Mortgage Rates Average 6.51%

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported in its latest Primary Mortgage Market Survey that the average 30-year fixed-rate mortgage was 6.51% as of May 21, 2026, up from 6.36% a week earlier and below 6.86% a year ago.

The 15-year fixed-rate mortgage averaged 5.85%, compared with 5.71% last week and 6.01% one year earlier. The PMMS tracks conventional, conforming, fully amortizing home purchase loans with 20% down and excellent credit, offering a benchmark for borrowers and housing-market watchers.

AI-generated analysis. Not financial advice.

MCLEAN, Va., May 21, 2026 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.51%.

“The 30-year fixed-rate mortgage averaged 6.51% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “As rates fluctuate, aspiring buyers should remember that by shopping around for the best mortgage rate and getting multiple quotes, they can potentially save thousands."

News Facts

• The 30-year FRM averaged 6.51% as of May 21, 2026, up from last week when it averaged 6.36%. A year ago at this time, the 30-year FRM averaged 6.86%.
• The 15-year FRM averaged 5.85%, up from last week when it averaged 5.71%. A year ago at this time, the 15-year FRM averaged 6.01%.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Mollie Laniado
(571)382-1784
Mollie_Laniado@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b523fd43-b06e-4c92-8212-d06554ebc49b

 

FAQ

What is the average 30-year mortgage rate as of May 21, 2026, according to Freddie Mac (FMCC)?

The average 30-year fixed-rate mortgage was 6.51% as of May 21, 2026. According to Freddie Mac, this compares with 6.36% a week earlier and 6.86% one year ago, giving borrowers context on recent mortgage rate movements.

How did 30-year mortgage rates change versus last week and last year in Freddie Mac's May 21, 2026 PMMS for FMCC?

The 30-year fixed mortgage rate rose to 6.51% from 6.36% last week and was below 6.86% a year ago. According to Freddie Mac, this shows a short-term increase but slightly lower levels compared with the same week in the prior year.

What is the average 15-year mortgage rate in Freddie Mac's May 21, 2026 survey for FMCC?

The average 15-year fixed-rate mortgage was 5.85% as of May 21, 2026. According to Freddie Mac, this is up from 5.71% the prior week yet below the 6.01% average one year earlier, helping borrowers compare shorter-term loan costs over time.

What types of loans are included in Freddie Mac's Primary Mortgage Market Survey (PMMS) for FMCC?

Freddie Mac's PMMS covers conventional, conforming, fully amortizing home purchase loans. According to Freddie Mac, the survey assumes borrowers make a 20% down payment and have excellent credit, making the reported average mortgage rates a benchmark for well-qualified homebuyers.

How can homebuyers use Freddie Mac's May 21, 2026 PMMS mortgage rates from FMCC when shopping for a loan?

Homebuyers can use PMMS averages as a benchmark when comparing lender offers for 30- and 15-year mortgages. According to Freddie Mac, shopping around and getting multiple quotes can help borrowers potentially save thousands of dollars over the life of their home loan.