Freddie Mac reported average U.S. mortgage rates of 6.34% for a 30-year fixed loan and 5.55% for a 15-year fixed loan on October 2, 2025. Both rates were higher than the week before. These are national survey averages, not personalized loan offers.
Freddie Mac mortgage rates on October 2, 2025
| Fixed-rate term | October 2, 2025 | Previous week | October 3, 2024 |
|---|---|---|---|
| 30-year | 6.34% | 6.30% | 6.12% |
| 15-year | 5.55% | 5.49% | 5.25% |
Freddie Mac’s Primary Mortgage Market Survey (PMMS) reported these averages for the week ending October 2, 2025. The 30-year rate rose 0.04 percentage points from the prior week and was 0.22 points above its year-earlier level. The 15-year rate rose 0.06 points week over week and was 0.30 points above its year-earlier level. Freddie Mac’s October 2 release gives the weekly figures, and its PMMS archive lists the dated series.
What the survey averages represent
PMMS focuses on conventional, conforming, fully amortizing home-purchase loans. Its assumed borrower profile includes a 20% down payment and excellent credit. That standardized profile makes the figures useful for tracking broad rate movement, but it does not establish the rate a particular borrower can obtain.
A lender’s quote may differ according to the borrower, loan details, lender terms, and other circumstances. Compare offers for the same loan type and term, and check whether quoted rates include discount points or other costs. The October 2 averages should not be treated as current quotes or as a forecast.
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Why mortgage rates move
In contemporaneous reporting on October 2, the Associated Press described mortgage pricing as responding to expectations about Federal Reserve policy, bond-market views of the economy and inflation, and movements in the 10-year Treasury yield. The Federal Reserve does not set an individual mortgage rate; lenders price loans in a market shaped by these broader factors. The AP report from October 2 provides that market context.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Freddie Mac’s note on the 30-year rate
Freddie Mac Chief Economist Sam Khater said the 30-year fixed rate “increased again this week but remains below its 52-week average of 6.71%.” That 6.71% figure was the 52-week average cited in the October 2, 2025 release; it is context for that date, not a prediction of where rates would go next.
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