People often ask how much a change in the interest rate matters. Here is the math, without opinions: monthly principal and interest for four common loan amounts on a 30-year fixed loan.
| Rate | $400,000 | $600,000 | $800,000 | $1,000,000 |
|---|---|---|---|---|
| 5.00% | $2,147 | $3,221 | $4,295 | $5,368 |
| 5.50% | $2,271 | $3,407 | $4,542 | $5,678 |
| 6.00% | $2,398 | $3,597 | $4,796 | $5,996 |
| 6.50% | $2,528 | $3,792 | $5,057 | $6,321 |
| 7.00% | $2,661 | $3,992 | $5,322 | $6,653 |
| 7.50% | $2,797 | $4,195 | $5,594 | $6,992 |
| 8.00% | $2,935 | $4,403 | $5,870 | $7,338 |
How to read it
- Find your loan amount across the top and the rate on the left.
- Moving from 6% to 7% on an $800,000 loan changes the payment by about $526 a month.
- The table shows principal and interest only. Property taxes, insurance and HOA dues are extra.
For your own numbers, use the mortgage payment calculator, which starts at the current national average of 7.03% (Freddie Mac, week of Sep 24, 2026).
Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Rodrigo Ballon with CrossCountry Mortgage, at 858-735-0255. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
Where these numbers come from
- Freddie Mac Primary Mortgage Market Survey for weekly average mortgage rates.
- FRED (St. Louis Fed) for the federal funds target range and the 10-year Treasury yield.
- Federal Reserve FOMC calendar for meeting dates and statements.
- Investing.com Fed Rate Monitor, which shows market expectations for upcoming meetings based on federal funds futures, and its Fed Interest Rate Decision calendar.
Data as of Sep 24, 2026. These pages describe the past and the present and make no predictions. Investing.com and the other sources are independent of Rudy Flores and Coldwell Banker West.
More on interest rates
- The Fed's Rate Decisions vs. Mortgage Rates: What Is the Difference? — The Federal Reserve sets one short-term rate. Mortgage rates follow a different set of forces. Here is how the two relate, with the recent decisions.
- The 10-Year Treasury and Mortgage Rates: How They Move Together — Mortgage rates and the 10-year Treasury yield tend to rise and fall together. Here is the gap between them, year by year.
- Interest Rate, APR and Points: How to Read a Loan Estimate — Three numbers show up on every mortgage quote. Here is what each one means, with a worked example.
- Fixed Rate, Adjustable Rate and Buydowns: The Basics — How the main loan structures work, and what a temporary or permanent rate buydown means.
- Mortgage Rates Through the Decades: 1971 to Today — Freddie Mac's weekly survey goes back to 1971. Here are the average, the high and the low for every decade.
General information, not financial advice.