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Housing · October 9, 2026 · 2 min read

Freddie Mac's October 8 mortgage average reaches 7.40%; separate MBA survey shows fewer applications

By Econ Data Tools Editorial Team

Published October 9, 2026 • Updated October 9, 2026

Reviewed by Instinct editorial QC

The dated archive reports the October 8 rate; MBA application figures cover the week ending October 2. The separate surveys are not personal loan quotes.

Freddie Mac's dated archive reports a 7.40 percent average for 30-year fixed mortgages on October 8, compared with 7.28 percent on October 1. The 15-year average rose from 6.60 percent to 6.73 percent. These are weekly national survey averages, not a personal lender quote. Freddie Mac says its Primary Mortgage Market Survey uses mortgage-rate information from applications submitted through Loan Product Advisor. The survey reflects the prior Thursday through Wednesday, rather than the rate charged on a single day. Its criteria focus on conventional, single-family loans within conforming limits. A separate Mortgage Bankers Association release dated October 7 covers the week ending October 2. Its seasonally adjusted Market Composite Index of application volume fell 4.2 percent from the previous week; the unadjusted index fell 4 percent. The different reference period and survey design matter when comparing it with Freddie Mac. MBA's refinance index fell 8 percent week over week and was 56 percent below the same week a year earlier. Its seasonally adjusted purchase index fell 2 percent; the unadjusted purchase index fell 2 percent weekly and 15 percent annually. These measures track applications, not completed home sales or approved loans. MBA reported a 7.49 percent average contract rate for 30-year fixed mortgages with conforming balances in its survey, up from 7.30 percent. It also reported 0.84 points, including the origination fee, for 80 percent loan-to-value loans. That rate and its fees should not be substituted for Freddie Mac's separate 7.40 percent average. The two releases give different views of borrowing conditions: one measures weekly mortgage-rate averages and the other measures application activity. Neither establishes why every borrower applied or stopped applying, and neither predicts the next Federal Reserve decision. An individual loan offer can differ by borrower, property, lender and fees.

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