Housing · October 17, 2026 · 2 min read

Freddie Mac weekly survey holds 30-year mortgage average at 7.40%

Published October 17, 2026 • Updated October 17, 2026

Reviewed by Editorial QC

Freddie Mac's Primary Mortgage Market Survey put the average 30-year fixed-rate mortgage at 7.40 percent as of October 15, unchanged from the previous week. A year earlier the same average was 6.27 percent. The survey is a weekly average of rates lenders offer to well-qualified borrowers, not the rate any individual buyer will be quoted. The 15-year fixed-rate mortgage averaged 6.71 percent in the same release, compared with 5.52 percent a year ago. Shorter-term fixed loans carry lower average rates but higher monthly payments, and the survey averages do not include most fees or points a lender may charge. PMMS is published weekly and reflects applications and offerings in the days before each Thursday release, so it is a lagging snapshot rather than a live market quote. Rates available to a specific borrower depend on credit, down payment, loan size, property type and location. Because the 30-year average is unchanged from last week, this release does not show a new move in either direction. A weekly average holding steady can still mask day-to-day movement in the bond markets that mortgage pricing follows. Comparisons to a year ago come from Freddie Mac's own historical series. The year-ago figures describe the same survey's averages then; they do not measure any individual homeowner's current rate, most of which were set in earlier, lower-rate periods. For households, the practical reading is that financing costs remain well above their year-ago level, and one unchanged week is not evidence of a turning point. Freddie Mac's methodology notes and historical tables are linked so readers can verify the averages and check how the survey defines its sample.

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