Mortgage Rates Average 6.37%

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported its Primary Mortgage Market Survey results for the week ending May 7, 2026. The 30-year fixed-rate mortgage averaged 6.37%, up from 6.30% last week and down from 6.76% a year ago. The 15-year FRM averaged 5.72%, up from 5.64% last week and down from 5.89% a year ago.

Freddie Mac highlighted higher inventory, a boost in new-home sales, and median new-home prices at their lowest since July 2021, which could modestly ease affordability pressures this spring.

AI-generated analysis. Not financial advice.

Positive

• 30-year FRM 6.37% year-over-year improvement from 6.76%
• Median new-home prices at lowest level since July 2021
• Higher housing inventory supporting buyer choice this spring

Negative

• 30-year FRM rose week-over-week from 6.30% to 6.37%
• 15-year FRM increased week-over-week from 5.64% to 5.72%

News Market Reaction – FMCC

-3.77%

1 alert

-3.77% News Effect

On the day this news was published, FMCC declined 3.77%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MCLEAN, Va., May 07, 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 6.37%.

“The 30-year fixed-rate mortgage averaged 6.37% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Recent data points to slightly better conditions for buyers with a boost in new-home sales, median new-home prices being down to their lowest level since July 2021, and higher inventory than in recent years. Together, these trends could modestly ease affordability pressures through the spring homebuying season.”

News Facts

• The 30-year FRM averaged 6.37% as of May 7, 2026, up from last week when it averaged 6.30%. A year ago at this time, the 30-year FRM averaged 6.76%.
• The 15-year FRM averaged 5.72%, up from last week when it averaged 5.64%. A year ago at this time, the 15-year FRM averaged 5.89%.

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/43f4785f-905d-4a2c-9487-9db98e25ff5e

FAQ

What did Freddie Mac (FMCC) report for the 30-year mortgage rate on May 7, 2026?

The 30-year fixed-rate mortgage averaged 6.37% on May 7, 2026. According to Freddie Mac, that is up from 6.30% last week and down from 6.76% one year earlier.

How did the 15-year mortgage rate (FMCC) change on May 7, 2026?

The 15-year fixed-rate mortgage averaged 5.72% on May 7, 2026. According to Freddie Mac, that is an increase from 5.64% the prior week and below the 5.89% level from a year ago.

What does the May 7, 2026 FMCC report say about housing inventory and prices?

Freddie Mac reported higher inventory and a boost in new-home sales, with median new-home prices at their lowest since July 2021. According to Freddie Mac, these trends could modestly ease affordability pressures this spring.

How should homebuyers interpret FMCC's May 7, 2026 mortgage rate update?

Rates were mixed: week-over-week rates rose slightly but remain below last year’s levels. According to Freddie Mac, improving inventory and lower median new-home prices may modestly ease affordability for buyers this season.

Where can investors find Freddie Mac's Primary Mortgage Market Survey details for May 7, 2026?

Freddie Mac publishes the PMMS weekly on its website with full rate tables and FAQs. According to Freddie Mac, the survey focuses on conventional, conforming loans for borrowers with 20% down and excellent credit.