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Housing · November 5, 2026 · 2 min read

Freddie Mac reports 7.18% thirty-year mortgage rate, still above a year ago

By Econ Data Tools Editorial Team

Published November 5, 2026 • Updated November 5, 2026

The weekly average fell from 7.24%, while the fifteen-year rate eased to 6.57%. PMMS averages are not a personal loan offer or an APR including every fee.

Freddie Mac reported on November 5 that the average thirty-year fixed-rate mortgage was 7.18%, down from 7.24% the previous week. The company describes this as a third consecutive weekly decline. The rate was still higher than the 6.22% average reported a year earlier. The fifteen-year fixed-rate mortgage averaged 6.57%, down from 6.60% the previous week. Its year-earlier average was 5.50%. Both loan types eased over the latest week while remaining above their corresponding year-earlier levels. The figures come from Freddie Mac's Primary Mortgage Market Survey, or PMMS. They describe market averages, not a rate offered to every borrower. A household's actual offer depends on its loan and borrower characteristics and the lender's terms. Freddie Mac says its current method uses mortgage applications submitted to its Loan Product Advisor system rather than the former lender survey. It also says fees and points are not always supplied under the current requirements, so it cannot report their average. The headline interest rate should not be treated as an all-in borrowing cost. A lower interest rate can reduce the interest component of a comparable loan payment, but this release does not establish that a particular home has become affordable. The purchase price, loan amount, taxes, insurance and other charges still matter. The release gives no personalized payment quote. For buyers comparing offers, the distinction is between the weekly benchmark and the full terms of an actual loan. The latest decline does not guarantee another decline next week, nor does it establish a Federal Reserve decision. Freddie Mac's own year-earlier comparison also shows why a short weekly easing is different from a year-over-year fall.

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