Freddie Mac: 30-Year Rate Holds at 7.40%, Ending a Seven-Week Climb

The weekly benchmark stopped climbing, at least for now. Freddie Mac's Primary Mortgage Market Survey put the average 30-year fixed-rate mortgage at 7.40% for the week ending Oct. 15, 2026, unchanged from the previous week, according to Freddie Mac's release. The 15-year fixed averaged 6.71%, down from 6.73%.

Both rates remain well above a year ago. The 30-year was 6.27% at this time last year and the 15-year was 5.52%, so a buyer financing today is paying more than a full point more than a buyer last fall on the most common loan.

Coverage of the release noted the flat reading ends a seven-week climb and leaves the average at its highest since November 2023. Bond-market moves late in the week, including a drop in the 10-year Treasury yield on Oct. 15, had not yet fed into the survey, which is collected before its Thursday release.

The survey covers conventional, conforming purchase loans for borrowers with 20% down and excellent credit, so individual quotes in the South Bay will vary with credit, loan size and property type. Jumbo and less-than-perfect-credit pricing will generally sit above this benchmark.

For South Bay buyers and sellers, a flat week is useful mainly as planning stability: pricing a purchase or a listing around the mid-7s, rather than waiting for a quick drop, remains the safer assumption while the weekly average sits at a near-three-year high.

Source: Freddie Mac Primary Mortgage Market Survey via GlobeNewswire, Oct. 15, 2026 - https://www.tradingview.com/news/globenewswire:d0807bceb094b:0-mortgage-rates-hold-steady-at-7-40/

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