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Housing · October 29, 2026 · 1 min read

Freddie Mac: 30-year mortgage average falls to 7.24%

By Econ Data Tools Editorial Team

Published October 29, 2026 • Updated October 29, 2026

The October 29 PMMS puts the 30-year average at 7.24%, down from 7.32%. The 15-year average fell to 6.60%, but both remain above their year-earlier levels.

Freddie Mac reports that the 30-year fixed-rate mortgage averaged 7.24% as of October 29, down from 7.32% the previous week. The figures come from its latest Primary Mortgage Market Survey. The 15-year fixed-rate mortgage averaged 6.60%, down from 6.68%. Both measures declined by 0.08 percentage point, or eight basis points, from the previous weekly averages. Borrowing costs remain higher than a year earlier. Freddie Mac gives year-earlier averages of 6.17% for the 30-year mortgage and 5.41% for the 15-year mortgage. A weekly decline should not be confused with a return to those earlier levels. PMMS uses mortgage rates collected from purchase applications submitted through Freddie Mac's Loan Product Advisor. Its national average covers conventional, single-family originations within conforming loan limits. It is not an offer available to every borrower. The weekly release reflects application activity from the preceding Thursday through Wednesday, rather than a single Thursday quote. Freddie Mac says it no longer reports average fees and points because those fields are not always required in the underlying applications. The lower weekly average describes one part of financing conditions. It does not establish a particular buyer's annual percentage rate, closing costs or monthly payment. This release alone also does not prove a change in home sales, mortgage-to-Treasury spreads or Federal Reserve policy.

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