Summary
- Freddie Mac's 30-year fixed average was 7.40% as of October 15, 2026, unchanged from the prior week and up from 6.27% a year earlier.
- The 15-year average eased to 6.71% from 6.73%.
- A daily index showed the 30-year at 7.467% on October 20, with the 10-year Treasury yield near 5.08%.
- Freddie Mac's next reading is due October 22 at noon Eastern.
Weekly survey shows a plateau at 7.40%
The average rate on a 30-year fixed mortgage held at 7.40% in Freddie Mac's latest weekly survey, unchanged from the prior week, the company reported for the period ending October 15, 2026. A year earlier the same survey showed 6.27%. [1]
The 15-year fixed averaged 6.71%, down from 6.73% a week earlier and up from 5.52% a year ago, according to Freddie Mac. Freddie Mac publishes the survey on Thursdays at noon Eastern, and the next reading is due October 22. [1]
Trading Economics, which tracks the series, described the 7.40% reading as the highest level since November 2023 and the eighth straight week without a decline. It attributed the pause to a downward move in Treasury yields during the week. [2]
How the climb unfolded
Trading Economics reported the Freddie Mac 30-year average at 7.03% in the week before October 1, then 7.28% on October 1 and 7.40% on October 8. Trading Economics called the October 1 and October 8 readings the highest since November 2023. [2]
Daily indexes move faster than the weekly survey. Yahoo Finance, citing Mortgage News Daily, reported the average 30-year rate at 7.58% on Tuesday, September 29, up 8 basis points from Monday and its highest since November 2023. The same report put the 10-year Treasury yield at 5.28% that day and said rates had been 6.75% on August 26. [3]
The two measures differ because Freddie Mac averages rates from loan applications submitted Thursday through Wednesday, while daily indexes reflect lender pricing on a given day. [1]
Where rates stood on October 20
The Mortgage Reports, a consumer mortgage site, listed an average conventional 30-year fixed rate of 7.467% on October 20, up 0.01 percentage point on the day, with a 15-year at 6.836%. Its figures were taken at 8:31 a.m. Eastern. [4]
The same report said the 10-year Treasury yield eased to 5.081% from 5.106%, citing CNBC, and noted that mortgage rates often follow that yield. The site said lender quotes could drift slightly lower, but added that such a small move often leaves rates flat. [4]
What forecasters expect
Mike Fratantoni, chief economist at the Mortgage Bankers Association, said the group expects mortgage and Treasury rates "likely to come down from their recent peaks." The Mortgage Reports said he also expects rates to stay above earlier forecasts, weighing on origination volume through 2027. [4]
The Mortgage Reports listed MBA and Fannie Mae forecasts of 6.8% for the 30-year rate in the fourth quarter of 2026, well below current levels. Those figures are projections, not measurements. [4]
What is not known: the reason interest in mortgage rates rose on October 21 has not been established from these sources, and the October 22 Freddie Mac reading will show whether the plateau held. [1] [4]
Reporting sources
- Freddie Mac · Primary Mortgage Market Survey ↗2026-10-15T16:00:00Z
- Trading Economics · US Mortgage Rates Climb Further in October ↗2026-10-15T00:00:00Z
- Yahoo Finance · Mortgage rates hit 7.58%, approaching 3-year high ↗2026-09-29T16:56:00Z
- The Mortgage Reports · Mortgage Rates Little Changed as Treasury Yields Ease ↗2026-10-20T12:31:00Z
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