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Fourth straight PMMS climb to 7.03% (week of September 24, 2026)

Freddie Mac's 30-year average rose to 7.03% on September 24, 2026, a fourth straight climb. Bankrate was 7.17%. Mortgage News Daily's index was 7.37%.

Published: 2026-09-24

Key takeaways

  • Freddie Mac's PMMS as of September 24, 2026 put the 30-year fixed at 7.03% (up 0.08 from 6.95%) and the 15-year fixed at 6.42% (up 0.16 from 6.26%). A year earlier those weekly averages were 6.30% and 5.49%. This is a fourth consecutive Thursday climb: 6.71%, 6.76%, 6.95%, then 7.03%.
  • Mortgage News Daily's daily index observed September 24, 2026 showed 30-year fixed at 7.37% (up 0.11 on the day) and 15-year fixed at 7.00% (up 0.13). Thursday's index finished above Wednesday's 7.26% top-tier average.
  • Bankrate's national averages as of Thursday, September 24, 2026 at 6:30 a.m. put 30-year fixed at 7.17% interest, up 0.10% versus last week, and 15-year fixed at 6.54% interest, up 0.15% versus last week. That strip states APR is not included.
  • Matthew Graham at Mortgage News Daily wrote on September 23 that the average top-tier 30-year fixed rate jumped 0.09% to 7.26%, matching the early 2025 high, and that you would have to go back to May 1, 2024 to see anything higher. The same piece said 10-year yields jumped over 5.1%.
  • Put 7.03% next to 7.17% and 7.37%: the first is the Thursday survey, and the other two are closer to many rate sheets this week.

Fourth straight PMMS climb to 7.03% (week of September 24, 2026)

Published: September 24, 2026

Freddie Mac's weekly survey moved above 7% on the fourth straight Thursday climb. The Primary Mortgage Market Survey printed 7.03% for the 30-year fixed on September 24, 2026, up 0.08 from 6.95% last Thursday. The prior Thursday prints in this run were 6.71%, then 6.76%, then 6.95%. A year earlier the same weekly average was 6.30%.

Bankrate's national average was 7.17% the same morning. Mortgage News Daily's daily index showed 7.37% on September 24, up 0.11 on the day. Put 7.03% next to 7.17% and 7.37%: the first is the Thursday survey, and the other two are closer to many rate sheets this week.

What are 30-year and 15-year mortgage rates this week?

Freddie Mac's Primary Mortgage Market Survey (PMMS) as of September 24, 2026 put the 30-year fixed-rate mortgage at 7.03%, up from 6.95% the week before, and the 15-year fixed at 6.42%, up from 6.26%. A year earlier, those weekly averages were 6.30% and 5.49%. Freddie Mac said: "The 30-year fixed-rate mortgage averaged 7.03% as of September 24, 2026, up from last week when it averaged 6.95%. A year ago at this time, the 30-year FRM averaged 6.30%."

PMMS publishes Thursdays at 12 p.m. ET and averages loan rates offered the prior Thursday through Wednesday. Freddie Mac also said the housing market remains supported by a solid labor market and an economy that is growing at a healthy rate.

Mortgage News Daily's daily index observed September 24, 2026 showed a 30-year fixed rate of 7.37%, up 0.11 on the day, and a 15-year fixed rate of 7.00%, up 0.13. Both weekday prints sit above the weekly survey.

Bankrate's national averages as of Thursday, September 24, 2026 at 6:30 a.m. put the 30-year fixed at 7.17% interest, up 0.10% versus last week, and the 15-year fixed at 6.54% interest, up 0.15% versus last week. Bankrate labels that strip as interest, with APR not included.

Rate note: these are national averages for education only, not a quote or a rate promise. Your actual rate depends on credit score, down payment, loan type, discount points, and the day you lock.

What moved mortgage rates this week?

Four Thursday prints now mark the climb: 6.71%, then 6.76%, then 6.95%, then 7.03%. This week's 30-year step is 0.08, or 8 basis points, smaller than last week's 0.19 jump from 6.76% to 6.95%, and still a fourth consecutive increase. The 15-year weekly average rose from 6.26% to 6.42%.

Weekday sheets were already at a multi-year high before Thursday's survey. Matthew Graham's September 23 article, Mortgage Rates Match Highest Level Since May 2024, at Mortgage News Daily, described stronger-than-expected data as tail risk. Graham wrote: "The average top-tier 30yr fixed rate jumped 0.09% to 7.26%. This matches the high seen in early 2025. At this point, we'd have to go back to May 1, 2024 to see anything higher."

