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As voters struggle with pricey car loans, mortgages and credit-card debt, the cost of money itself is on the ballot
Interest rates aren’t expected to decline anytime soon, as the Federal Reserve held rates steady on Wednesday
Verizon faces a concerning customer trend
Verizon is seeing a concerning shift in customer behavior despite recently improving customer retention in its wireless business.
The carrier revealed in its latest earnings report that it added 406,000 new postpaid phone customers in the third quarter of 2026, up more than 820% year over year. Its wireless retail postpaid phone churn (the percentage of customers who canceled their service) also hit 0.94% during the quarter, down from 0.98% in the same period in 2025.
These improvements follow Verizon CEO Dan Schulman’s pledge earlier this year to remove customer pain points and avoid price increases without corresponding value, in an effort to curb switching behavior.
The carrier later launched lower-priced wireless plans: Simplicity and Verizon One in June, along with a new loyalty program.
“The customer value proposition we launched in mid-June continues to deliver beyond our expectations,” said Schulman on an Oct. 26 earnings call.
Verizon customers are putting off phone upgrades
Despite seeing success in attracting and retaining customers, Verizon is noticing that many are avoiding device upgrades.
During the third quarter, upgrade volumes among Verizon customers declined more than 20% year over year. The carrier’s equipment revenue during the quarter was down 9% from the prior year, which Verizon said in the earnings report was “primarily from significantly lower upgrade volumes.”
On the earnings call, Verizon Chief Financial Officer Tony Skiadas said that the company’s “continued focus on microsegmentation,” its “disciplined approach to upgrades,” and “customer-first focus” all contributed to lower upgrade volumes during the quarter.
“With the success of Simplicity and our focus on giving more choice to customers, we expect the trend of lower upgrades to continue in the fourth quarter,” said Skiadas.
Read more: Verizon launches generous customer perks after raising prices
Verizon customers are pulling back on upgrading their devices as smartphone prices increase worldwide. This is due to the global memory chip shortage, which has inflated component costs.
Global smartphone retail prices have increased by 20% so far this year. Global smartphone shipments also declined 20% year over year in the third quarter of 2026, the lowest third-quarter level since 2012, according to data from Counterpoint earlier this month.
“Q3 was the second successive quarter to take the full brunt of the memory crisis,” said Shilpi Jain, a senior analyst at Counterpoint, in a press release. “The extreme memory shortage is pushing the smartphone market into a more selective phase, reshaping OEM (original equipment manufacturer) strategies and even consumer behavior.”
“Consumers are holding on to their devices longer than estimated, increasingly considering refurbished devices and prioritizing higher-value devices, while OEMs are adjusting portfolios, pricing, and market strategies to protect profitability,” she continued.
Amid this trend, a recent Reviews.org survey found that Americans, on average, are opting to upgrade their phones every 32 months in 2026, which is three months longer than last year, mainly because new phones are getting pricier.
Verizon customers are holding off on upgrading their phones as prices rise. Bloomberg / Getty Images
Verizon recently reduced free phone offers for customers
Verizon is seeing a decline in phone upgrades after scaling back its free-handset deals earlier this year, driven by evolving consumer habits.
“The era of just the free handset, that’s gone right now,” said Schulman on Verizon’s earnings call in April. “We are looking at what does the customer need. They have a handset that is last year’s model that’s been refurbished. Do they need a new handset? Many of them, because of the economy, are keeping their handsets longer right now.”
On the carrier’s Oct. 26 earnings call, Schulman emphasized that it was the right decision to make for the company.
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“I said a year ago that we were no longer going to be prey, that we were going to stop losing market share, and that was true this quarter,” said Schulman.
“We did all of that in what I think was a very fiscally responsible manner,” he continued. “We’re competing the right way to win in the market. We aren’t competing on promotions or free phones or subsidies, which, by the way, to me, gives no one in the market any competitive advantage.”
He said that Verizon has instead sharpened several areas in its business to “gain competitive advantage” in the wireless market.
“The way to gain competitive advantage is to make sure that you look at your overall end-to-end customer experience, your value proposition, the strength of your network, because there you can create sustainable and lasting competitive advantage,” said Schulman. “Clearly, our value proposition is resonating with our customers.”
As Verizon sees success in retention and mobile account additions, Schulman said that customers could potentially see higher wireless prices in the future.
