data.
Source: Freddie Mac Primary Mortgage Market Survey · PMMS history CSV
A quick reality check: on a $600,000 30-year loan, principal and interest runs about $3,714 a month at 6.30% and about $4,154 at 7.40%. That's roughly $440 more a month than a year ago, before taxes and insurance. (That's my own arithmetic at the Freddie Mac average rates. Your actual rate depends on your lender and your loan.)
Marblehead, single-family, September 2026 (Massachusetts Association of REALTORS®)
- Median sale price: $1,127,500, up 15.6% from $975,000 in September 2025
- Closed sales: 14 (20 a year ago). Small sample, so one month can look extreme.
- Homes for sale: 28 (down 15.2% from a year ago)
- Months of supply: 2.0
- Cumulative days on market: 53 (36 a year ago)
Source: MAR Local Market Update, Marblehead, September 2026 (MLS PIN data, provided by MAR)
Salem, single-family, September 2026 (MAR): this week's rotating town spotlight
- Median sale price: $725,000, up 2.8% from $705,000
- Closed sales: 17 (12 a year ago)
- Homes for sale: 26
- Months of supply: 2.0
- Sellers received 95.9% of original list price, down from 101.5% a year ago
Source: MAR Local Market Update, Salem, September 2026
So what does it mean? Both towns are still tight at about two months of supply. But Marblehead homes are taking longer to sell than a year ago, and Salem sellers are giving up a few points off their original asking price. With rates at 7.40%, buyers have a little more room to negotiate than they did last fall.
The broker-who-builds tip: a pre-listing home inspection
Thinking of selling? Consider getting your own home inspection before you list. You find the roof, wiring or water problems before a buyer's inspector does, so you can fix them on your schedule, or price them in up front, instead of renegotiating under deadline pressure.
This tip is general information, not a substitute for professional advice, and it doesn't replace advice from your listing agent on what your house needs. If you're planning repairs before a sale, I hold MA Construction Supervisor License CS-047636 and can talk through what's worth fixing.
Buying, selling, or fixing up?
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Or call or text me at 781-727-6516. I'm available seven days a week.
John Nestor, Nanepashemet Real Estate Services, MA Broker Lic. #136995-RE-B · 328 West Shore Drive, Marblehead, MA 01945 · 781-727-6516 · nanepashemet.com. Renovations: John Nestor, MA Construction Supervisor License CS-047636. Equal Housing Opportunity.
MOAM Out.
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