Mortgage Rates Average 6.53%

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported in its Primary Mortgage Market Survey that the average 30-year fixed-rate mortgage was 6.53% as of May 28, 2026, up from 6.51% a week earlier and down from 6.89% a year ago.

The 15-year fixed-rate mortgage averaged 5.87%, compared with 5.85% last week and 6.03% a year earlier. The survey tracks conventional, conforming, fully amortizing home purchase loans with 20% down and excellent credit.

AI-generated analysis. Not financial advice.

News Market Reaction – FMCC

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-2.12% News Effect

On the day this news was published, FMCC declined 2.12%, reflecting a moderate negative market reaction.

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MCLEAN, Va., May 28, 2026 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.53%.

“The 30-year fixed-rate mortgage averaged 6.53% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Pending home sales have increased three months in a row, indicating there’s latent demand and homebuyers are ready to jump back into the market if mortgage rates decline.”

News Facts

• The 30-year FRM averaged 6.53% as of May 28, 2026, up from last week when it averaged 6.51%. A year ago at this time, the 30-year FRM averaged 6.89%.
• The 15-year FRM averaged 5.87%, up from last week when it averaged 5.85%. A year ago at this time, the 15-year FRM averaged 6.03%.

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.

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

MEDIA CONTACT:
Mollie Laniado
(571)382-1784
Mollie_Laniado@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6cd20c3e-99d2-47c5-9769-6e55ad3ce2ca

 

FAQ

What is the average 30-year mortgage rate reported by Freddie Mac (FMCC) on May 28, 2026?

The average 30-year fixed-rate mortgage was 6.53% as of May 28, 2026. According to Freddie Mac, this compares with 6.51% a week earlier and 6.89% one year ago, based on its Primary Mortgage Market Survey.

How did the 15-year fixed mortgage rate from Freddie Mac (FMCC) change as of May 28, 2026?

The average 15-year fixed-rate mortgage reached 5.87% as of May 28, 2026. According to Freddie Mac, this was slightly higher than 5.85% the prior week and lower than 6.03% at the same time a year earlier.

How do current Freddie Mac (FMCC) 30-year mortgage rates compare with last year?

The 30-year fixed-rate mortgage averaged 6.53% versus 6.89% one year ago. According to Freddie Mac, this indicates a lower average rate year-over-year, based on conventional, conforming, fully amortizing home purchase loans in its Primary Mortgage Market Survey.

What type of loans are included in the Freddie Mac (FMCC) Primary Mortgage Market Survey?

The Primary Mortgage Market Survey covers conventional, conforming, fully amortizing home purchase loans. According to Freddie Mac, the survey focuses on borrowers making 20% down payments and having excellent credit, providing a consistent benchmark for typical prime mortgage pricing.

What does Freddie Mac (FMCC) say about housing demand in its May 28, 2026 update?

Freddie Mac notes that pending home sales have risen for three straight months, suggesting latent housing demand. According to Freddie Mac, homebuyers appear prepared to re-enter the market if mortgage rates decline, reflecting sensitivity of purchase activity to rate movements.