Mortgage rates average 6.37%
On May 7, 2026, Freddie Mac released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage (FRM) averaged 6.37%. This is up from last week, when it averaged 6.30%. A year ago at this time, the 30-year FRM averaged 6.76%.
“Recent data points to slightly better conditions for buyers with a boost in new-home sales, median new-home prices being down to their lowest level since July 2021, and higher inventory than in recent years,” said Sam Khater, Freddie Mac’s Chief Economist. “Together, these trends could modestly ease affordability pressures through the spring home buying season.”
The 15-year FRM averaged 5.72%, up from last week when it averaged 5.64%. At the same time last year, the 15-year FRM averaged 5.89%.
