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Mortgage Rates Average 7.40%

October 8, 2026 / Source: Freddie Mac

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 7.40%.

“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 averaged 7.28%. A year ago at this time, the 30-year FRM averaged 6.30%.
  • The 15-year FRM averaged 6.73%, up from last week when it averaged 6.60%. A year ago at this time, the 15-year FRM averaged 5.53%.

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.