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U.S. 30-year mortgage rate eases to 7.32%, still above 7%
Freddie Mac said Thursday the average 30-year fixed mortgage rate fell to 7.32% from 7.40% the prior week, remaining well above a year earlier.
- New headline Was: “Mortgage Rates Remain Above 7%, Pushing Home Prices Lower in Some Areas”
- Our desk filed its story
Primary source: Freddie Mac Primary Mortgage Market Survey
Freddie Mac said Thursday, Oct. 22, 2026, that the average U.S. 30-year fixed mortgage rate was 7.32%, down from 7.40% the week before1.
The same survey put the 15-year fixed average at 6.68%, down from 6.71%1. A year earlier, the 30-year average was 6.19% and the 15-year average was 5.44%1.
The New York Times reported the same 7.32% 30-year figure and said prospective buyers still face high borrowing costs, with home prices starting to fall in some areas2. Those price details were not in Freddie Mac's survey release1,2.
Freddie Mac's survey is an average of conventional, conforming purchase applications collected the prior Thursday through Wednesday and published at noon ET on Thursdays1. No other primary data series was cited in the assignment beyond that weekly print1,2.
Sources
How it’s being reported
2 versions from 1 sourceMortgage Rates Decrease to 7.32%
The weekly rate print and year-ago comparison.
Official weekly survey: 30-year average 7.32%, down from 7.40%; 15-year 6.68%.
Leaves out Local home-price declines discussed in newspaper coverage.
Mortgage Rates Remain Above 7%, Pushing Home Prices Lower in Some Areas
Leads with a figure in the headline.