# Primary Mortgage Market Survey (PMMS)

> The PMMS is Freddie Mac’s weekly average of 30-year and 15-year fixed mortgage rates. What loans it measures, when it’s published and how to read it.

URL: https://mortgage-math-us.com/glossary/pmms/  
Last reviewed: 2026-10-29 · By the MortgageMath US Editorial team

## Quick answer

The **Primary Mortgage Market Survey (PMMS)** is Freddie Mac’s weekly national average of 30-year and 15-year fixed mortgage rates, released on Thursdays. The latest averages are 7.24% for a 30-year loan and 6.6% for a 15-year loan.

## Key facts

| Fact | Value | Source | As of |
|---|---|---|---|
| 30-year fixed average | 7.24% | [Freddie Mac Primary Mortgage Market Survey](https://www.freddiemac.com/pmms) | Week of Oct 29, 2026 |
| 15-year fixed average | 6.6% | [Freddie Mac Primary Mortgage Market Survey](https://www.freddiemac.com/pmms) | Week of Oct 29, 2026 |
| 30-year fixed average, previous week | 7.32% | [Freddie Mac Primary Mortgage Market Survey](https://www.freddiemac.com/pmms) | Week of Oct 22, 2026 |

## What the average measures

Since late 2022 the survey has been built from applications lenders submit to Freddie Mac’s automated underwriting system, Loan Product Advisor, rather than from a survey of lenders, and each week averages applications from Thursday through Wednesday. It covers conventional, conforming, fixed-rate purchase loans on owner-occupied one-unit homes for borrowers with strong credit who put 20% down. It no longer reports points or fees. So it’s a benchmark, not a quote: your rate depends on your [credit score](https://mortgage-math-us.com/glossary/credit-score/), down payment, points and loan type, and the [APR](https://mortgage-math-us.com/glossary/apr/) on your Loan Estimate shows the full cost.

## Reading it in dollars

On a $300,000 loan, the latest averages mean principal and interest of $2,044 a month over 30 years or $2,630 over 15 years. Last week’s 30-year average of 7.32% would have meant $2,061, so this week’s average works out to $16 a month less than last week’s. Weekly moves matter most while you’re deciding when to [lock your rate](https://mortgage-math-us.com/glossary/rate-lock/). Try other rates in the [mortgage payment calculator](https://mortgage-math-us.com/tools/mortgage-payment-calculator/).

## Sources

- [Freddie Mac Primary Mortgage Market Survey](https://www.freddiemac.com/pmms) — 30-year fixed rate, national weekly average; 15-year fixed rate, national weekly average; 30-year fixed rate, previous week (Week of Oct 29, 2026)
- [Freddie Mac: Newly enhanced mortgage rate survey explained](https://www.freddiemac.com/research/insight/20221103-freddie-macs-newly-enhanced-mortgage-rate-survey)

_General information, not financial advice._