Current mortgage rates: Freddie Mac weekly average
The benchmark 30-year and 15-year fixed mortgage rates from Freddie Mac’s weekly survey, and what actually sets the rate you are offered.
Sourced from official pages · Updated September 30, 2026💡 Key takeaways
- Freddie Mac’s weekly survey shows 7.03% for a 30-year fixed and 6.42% for a 15-year fixed (week of 24 September 2026).
- These are national averages, not offers; your rate depends on your credit, down payment and loan type.
- Compare the APR and fees on Loan Estimates, not just the headline rate.
- Rates change weekly; check the source for the latest reading.
This week’s benchmark
| Loan | Average rate | Survey week |
|---|---|---|
| 30-year fixed-rate mortgage | 7.03% | 24 September 2026 |
| 15-year fixed-rate mortgage | 6.42% | 24 September 2026 |
Freddie Mac’s Primary Mortgage Market Survey (PMMS) is published weekly on Thursdays and is an average of rates on thousands of loan applications submitted to Freddie Mac through Loan Product Advisor from lenders across the country. It is a benchmark, not an offer: your rate will differ.
What sets your rate
- Your credit profile: score, history and debts.
- Down payment and loan-to-value: a larger down payment generally lowers risk and can lower the rate.
- Loan type and term: conventional, FHA, VA and USDA loans are priced differently; 15-year loans usually have lower rates than 30-year loans.
- Points and lender credits: you can pay discount points to lower the rate, or take a lender credit for a higher rate.
- Property and occupancy: primary homes are usually priced better than second homes or investment properties.
Compare offers the right way
Get Loan Estimates from several lenders on the same day and compare the APR and the fee sections. Then use the mortgage calculator to see the full monthly payment with taxes, insurance and PMI, and the points break-even calculator to check whether paying points makes sense.
How a small rate difference changes your payment
Using the mortgage calculator on a $320,000, 30-year loan at the 7.03% benchmark, principal and interest is about $2,135.42 per month. A lower or higher rate changes that by a noticeable amount, which is why rate shopping matters. Try your own numbers in the mortgage calculator.
Rate vs APR
The interest rate sets the interest cost of the loan. The APR includes some lender fees as well, so it lets you compare offers with different fees. See APR vs APY.
Rate locks
A rate lock keeps your quoted rate for a set period while your loan is processed. Ask the lender how long the lock lasts, what it costs and what happens if closing is delayed.
🔤 Key terms you will see on a rate sheet
| Term | Meaning |
|---|---|
| Interest rate | The yearly cost of borrowing the loan amount, before fees |
| APR | The yearly cost including certain lender fees, so it is higher than the rate when there are fees |
| Points | Optional fees paid up front (1% of the loan each) to lower the rate |
| Rate lock | A promise to hold your quoted rate for a set number of days |
| Loan-to-value (LTV) | Loan amount divided by the home’s value; lower LTV usually means better pricing |
| Debt-to-income (DTI) | Monthly debt payments divided by monthly income; lenders set limits |
A step-by-step way to shop rates
- Check your credit reports and fix errors before you apply.
- Decide the loan type, term and down payment you want quoted.
- Request Loan Estimates from at least three lenders on the same day.
- Compare rate, APR and origination charges side by side.
- Ask each lender about rate-lock length and cost.
- Choose, lock the rate and keep your finances stable until closing.
Scenarios: what to do when rates move
| Scenario | Things to consider |
|---|---|
| Rates rise before you lock | Ask if a larger down payment, a different term or paying points changes the math; lock as soon as you are comfortable with the payment |
| Rates fall after you close | You may consider a refinance if the savings beat the closing costs; see the refinance guide |
| You are not ready to buy yet | Improve your credit and savings, and use the affordability calculator to set a target price |
⚠️ Common mistakes to avoid
- Treating the weekly average as the rate you will get.
- Comparing rates from lenders that quote different points or fees.
- Waiting for rates to fall while a house price or competition rises.
- Skipping the Loan Estimate and relying on advertised rates.
🛠️ Try it yourself
❓ Frequently asked questions
How often does Freddie Mac publish rates?
Weekly, on Thursdays.
Why is my quoted rate different from the average?
Your credit profile, down payment, loan type, points and property all affect the rate.
Are 15-year rates lower than 30-year rates?
Usually yes, as in the current survey (6.42% vs 7.03%).
Should I pay points to lower my rate?
It depends on how long you keep the loan; use the points break-even calculator.
What is Freddie Mac’s survey based on?
An average of rates on thousands of loan applications submitted to Freddie Mac by lenders across the country, published weekly.
Why is APR higher than the rate?
Because APR includes certain lender fees along with interest.
📚 Sources
This guide is general information, not financial, tax or legal advice. Rules and limits change; confirm with the sources above or a licensed professional.