Mortgage Rates Decline Further to 7.24%
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 declined to 7.24%.
As of October 29, 2026, the 30-year rate was down from 7.32% last week but above 6.17% a year earlier. The average 15-year fixed-rate mortgage was 6.60%, down from 6.68% last week and above 5.41% a year earlier.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., Oct. 29, 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
“The average 30-year fixed-rate mortgage declined again this week, reaching its lowest level this month and modestly boosting purchasing power for prospective buyers,” said Sam Khater, Freddie Mac's Chief Economist.
News Facts
- The 30-year FRM averaged
7.24% as of October 29, 2026, down from last week when it averaged7.32% . A year ago at this time, the 30-year FRM averaged6.17% . - The 15-year FRM averaged
6.60% , down from last week when it averaged6.68% . A year ago at this time, the 15-year FRM averaged5.41% .
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/1f7f26fb-1cbc-4268-b85c-4a8ec8dd4216
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Freddie Mac's latest 30-year and 15-year mortgage rates?
Freddie Mac's survey showed average rates of 7.24% for 30-year fixed-rate mortgages and 6.60% for 15-year fixed-rate mortgages as of October 29, 2026. Both declined from the previous week but remained above their year-earlier levels.
What types of 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.