Mortgage rates ease to 7.32% after weeks of gains
Freddie Mac's survey shows the average 30-year mortgage rate slipping to 7.32% this week after six weeks of increases pushed it to its highest point since the series began.
The average rate on a 30-year fixed mortgage eased to 7.32% the week of October 22, 2026, down from 7.4% the week before, according to Freddie Mac's weekly survey of lenders Mortgage Rates — national, weekly +1. The dip follows a run of weekly increases that had pushed the rate to its highest point since Freddie Mac's count began in October 2024 Mortgage Rates — national, weekly +1.
A climb, then a pullback
The rate climbed steadily through September, reaching 7.4% the week of October 8 and holding there the week after Mortgage Rates — national, weekly +1. The slide this week marks a decline of 0.08 percentage points, the first pullback after that climb Mortgage Rates — national, weekly +1. The climb traces back to late August, when the rate stood at 6.66% Mortgage Rates — national, weekly.
Where this rate sits historically
This week's 7.32% remains below the series high of 7.4%, reached the week of October 15, 2026, but it sits well above where the rate started Mortgage Rates — national, weekly +1. The rate has risen by 0.6 percentage points since the count began on October 31, 2024, when it stood at 6.72% Mortgage Rates — national, weekly. The average over that span is 6.57%, so this week's rate stays above the norm for the period Mortgage Rates — national, weekly. The lowest point in that stretch was 5.98%, recorded the week of February 26, 2026 Mortgage Rates — national, weekly.
A national number, not a local one
The 15-year fixed rate, often used for refinancing, averaged 6.68% this week, down from 6.71% the week before Mortgage Rates — national, weekly +1. These figures are national averages from Freddie Mac's survey of lenders, not the rate any single lender in New Carlisle is offering Mortgage Rates — national, weekly.
By the numbers
- 30-year fixed: 7.32%, down from 7.4% the week before Mortgage Rates — national, weekly +1
- 15-year fixed: 6.68%, down from 6.71% the week before Mortgage Rates — national, weekly +1
- Series high: 7.4%, the week of October 15, 2026 Mortgage Rates — national, weekly +1
- Series low: 5.98%, the week of February 26, 2026 Mortgage Rates — national, weekly
- Average since October 2024: 6.57% Mortgage Rates — national, weekly
- Up 0.6 percentage points since the count began, from 6.72% Mortgage Rates — national, weekly
These figures come from Freddie Mac's weekly Primary Mortgage Market Survey, as published through the Federal Reserve Bank of St. Louis's FRED database, covering the week of October 22, 2026 Mortgage Rates — national, weekly.
Sources
The source filing
| Week of | October 22, 2026 |
|---|---|
| 30-year fixed rate | 7.32% |
| 15-year fixed rate | 6.68% |
| Change from previous week (30-year) | -0.08 percentage points |
| Area | United States, national average |
Published by Freddie Mac, Primary Mortgage Market Survey, via FRED (Federal Reserve Bank of St. Louis). This is the agency's public filing as The Lantern received it, shown with its fields named in plain English.