“I’m not against taking up pricing as long as we add value to that,” he said. “In the past, we took up pricing without adding any value to customers, and eventually that comes back to haunt you.”
“Your churn starts to go up,” he continued. “You lose the trust of your customers. We’ve added a tremendous amount of value in the last year, and there’s potentially room for us to adjust that price-to-value equation by increasing pricing as well.”
Related: Verizon customers face monthly fee for new iPhone feature
Today’s Mortgage Rates: October 29, 2026
Average mortgage rates today
Mortgage Type
Label
Rate
APR
30-Year Fixed
Most Popular
7.05%
7.1%
30-Year FHA
Lower Credit
6.67%
7.87%
30-Year VA
Military
6.75%
6.92%
30-Year Jumbo
High Balance
7.39%
7.41%
15-Year Fixed
Shorter Term
6.41%
6.48%
7/6 ARM
Shorter Term
6.63%
6.7%
HELOC
Home Equity
7.99%
7.99%
Home Equity Loan
Home Equity
8.23%
8.23%
Updated on 10/28/2026
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, LLC, NMLS# 1907, Equal Housing Opportunity, Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and Product details
Mortgage rates remain unchanged at 7.1%. Rates have trended lower over the past few days, offering some relief to prospective homebuyers.
Key mortgage rate averages:
The 30-year fixed-rate mortgage averaged 7.1% APR
The 30-year fixed-rate FHA mortgage averaged 7.87% APR
The 30-year fixed-rate VA mortgage averaged 6.92% APR
The 30-year fixed-rate jumbo mortgage averaged 7.41% APR
The 15-year fixed-rate mortgage averaged 6.48% APR
The 7/6 adjustable-rate mortgage averaged 6.7% APR
The rate on a HELOC averaged 7.99% APR
The rate on a home equity loan averaged 8.23% APR
Mortgage rate trends
Mortgage rates are hovering in the low 7% range, below their recent yearly highs but well above last year’s level. Most housing experts expect rates to stay near or above 7% through year’s end. In written comments, Kara Ng, Zillow’s senior economist, says affordability challenges remain for would-be buyers, but waiting for lower rates may not yield significant savings.
“For a buyer who has decided to purchase a home but is questioning when, here is the tradeoff. Borrowing costs are expected to ease, but only slightly,” Ng says. “Home values, meanwhile, are expected to rise modestly nationwide, offsetting some of the savings from lower rates.”
Ng estimates the difference in monthly payments at today’s rates versus next year’s forecast rate is just $26.
Which loan is best for you?
When shopping for a mortgage, you may be offered several loan options to meet different needs. Here’s a rundown of the most common loan types you’ll find, and who they work best for.
30-year conventional mortgage: Conventional loans work best for borrowers who have a credit score above 620, have saved enough to make a down payment of at least 3% and are looking for flexibility in the type of property being purchased.
30-year Federal Housing Administration (FHA) mortgage: FHA loans are good for first-time homebuyers, borrowers with less-than-perfect credit scores or those with a high debt-to-income ratio.
30-year U.S. Department of Veterans Affairs (VA) loan: Specifically designed for active-duty and retired service members, members of the National Guard and Reserves, and surviving spouses. Offers 0% down loan options, competitive rates and accepts less-than-perfect credit scores.
30-year jumbo loan: Good for homebuyers purchasing property that is priced above the Federal Housing Finance Agency (FHFA) conforming loan limit. In 2026, that limit is $832,750 in most of the U.S. but increases to $1,249,125 in high-cost areas.
15-year fixed-rate loan: Borrowers who prefer a shorter loan term and can afford to make higher monthly payments will pay less overall interest with a 15-year mortgage and pay off the loan faster.
7/6 adjustable rate loan: Good for a buyer who wants to lock in a favorable interest rate for a set period of time and either plans on selling the home before the interest rate starts, is willing to make a higher monthly payment once the rate becomes variable or is open to refinancing the loan.
Home equity line of credit (HELOC): A good option for a homeowner who wants to access the equity they’ve accumulated in their home and have an open line of credit to use as needed.
Home equity loan: Another option for a homeowner who wants to access their home equity and have the financial capacity to take on a second mortgage.
