Mortgage rate holds at 7.4%, a series high
Freddie Mac's October 15 survey shows the average 30-year fixed mortgage rate unchanged at 7.4%, matching the highest level recorded since the count began in October 2024.
The average 30-year fixed mortgage rate held at 7.4% the week of October 15, 2026, the highest it has been since the count began in October 2024 Mortgage Rates — national, weekly +1. The 15-year fixed rate slipped to 6.71% Mortgage Rates — national, weekly. Freddie Mac's survey reflects national averages, not what any single lender in New Carlisle offers Mortgage Rates — national, weekly.
Rates hold at a new high
This is the second straight week at 7.4%, a level the series has not reached since the count began in October 2024 Mortgage Rates — national, weekly. The 30-year rate was unchanged from the week of October 8, when it also stood at 7.4% Mortgage Rates — national, weekly. The 15-year rate eased slightly, down from 6.73% the week before Mortgage Rates — national, weekly +1. It sits well above the 6.57% average for the entire series, and far from the series low of 5.98% reached the week of February 26, 2026 Mortgage Rates — national, weekly.
A climb since late summer
The rate has risen most weeks since late August, when it stood at 6.66% Mortgage Rates — national, weekly. It climbed through September, reaching 6.95% by September 17 Mortgage Rates — national, weekly. By October 1 it was at 7.28%, then matched this week's 7.4% the week of October 8 Mortgage Rates — national, weekly +1. Since the series began in October 2024, the rate has climbed by 0.68 percentage points, moving higher overall Mortgage Rates — national, weekly.
By the numbers
- 7.4% — 30-year fixed average, week of October 15, 2026, matching the week before Mortgage Rates — national, weekly +1
- 6.71% — 15-year fixed average for the same week Mortgage Rates — national, weekly
- 6.72% — the rate when the series began, week of October 31, 2024 Mortgage Rates — national, weekly
- 5.98% — the series low, week of February 26, 2026 Mortgage Rates — national, weekly
- 6.57% — the average for the entire series Mortgage Rates — national, weekly
This report is based on Freddie Mac's weekly mortgage rate survey as published through the Federal Reserve Bank of St. Louis's FRED database, including the October 15, 2026 release and weekly readings back to October 2024 Mortgage Rates — national, weekly +7.
Sources
The source filing
| Week of | October 15, 2026 |
|---|---|
| 30-year fixed rate | 7.4% |
| 15-year fixed rate | 6.71% |
| Change from previous week (30-year) | +0.00 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.