Fall 2026 Mortgage Rates

Mortgage rates have risen swiftly lately. It’s a good time for Buyers to move (including investors who need financing). Rates are still below the historical average (7.73%) and are not expected to decrease until the underlying problems are resolved (war, oil prices, inflation, national debt, etc.). Sellers must understand the marketplace challenges and price homes appropriately to sell quickly for top dollar.

The Primary Mortgage Market Survey (PMMS) all-time average is 7.73%. The peak was 18.4% in October 1981, and the low was 2.96% in 2021 during the pandemic. (Source: freddiemac.com)

For context, this report is from Freddie Mac. Freddie Mac is the common name for the Federal Home Loan Mortgage Corporation. Congress created it as a government-sponsored enterprise (GSE) in 1970. It is known as the “secondary market” because it doesn’t lend directly to individuals. Instead, it purchases mortgages to keep those markets liquid and reduce the cost of borrowing money (mortgage rates). It takes those loans and converts them into mortgage-backed securities (MBS). It sells MBS to investors to spread risk and reward.

Freddie Mac was created to compete with Fannie Mae to reduce interest rate risk for banks. Fannie Mae is the Federal National Mortgage Association. It was created in 1938 during the Great Depression. It mainly purchases mortgages from large national banks, while Freddie Mac usually buys from smaller community banks, credit unions and other private lenders.

Finally, there are graphs for both 30-year and 15-year notes. Individual residential purchases are often 30-year mortgages. Meanwhile, most investors get 15-year mortgages with a large down payment (15% or more).

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build Certified
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com