Freddie Mac: 30-Year Mortgage Rate Falls to 7.32%, First Decline in Nine Weeks
Freddie Mac on October 22 released the latest results of its Primary Mortgage Market Survey (PMMS): the 30-year fixed-rate mortgage averaged 7.32% as of October 22, 2026, down 0.08 percentage point from 7.40% the previous week, its first decline in nine weeks and its largest weekly drop since April. A year ago, the 30-year rate averaged 6.19%.
The 15-year fixed-rate mortgage averaged 6.68%, down slightly from 6.71% the previous week; a year ago it averaged 5.44%.
"The average 30-year fixed-rate mortgage declined this week, offering some relief to prospective homebuyers," said Sam Khater, Freddie Mac's chief economist.
The decline follows weeks of increases that had pushed mortgage rates to three-year highs. The PMMS focuses on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
Rates remain well above year-ago levels: a year earlier the 30-year averaged 6.19% and the 15-year 5.44%, lower by 1.13 and 1.24 percentage points respectively.
Published by GSM · USA (original Chinese edition)
Photo: 图：犹他州 Layton 的郊区住宅街道（资料图）。Pink Sherbet Photography（D Sharon Pruitt）摄，CC BY 2.0 授权，经维基共享资源。Photo: A suburban residential street in Layton, Utah (file photo), by Pink Sherbet Photography (D Sharon Pruitt), CC BY 2.0, via Wikimedia Commons.
