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Housing · October 24, 2026 · 2 min read

Freddie Mac: average 30-year mortgage rate falls to 7.32% in October 22 survey

By Econ Data Tools Editorial Team

Published October 24, 2026 • Updated October 24, 2026

Reviewed by Instinct source QC

The weekly 30-year fixed mortgage average fell from 7.40% to 7.32%; the 15-year average declined from 6.71% to 6.68%. Both remained above their year-earlier levels.

The average 30-year fixed-rate mortgage was 7.32% as of October 22, 2026, down from 7.40% a week earlier, according to Freddie Mac's Primary Mortgage Market Survey. The 15-year fixed-rate average fell to 6.68% from 6.71%. The weekly declines do not erase the year-over-year increase in financing costs. Freddie Mac reports a 6.19% average for the 30-year mortgage at the same time last year and 5.44% for the 15-year loan. The current figures are survey averages, not a guaranteed rate available to every borrower. PMMS uses rates from mortgage applications submitted to Freddie Mac through its Loan Product Advisor system by lenders across the country. Its criteria cover conventional, single-family originations with conforming loan limits set by the Federal Housing Finance Agency. The lender mix includes credit unions, commercial banks and mortgage lending companies. Freddie Mac publishes PMMS weekly on Thursdays at noon Eastern. The rates average applications from the prior Thursday through Wednesday; they are not a snapshot of a single day's lender quotes. A borrower comparing an offer should account for the product and terms rather than treat this weekly average as a personal quote. This update reports the mortgage survey itself. It does not infer a same-day Treasury spread, a Federal Reserve policy decision, the share of homeowners locked into low-rate loans or future house-price moves from the rate data. Source: Freddie Mac, Primary Mortgage Market Survey, October 22, 2026.

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