Mortgage Rates Pause at 7.40% for 30-Year Loans as Seven-Week Climb Ends
Freddie Mac released its Primary Mortgage Market Survey (PMMS) from McLean, Virginia, on October 15. The 30-year fixed-rate mortgage averaged 7.40% for the week ending October 15, 2026, unchanged from last week; a year ago it averaged 6.27%. The 15-year fixed-rate mortgage averaged 6.71%, down from 6.73% the prior week, compared with 5.52% a year ago. 'The average 30-year fixed-rate mortgage remained unchanged this week,' said Sam Khater, Freddie Mac's chief economist. The PMMS covers conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
Separately, the Mortgage Bankers Association reported that mortgage application volume fell 2.7% on a seasonally adjusted basis in the week ending October 9. Purchase applications fell 4% and ran 16% below year-ago levels; refinance applications slipped 0.4% and were 56% lower than a year earlier. The average 30-year fixed rate in the MBA survey edged up to 7.50%, its highest since November 2023, and adjustable-rate loans accounted for 10.5% of applications, the highest share since October 2025. (GSM, from Freddie Mac PMMS and MBA data)
Source: GSM · USA (original Chinese edition)
Photo: 美国郊区住宅区航拍（资料图） / Aerial view of a U.S. suburban neighborhood (file photo). Photo: DPLA via Wikimedia Commons, Public domain.
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