In that same piece, Graham wrote that the data were so much stronger than expected as to constitute "tail risk" territory. He wrote that Fed speakers had reminded markets that if the economy proved hotter than expected, the rate hike outlook shared at last week's Fed announcement would be "too low." He also wrote that 10-year Treasury yields jumped over 5.1%. Thursday's daily index then printed 7.37%, up 0.11 on the day, above Wednesday's 7.26% top-tier average.

Two documented differences still sit between the survey and the daily sheets. PMMS averages rates offered from the prior Thursday through Wednesday, so the Thursday noon ET release can lag weekday sheets. Mortgage News Daily's daily index also accounts for upfront costs. The PMMS survey rate does not.

What does this mean if you are buying or refinancing?

If you are comparing written offers this week, put the 7.03% PMMS figure next to Bankrate's 7.17% and Mortgage News Daily's 7.37%. The gap between 7.03% and 7.37% is 0.34 percentage points, and that changes principal and interest on the same loan amount. Our mortgage payment calculator can show that difference before you compare APR, points, and fees.

If you are refinancing, a weekday index near 7.37% changes the payment comparison versus last week's 6.95% weekly print. The same loan amount at 7.03% and at 7.37% is a comparison of national averages, not a personal offer.

Treat lock versus float as a risk choice, not a recommendation. Locking removes uncertainty about the final rate. Floating leaves room if pricing improves, and it also leaves you exposed if rates rise before closing. Neither choice guarantees a better outcome.

Disclaimer: this weekly update is for general education. It is not financial advice, and it is not a commitment to lend. Real mortgage offers vary by lender, credit profile, down payment, points and fees, and market conditions.

Sources

  1. Freddie Mac: Primary Mortgage Market Survey (PMMS) as of September 24, 2026 - https://www.freddiemac.com/pmms
  2. Mortgage News Daily: Today's Mortgage Rates - Daily Index (September 24, 2026) - https://www.mortgagenewsdaily.com/mortgage-rates
  3. Mortgage News Daily: Mortgage Rates Match Highest Level Since May 2024 (Matthew Graham, September 23, 2026) - https://www.mortgagenewsdaily.com/markets/mortgage-rates-09232026
  4. Bankrate: Current Mortgage Rates (September 24, 2026, 6:30 a.m.) - https://www.bankrate.com/mortgages/mortgage-rates/

Frequently asked questions

Why is Freddie Mac's 7.03% lower than Mortgage News Daily's 7.37% this week?

They measure different things on different calendars. Freddie Mac's PMMS as of September 24, 2026 averaged Thursday-through-Wednesday application rates at 7.03% for 30-year fixed. Mortgage News Daily's September 24 daily index was 7.37%. That index accounts for upfront costs. The PMMS survey rate does not.

Did mortgage rates go up or down this week?

They went up for a fourth straight week on the official survey. Freddie Mac's weekly 30-year average rose to 7.03% as of September 24, 2026, from 6.95% last week, an 8-basis-point climb. Mortgage News Daily's daily 30-year index was 7.37% on September 24. Bankrate's national average was 7.17% the same morning. These are national averages, not a quote.

Should I lock my mortgage rate now or wait?

Treat lock versus float as a risk choice, not a recommendation. Locking removes uncertainty about the final rate. Floating leaves room if pricing improves, and it also leaves you exposed if rates rise before closing. Ask your lender how long a lock lasts and what a re-lock costs. Neither choice guarantees a better outcome.

When is the next Freddie Mac mortgage rate update?

Freddie Mac releases the Primary Mortgage Market Survey on Thursdays at 12 p.m. ET. The latest print is dated September 24, 2026. The next print is due October 1, 2026. Until then, weekday indexes from Mortgage News Daily and Bankrate will show more of the day-to-day moves.

Did weekday mortgage rates hit a multi-year high on September 23?

Matthew Graham at Mortgage News Daily wrote on September 23 that the average top-tier 30-year fixed rate jumped 0.09% to 7.26%. That matched the high seen in early 2025. He wrote that you would have to go back to May 1, 2024 to see anything higher, and that 10-year yields jumped over 5.1%.

What is the gap between the weekly survey and weekday sheets?

Freddie Mac's Thursday survey is 7.03%. Bankrate's September 24 national average is 7.17% interest as of 6:30 a.m. Mortgage News Daily's September 24 daily index is 7.37%. Treat 7.03% as the official weekly average and the higher daily prints as closer to many rate sheets. None of these figures is a personal quote.