Mortgage Rates Decline Further to 7.24%
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 7.24%.
“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 averaged 7.32%. A year ago at this time, the 30-year FRM averaged 6.17%.
- The 15-year FRM averaged 6.60%, down from last week when it averaged 6.68%. A year ago at this time, the 15-year FRM averaged 5.41%.
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/1f7f26fb-1cbc-4268-b85c-4a8ec8dd4216
Primary Mortgage Market Survey®
U.S. weekly average mortgage rates as of 10/29/2026
The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
5 Stocks to Buy Trading at Big Discounts
2 Undervalued Stocks to Buy With Long-Term Growth Ahead
What 7 Key Market Indicators Are Telling Investors Right Now
Don’t Overlook the Income Side of Fixed Income
United States