Mortgage Rates Average 7.40%
The survey covers home purchase loans for borrowers with excellent credit who put 20% down.
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Rhea-AI Summary
Freddie Mac (FMCC) released its weekly mortgage survey, showing the average 30-year fixed-rate mortgage rate reached 7.40%.
The 30-year rate rose from 7.28% last week and compared with 6.30% a year earlier. The average 15-year fixed-rate mortgage rate was 6.73%, up from 6.60% last week and compared with 5.53% a year earlier.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., Oct. 08, 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
“As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate and getting multiple quotes can potentially save them thousands over the loan’s lifetime,” said Sam Khater, Freddie Mac's Chief Economist.
News Facts
- The 30-year FRM averaged
7.40% as of October 8, 2026, up from last week when it averaged7.28% . A year ago at this time, the 30-year FRM averaged6.30% . - The 15-year FRM averaged
6.73% , up from last week when it averaged6.60% . A year ago at this time, the 15-year FRM averaged5.53% .
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put
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/e9bbb731-f3a3-4e8a-8f0b-6ef6fc7de3aa
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What mortgage rates did Freddie Mac report for October 8, 2026?
The average 30-year fixed-rate mortgage rate was 7.40%, and the average 15-year fixed-rate mortgage rate was 6.73%. Both were higher than their averages last week and a year earlier.
Which loans does Freddie Mac's mortgage rate survey cover?
The survey focuses on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. These are loans that meet conforming lending requirements and are paid off through scheduled payments over their term.