According to Freddie Mac's Primary Mortgage Market Survey (PMMS), the average rate on a 30-year fixed-rate mortgage rose to 6,55% for the week ending July 16, 2026, up from 6,49% a week earlier. A year ago the same product averaged 6,75%, so the current level remains below its 2025 mark despite the weekly increase. The survey covers conventional, conforming, fully amortizing home purchase loans for borrowers with a 20% down payment and strong credit profiles.
The 15-year fixed-rate mortgage, a lag indicator often used for refinancing, averaged 5,93%, up from 5,82% the previous week and slightly above the 5,92% recorded a year earlier, per Freddie Mac. Sam Khater, Freddie Mac's Chief Economist, said purchase application demand has weakened recently, but that housing affordability is more favorable and housing inventory continues to rise, so the backdrop for prospective homebuyers is modestly improving.
Freddie Mac's release does not reference any federal or state subsidy programs, energy-renovation incentives, permitting reforms or building-code changes tied to the current rate move. The PMMS report itself is limited to the weekly rate averages and the accompanying commentary from the chief economist, released as it is every Thursday at 12 p.m. Eastern Time.
The 30-year rate of 6,55% marks the highest weekly average reported by Freddie Mac since the survey's methodology was last enhanced, following two consecutive weekly increases from 6,43% on July 2 and 6,49% on July 9.