Freddie Mac Sept 17: the 30-Year Jumps to 6.95%

Freddie Mac’s 30-year fixed-rate mortgage averaged 6.95% as of Sept 17, 2026, up from 6.76% the week before. The 15-year averaged 6.26%, up from 6.09%. I read this release next to Freddie Mac’s own history file, and this week stands out for the size of the one-week move and for where it leaves the average.

The week’s numbers

From the release: the 30-year averaged 6.95%, up from 6.76% last week, and a year ago it averaged 6.26%. The 15-year averaged 6.26%, up from 6.09%, and a year ago it averaged 5.41%. Freddie Mac’s comment is that the 30-year continues to fluctuate as markets assess economic data. The survey is an average of rates offered over the prior week on applications lenders run through Freddie Mac’s Loan Product Advisor, so it’s a national picture, and any quote you get will sit above or below it.

What the history file adds

The 0.19 percentage point rise from 6.76% to 6.95% is the largest one-week increase in the 30-year average since April 17, 2025, when it rose 0.21 to 6.83% from 6.62%. The last time the weekly average was at or above 6.95% was Jan 30, 2025, when it was exactly 6.95%. The 2026 low was 5.98% on Feb 26. Since Aug 20, when the average was 6.65%, it has risen in four straight releases: 6.66%, 6.71%, 6.76% and now 6.95%. Since the Feb 26 low it has risen in most weekly releases, and this week’s step is the largest of that run. That’s my arithmetic on Freddie Mac’s published history; the release itself doesn’t make those comparisons.

The 15-year and the 30-year, a year apart

The 15-year’s 6.26% this week happens to be the same figure the 30-year averaged a year ago. They’re different loans, so don’t read one as the other. The 15-year’s own year-ago figure was 5.41%.

What a rate lock does

The Consumer Financial Protection Bureau explains a lock-in or rate lock as a promise that your interest rate won’t change between the offer and closing, as long as you close within the specified time frame and there are no changes to your application. Rate locks are typically available for 30, 45 or 60 days, and sometimes longer. Two cautions from the same page: it may be expensive to extend a lock if the transaction needs more time, and a lock may keep you from a lower rate if rates fall after your offer. A locked rate can also change if your application changes, including the loan amount, credit score or verified income. The top of page 1 of your Loan Estimate shows whether your rate is locked and for how long.

What I’d do this week

If you were quoted last week, ask whether that quote was locked and until when. If you’re shopping now, collect quotes on the same day so they’re comparable, and ask each lender what a lock costs, how long it runs and what an extension would cost if your closing date moves. Send me your Loan Estimate and I’ll walk through the lock section with you. Diana Kim, REALTOR®, eXp Realty.