Freddie Mac: 30-Year Mortgage Rate Holds at 7.40% as 15-Year Slips to 6.71%
Freddie Mac's weekly survey shows the average 30-year fixed rate unchanged at 7.40% as of Oct. 15, while the 15-year average eased to 6.71%. Both remain more than a point above a year ago.
By Anthony Brikho · 3 min read
The average 30-year fixed mortgage rate held at 7.40% this week, according to Freddie Mac's Primary Mortgage Market Survey released Oct. 15, 2026 (Freddie Mac release). The 15-year fixed average slipped to 6.71% from 6.73% a week earlier.
| Loan | This week | Last week | A year ago |
|---|---|---|---|
| 30-year fixed | 7.40% | 7.40% | 6.27% |
| 15-year fixed | 6.71% | 6.73% | 5.52% |
Source: Freddie Mac Primary Mortgage Market Survey, Oct. 15, 2026. Percent, weekly national averages.
"The average 30-year fixed-rate mortgage remained unchanged this week," said Sam Khater, Freddie Mac's chief economist, in the release.
What changed from last week
Last week's survey put the 30-year average at 7.40%, its highest level since November 2023, as we reported on Oct. 9. This week's reading shows no further rise for the 30-year loan, while the 15-year average eased by two hundredths of a point. Compared with a year ago, both averages remain more than a full percentage point higher: 1.13 points for the 30-year and 1.19 points for the 15-year.
What the survey measures
The PMMS tracks conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit, according to Freddie Mac. It is a national weekly average. It is not a rate any single borrower is guaranteed to receive, and it does not include FHA, VA, jumbo or adjustable-rate loans.
A borrower with a smaller down payment, a lower credit score, a higher loan amount or a different loan type may see a different rate. Points, lender credits and the date a loan is priced can also change the number on a quote.
How loan officers and buyers can use it
For loan officers, a flat week is a useful talking point but not a forecast. Freddie Mac's figure describes a recent survey period, and lenders reprice daily as market conditions change. Comparing a client's actual quote with the survey's loan profile helps explain why the two may differ.
For buyers, the steady reading means monthly payment estimates built on last week's average have not moved for a standard 30-year loan. Getting written loan estimates from more than one lender on the same day remains the clearest way to compare offers.
Watch: This week's Freddie Mac rates in 15 seconds
Transcript (on-screen text, no narration; original instrumental music): This week's mortgage rates, Freddie Mac, released Oct. 15, 2026. 30-year fixed-rate mortgage, weekly average: 7.40%, unchanged from last week; a year ago 6.27%. 15-year fixed-rate mortgage, weekly average: 6.71%, down from 6.73% last week; a year ago 5.52%. What the survey measures: conventional, conforming, fully amortizing purchase loans, 20% down, excellent credit. A weekly national average, not a personal rate quote. Source: Freddie Mac PMMS, Oct. 15, 2026.
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Cover: Freddie Mac logo, via Wikimedia Commons (public domain). Freddie Mac trademark, shown for identification only.
