By Benjamin Finnerty (S), REALTOR® (RS-83812) with Keller Williams Realty Maui · Kīhei, Maui · 808-481-9748

Quick Answer: Freddie Mac reported on Thursday, October 8, 2026, that the average 30-year fixed mortgage rate rose to 7.40%, up from 7.28% a week earlier and 6.30% a year ago. That is the highest weekly reading since November 2023. For Maui mortgage rates, the impact is real: on the September 2026 median single-family price of $1,150,000 with 20% down, principal and interest now runs about $6,370 a month, roughly $675 more than at last year’s rate. The good news is that Maui’s high conforming loan limit, softer prices and plenty of inventory give prepared buyers room to negotiate.

If you’ve been tracking Maui mortgage rates and hoping for relief this fall, this week went the other way. Here’s what changed, what it means for monthly payments on Maui homes and condos, and how buyers can respond without panicking.

What happened to mortgage rates this week?

Freddie Mac’s weekly Primary Mortgage Market Survey, released October 8, showed:

Loan type	Oct. 8, 2026	Oct. 1, 2026	One year ago
30-year fixed	7.40%	7.28%	6.30%
15-year fixed	6.73%	6.60%	5.53%

The climb has been steady. The 30-year average was 6.76% on September 10, 6.95% on September 17, 7.03% on September 24 and 7.28% on October 1. That’s an increase of 64 basis points in four weeks.

Mortgage rates tend to track the 10-year Treasury yield more closely than the Federal Reserve’s policy rate. The 10-year yield was around 5.2% this week. The Fed raised its benchmark rate by a quarter point at its September 15-16 meeting, and its next scheduled meeting is October 27-28, 2026.

How do Maui mortgage rates change monthly payments?

Here’s the principal-and-interest math on a 30-year fixed loan with 20% down. These figures don’t include property tax, homeowners or flood insurance, or association dues, which can add a lot on Maui.

Median single-family home: $1,150,000 (REALTORS® Association of Maui, September 2026). Loan amount: $920,000.

• At 6.30% (a year ago): about $5,695 per month
• At 7.28% (last week): about $6,295 per month
• At 7.40% (this week): about $6,370 per month

Median condo: $660,000 (RAM, September 2026). Loan amount: $528,000.

• At 6.30%: about $3,268 per month
• At 7.40%: about $3,656 per month

So against a year ago, today’s rate adds about $675 a month on the median home and about $388 a month on the median condo.

Is a Maui home loan a jumbo loan?

Often not, and that matters. For 2026, the Federal Housing Finance Agency set Maui County’s one-unit conforming loan limit at $1,299,500, among the highest in the country. Fannie Mae lists $1,299,500 as the 2026 high-cost ceiling for Hawaii.

That means a buyer putting 20% down could buy a home priced up to about $1.62 million and still use a conforming loan. Jumbo loans, which exceed the limit, often have different pricing and stricter reserve and down payment requirements. If your price range sits near that line, adjusting your down payment slightly could change which loan you qualify for. A local lender can run both scenarios.

Why higher rates aren’t the whole story on Maui

Rates are only one side of affordability. The other side is price, and Maui prices have softened this year. According to RAM’s September 2026 report:

• The countywide single-family median fell 11.0% year over year in September, to $1,150,000.
• The year-to-date single-family median is $1,219,000, down 6.2% from $1,300,000.
• The year-to-date condo median is $655,000, down 6.8% from $702,500.
• Sellers received a median 94.7% of list price in September for both homes and condos.
• Inventory stood at 457 single-family homes (7.8 months of supply) and 822 condos (12.1 months).

Months of supply above six generally favors buyers. Combined with discounts off list price, many buyers can offset part of the rate increase through negotiation.

What can buyers do right now?

1. Get fully pre-approved, not just pre-qualified. In a market where sellers are weighing several offers on well-priced homes, a solid approval letter strengthens your hand.

2. Ask about seller credits. With homes selling below list price, it’s often possible to negotiate a seller credit toward closing costs or a rate buydown. A permanent buydown lowers your rate for the life of the loan; a temporary buydown lowers it for the first year or two.

3. Compare multiple lenders. Freddie Mac itself notes that getting multiple quotes can save borrowers thousands over the life of a loan.

4. Consider your loan type. Adjustable-rate mortgages and 15-year loans price differently. Each has trade-offs, so talk them through with your lender.

5. Budget for the full monthly cost. On Maui, condo association dues, insurance and flood coverage can be as important as the rate. Ask for association budgets and insurance quotes early in your due diligence.

6. Don’t try to time the bottom. Rates may ease or keep climbing. If you buy now and rates fall later, refinancing may be an option, but it isn’t guaranteed and has its own costs.

FAQ

What is the current 30-year mortgage rate?
Freddie Mac’s average for the week of October 8, 2026, is 7.40% for a 30-year fixed loan and 6.73% for a 15-year fixed. Your own rate depends on credit, down payment, loan size and property type.

When is the next Fed meeting?
The Federal Open Market Committee is scheduled to meet October 27-28, 2026. Fed decisions influence mortgage rates indirectly, but they don’t set them.

What is the 2026 conforming loan limit in Maui County?
$1,299,500 for a one-unit property.

Are Maui home prices falling?
Year to date through September, RAM reports the single-family median down 6.2% and the condo median down 6.8% compared with the same period in 2025. Results vary a lot by area and property.

Should I wait for rates to drop?
That depends on your timeline, budget and how long you plan to stay. Waiting can mean more competition if rates fall. It’s worth running the numbers both ways.

Let’s run your numbers

Every buyer’s situation is different, and a quarter point can matter more on one property than another. If you’d like to see what today’s rates mean for the homes or condos you’re watching, including association dues and insurance, I’m happy to walk through it with you and connect you with trusted local lenders. Reach out anytime.

Sources: Freddie Mac Primary Mortgage Market Survey (Oct. 1 and Oct. 8, 2026); REALTORS® Association of Maui, September 2026 market report; Federal Reserve FOMC calendar; FHFA and Fannie Mae 2026 conforming loan limits.