Freddie Mac: Mortgage Rates Continue to Move Down

Freddie Mac released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.26%.

“Mortgage rates decreased yet again this week, prompting many homeowners to refinance. In fact, the share of mortgage applications that were refinances reached nearly 60%, the highest since January 2022,” said Sam Khater, Freddie Mac’s Chief Economist. 

News Facts

• The 30-year FRM averaged 6.26% as of September 18, 2025, down from last week when it averaged 6.35%. A year ago at this time, the 30-year FRM averaged 6.09%.
• The 15-year FRM averaged 5.41%, down from last week when it averaged 5.50%. A year ago at this time, the 15-year FRM averaged 5.15%.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. For more information, view our Frequently Asked Questions.

About Freddie Mac

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

Contact:

Angela Waugaman – Media Contact – angela_waugaman@freddiemac.com – (703) 714-0644

Source: Freddie Mac