Mortgage rates moved higher this week, increasing the cost of financing a home for buyers in Reno and across Northern Nevada.

According to Freddie Mac’s Primary Mortgage Market Survey, the average rate for a 30-year fixed-rate mortgage increased to 6.95% as of September 17, 2026, up from 6.76% the previous week.

That’s also noticeably higher than a year ago. During the same week in September 2025, the average 30-year fixed mortgage rate was 6.26%.

What Does That Mean on a $600,000 Reno Home?

Let’s look at a simple example.

For a $600,000 home with 20% down, a buyer would finance $480,000 with a 30-year fixed mortgage.

At last year’s 6.26% average rate, the estimated principal and interest payment would be approximately $2,959 per month.

At today’s 6.95% average rate, the estimated payment would be approximately $3,177 per month.

That’s an increase of about $219 per month, or approximately $2,625 per year.

For Reno homebuyers, it’s a good illustration of why it’s important to look beyond just the price of a home. Changes in mortgage rates can have a meaningful impact on monthly affordability and purchasing power.

Source: Freddie Mac Primary Mortgage Market Survey (PMMS), September 17, 2026.

Mortgage payment examples are estimates for principal and interest only and do not include property taxes, homeowners insurance, HOA fees, mortgage insurance, or other costs. Mortgage rates and loan terms vary based on the borrower, lender, credit profile, loan program, down payment, and other factors. Consult with a qualified mortgage professional for current rates and financing options specific to your situation.

William “Max” Sabo
Lic # BS.143873
Haute Properties NV