How mortgage rates affect affordability
Your mortgage rate can make a big difference in how much home you can afford and how large your monthly payments are. That’s true whether buying your primary residence, an investment property or refinancing an existing loan.
Here’s an example. If you bought a $250,000 home and made a 20% down payment of $50,000, your starting loan balance would be $200,000. On a $200,000 home loan with a fixed rate for 30 years, here’s what you would pay:
At a 3% interest rate = $843 in monthly payments (not including taxes, insurance, or HOA fees)
At a 4% interest rate = $955 in monthly payments (not including taxes, insurance, or HOA fees)
At a 6% interest rate = $1,199 in monthly payments (not including taxes, insurance, or HOA fees)
At an 8% interest rate = $1,468 in monthly payments (not including taxes, insurance, or HOA fees)
Using a mortgage calculator lets you see how a lower rate or other changes could affect what you pay. A home affordability calculator can also estimate the maximum loan amount you may qualify for based on your income, debt-to-income ratio, mortgage interest rate and other variables. The Consumer Financial Protection Bureau can also provide a range of rates lenders offer in each state.
Current mortgage rates FAQs
What is today’s current mortgage rate?
The average rate on a 30-year fixed-rate mortgage is 7.1% as of October 27, according to Money’s rate data. Other rate surveys show 30-year rates averaging above 7.2%.
What are mortgage rates today?
As of Oct. 27, the rate on a 30-year fixed-rate mortgage was averaging 7.1%, according to Money’s rate data. The average rate for a 15-year fixed-rate loan is 6.54%
Will mortgage rates get to 4% in 2026?
No, they won’t. The current average rate for a 30-year fixed-rate mortgage is 7.1%, and most housing experts expect rates to stay near or above 7% through year-end.
How much is a $300,000 mortgage at 7%?
The monthly payment on a 30-year, $300,000 conventional mortgage at 7% is $1,995.91, excluding taxes, insurance and HOA fees. Your actual payment will vary depending on your credit score, down payment, lender and location, among other factors.
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Target is giving away free holiday teddy bear keychains: Here’s how to get one
Black Friday used to be the day shoppers circled on the calendar for holiday deals. Then came Thanksgiving store openings, weeks of November promotions and sales that started creeping into October. Now, Target is kicking off the holiday toy season with a free teddy bear keychain before Black Friday has even arrived.
The retailer’s Nov. 7 Holiday Kick Off With Toys event will give shoppers a free Holiday Bear keychain while supplies last. The event also features toy demonstrations and activities designed to help families get a head start on their holiday wish lists.
Read more: Kohl’s adds a new way to shop, just in time for the holidays
The timing makes sense. According to Attentive’s 2026 holiday shopping survey, 71% of consumers plan to start shopping before Black Friday, while 46% begin before November. Retailers have plenty of reason to get their holiday promotions in front of shoppers early.
How to get Target’s free holiday bear keychain
The event runs from noon to 4 p.m. on Saturday, Nov. 7, at participating Target stores. Shoppers can find the promotion on Target’s official holiday page, while The Krazy Coupon Lady’s Target event guide provides additional details.
Here’s what to know before heading out.
When: Saturday, Nov. 7, from noon to 4 p.m.
Where: Participating Target stores. Check the official store locator for local information.
Cost: Free, with no purchase required.
Limit: One keychain per guest, while supplies last.
Age requirements: Children under 16 must be accompanied by an adult.
The event also includes a demonstration of the new LEGO Christmas Stocking, opportunities to try Puppetronic Pikachu and the Mini Brands Tiny Vinyl Player in the toy department, and ideas for holiday wish lists.
The giveaway is first come, first served, and not every location necessarily participates. Checking the local store’s event details before making a trip could save shoppers a wasted drive.
Target is kicking off the holiday season in early November with free plush bear keychains.Bloomberg / Getty Images
Target is getting an early start on holiday shopping
The giveaway comes as Target ramps up its holiday offerings. In an Oct. 21 announcement, the retailer said it was introducing more than 8,000 new holiday gifts, with thousands priced at $5 or less.
Target also plans to offer a Deal of the Day every day from Nov. 1 through Dec. 24, with early Black Friday deals running Nov. 5-7. The free keychain event falls on the final day of that early deal window.
