Freddie Mac reported a weekly average mortgage rate of 6.26% for a 30-year fixed-rate mortgage and 5.41% for a 15-year fixed-rate mortgage on September 18, 2025. Both averages fell from the prior week, but remained above their year-earlier levels. These are historical national survey averages, not current rates or personalized loan offers.
Mortgage rates on September 18, 2025
| Loan type | September 18, 2025 | September 11, 2025 | One year earlier |
|---|---|---|---|
| 30-year fixed | 6.26% | 6.35% | 6.09% |
| 15-year fixed | 5.41% | 5.50% | 5.15% |
The September 18 figures and comparisons come from Freddie Mac’s Primary Mortgage Market Survey. The 30-year average was 0.09 percentage point lower than the previous week and 0.17 point higher than a year earlier. The 15-year average also declined 0.09 point week over week and was 0.26 point above its year-earlier reading.
What the weekly averages represent
Freddie Mac’s survey focuses on conventional, conforming, fully amortizing home-purchase loans for borrowers with excellent credit who put 20% down, according to its PMMS explanation. That defined borrower and loan profile is important: the published averages are not a guaranteed rate for every borrower, property, loan type, or lender. An individual offer can differ.
The figures are weekly survey averages, not daily market quotes. Freddie Mac’s archive records the next week’s averages, on September 25, as 6.30% for a 30-year fixed mortgage and 5.49% for a 15-year fixed mortgage; September 11’s readings were 6.35% and 5.50%, respectively.
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How the 15-year and 30-year rates compare
The 15-year average was 0.85 percentage point below the 30-year average on September 18. The shorter term means principal is scheduled to be repaid over less time, so the payment obligation differs from that of a 30-year loan. The rate comparison alone does not establish which loan would cost less for a particular borrower: that depends on the amount borrowed, lender fees, and the actual terms offered.
What was happening in the market
On September 17, 2025, the Federal Reserve cut its benchmark rate by a quarter point, the Associated Press reported. Mortgage rates are influenced by Federal Reserve policy as well as bond-market investors’ expectations about the economy and inflation, but a Fed policy-rate change does not mechanically set a particular mortgage rate or personal quote. The Associated Press’s September 2025 report provides that contemporaneous context.
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Freddie Mac Chief Economist Sam Khater said that the rate decline prompted many homeowners to refinance. In Freddie Mac’s September 18 release, he reported that refinances accounted for nearly 60% of mortgage applications, the highest share since January 2022. That statistic describes the application mix cited in the release, not the likelihood that a given homeowner would benefit from refinancing.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Using this historical rate information
If you are comparing a loan today, use current lender quotes rather than these September 2025 averages. Compare the offered rate alongside fees and loan terms, and assess the payment against your own loan amount and finances. The historical survey is useful for understanding where published averages stood on a specific date; it cannot determine the rate available to you now.
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- CONFIDENTLY AND EASILY SOLVE: Clients' financial questions whether they're buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions from PITI Payments to IRR, NPV and Cashflows
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- FIGURE OUT THE RIGHT LOAN: For your client at the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or TVM calculations find loan amount, term, interest or PITI or PI payments
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