India, Sept. 29 -- The average US interest rate for a 30-year fixed-rate conventional mortgage is now 7.373%. The rate has moved slightly higher from the previous report, when the average 30-year mortgage rate was 7.361%.

The latest mortgage rate data comes from Mortgage Research Center (MRC), according to Fortune. At a 7.373% interest rate, a homebuyer borrowing $300,000 for 30 years would pay about $445,778.38 in interest over the full life of the loan.

This means the interest alone would be higher than the original $300,000 borrowed. The total amount paid toward the loan would be roughly $745,778.38, before considering other costs such as taxes, insurance and fees. The calculation was made using a mortgage calculator provided by the ...