There’s also a timely reason to put toys in the spotlight. U.S. toy dollar sales rose 17% in the first half of 2026, the strongest first-half growth in six years, while unit sales increased 12%, according to Circana. Adult-only households accounted for 55% of toy sales, reflecting demand that extends well beyond children.
Black Friday has become a shopping season
Target has used free giveaways to attract shoppers on Black Friday, too. In 2025, the retailer offered limited-edition holiday totes to the first 100 guests in line at each store, with 10 shoppers per store receiving additional prizes valued between $99 and $350.
The promotion was part of Target’s broader effort to turn Black Friday into a multi-day shopping event. In its November 2025 announcement, Target Chief Commercial Officer Rick Gomez said, “Our guests are starting their holiday shopping earlier than ever, so we’re turning Black Friday into a multi-day celebration made just for them.”
This year, Black Friday falls on Nov. 27, but retailers are already competing for holiday spending weeks ahead of the date. The National Retail Federation expects holiday retail sales to reach $1.013 trillion in November and December, up 4.2% from 2025.
Target’s free bear keychain isn’t a Black Friday doorbuster. It’s an early holiday promotion aimed at getting shoppers into stores while they’re still building their gift lists. And with holiday shopping starting earlier each year, even a small freebie can give families one more reason to stop by.
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Macy’s $575 white sapphire tennis bracelet is on sale for 65% off
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Why we love this deal
An accessory, no matter how little, goes a long way, and while bracelets aren’t always what you think of when you think “statement jewelry”, tennis bracelets always deliver in that department. The standard strand of stones is classic and timeless, a longstanding style that is always on trend and looks good. Right now, shoppers on the search for one that’s affordable will be thrilled to see that the Macy’s Lab-Grown White Sapphire Tennis Bracelet is on sale for 65% off.
During the Macy’s Friends and Family sale, which ends November 3, the $575 tennis bracelet is on sale for $201. Save $374 and get the stunning accessory right now, either for yourself or as a gift to give during the upcoming holiday season.
Macy’s Lab-Grown White Sapphire Tennis, $201 (was $575) at Macy’s
Courtesy of Macy’s
Shop at Macy’s
Why do shoppers love it?
Crafted from sterling silver, or 18K gold-plated sterling silver if you opt for the gold color option, this bracelet starts with a durable base and only gets better. Measuring 7 ¼ inches long, this tennis bracelet features 42 lab-grown white sapphire stones, each set in a four-pronged setting, that wrap all the way around your wrist. Similar in appearance to lab-grown diamonds, white sapphires really only differ in composition, but appearance-wise they look almost identical. With 4-¼ ct. t.w. of white sapphire total, this bracelet is truly decked out to the nines and gives off a noticeable shine when exposed to natural or artificial lighting.
It has a box clasp closure with safety, which means it has a primary and a secondary latch as backup to prevent it from falling off. The box clasp is a two-part mechanism where one “tongue” slides into and hooks onto a box and clicks into place for a secure closure. The extra latch is in case the primary one breaks or comes undone, so you can rest easy knowing such an expensive piece would be hard to lose.
Related: Walmart’s $120 18K white gold-plated initial necklaces are 88% off
Details to know
Material: 4-¼ ct. t.w. lab-grown white sapphire and sterling silver (or 18K gold-plated sterling silver in the gold color option).
Length: Approximately 7 ¼ inches.
Colors: Two.
Clasp: Box clasp closure with safety.
Shoppers gush over this bracelet and are impressed with how well the 42 white sapphire stones glisten and shine. It’s a very impressive bracelet size-wise with so many diamond-like stones. “This white sapphire bracelet did not disappoint,” one shopper said. “The quality of the clasps, the sparkle of the sapphires, and the sterling silver encasing the sapphires was of the highest quality.” It’s very comfortable to wear and isn’t too heavy on the wrist.
Shop more deals
Forever Grown Diamonds Lab-Grown Diamond Bangle, $350 (was $1,000) at Macy’s
Macy’s Diamond Tennis Bracelet, $676 (was $2,400) at Macy’s
Macy’s Lab-Grown Gemstone and Lab-Grown White Sapphire Bracelet, $158 (was $450) at Macy’s
The perfect piece to accessorize with; there’s no better time to pick up the Macy’s Lab-Grown White Sapphire Tennis for yourself or as a gift than right now when it’s 65% off.
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