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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsFor the September 18, 2024 rate picture, the key published averages came from Freddie Mac the next day: its 30-year fixed mortgage average was 6.09%, and its 15-year average was 5.15%. Both were lower than the previous week and a year earlier. These are historical national survey averages—not current rates or personalized lender quotes.
What were mortgage rates in September 2024?
Freddie Mac published its weekly Primary Mortgage Market Survey on September 19, the day after the Federal Reserve announced a rate cut. The survey reported these national averages:
| Loan type | September 19, 2024 average | Previous week | One year earlier |
|---|---|---|---|
| 30-year fixed | 6.09% | 6.20% | 7.19% |
| 15-year fixed | 5.15% | 5.27% | 6.54% |
All figures are Freddie Mac’s 2024 survey averages. The 30-year average fell 0.11 percentage point week over week and 1.10 points year over year; the 15-year average fell 0.12 point week over week and 1.39 points year over year. The September 19 release followed the September 18 Fed announcement, so these figures should not be read as rates quoted on September 18 itself. Freddie Mac’s September 19 release.
Who did Freddie Mac’s survey represent?
The Primary Mortgage Market Survey focuses on conventional, conforming, fully amortizing home-purchase loans. Its assumed borrower puts 20% down and has excellent credit. That defined profile makes the figures useful for tracking broad rate movement, but they are not offers available to every borrower.
An individual lender’s rate can differ with credit history, down payment, loan amount, points, fees, and other loan details. The survey does not establish an individual borrower’s total costs or quote.
What did the Federal Reserve do on September 18?
The Federal Reserve lowered its federal funds target range by 0.50 percentage point, to 4.75%–5.00%, on September 18, 2024. It also said it would continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities. The Fed’s September 18, 2024 statement.
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The Fed does not directly set 30-year mortgage rates. Mortgage rates respond to broader financial-market conditions, and Freddie Mac chief economist Sam Khater said the declines in the preceding weeks indicated that the Fed cut was mostly anticipated. Khater also said: “While mortgage rates do not directly follow moves by the Federal Reserve, this first cut in over four years will have an impact on the housing market.” The statement appeared in Freddie Mac’s September 19 release.
How should borrowers compare a 15-year and 30-year mortgage?
The survey’s 15-year average was lower than its 30-year average, but that does not by itself show which loan would cost less for a particular household. The term changes the repayment timeline and monthly payment; the borrower’s balance, credit profile, down payment, points, and fees also matter.
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Use the historical averages as context, not as a substitute for comparing personalized loan estimates. To find a rate available now, request current offers from lenders using the same loan amount, term, down payment, and points assumptions, then compare both the rate and fees.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Are these mortgage rates current today?
No. The 6.09% and 5.15% figures describe Freddie Mac’s September 19, 2024 survey. They answer a historical question about rates around September 18, 2024; they do not indicate what lenders offer on October 8, 2026.
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