On October 9, 2025, Freddie Mac’s national averages were 6.30% for a 30-year fixed mortgage and 5.53% for a 15-year fixed mortgage. Both were lower than the prior week. These are benchmark averages for a defined set of home-purchase loans—not personalized refinance offers.
Mortgage rate averages for October 9, 2025
| Loan term | October 9, 2025 | October 2, 2025 | Weekly change |
|---|---|---|---|
| 30-year fixed | 6.30% | 6.34% | Down 0.04 percentage points |
| 15-year fixed | 5.53% | 5.55% | Down 0.02 percentage points |
Freddie Mac reported the October 9 figures in its Primary Mortgage Market Survey. The survey’s year-over-year comparison put the 30-year average at 6.32% and the 15-year average at 5.41% one year earlier. Freddie Mac Chief Economist Sam Khater said, “Mortgage rates decreased this week,” and noted that rates had settled near their lowest level in about a year.
These benchmarks are not refinance quotes
Freddie Mac’s PMMS measures conventional, conforming, fully amortizing home-purchase loans. Its stated borrower assumptions include a 20% down payment and excellent credit. The figures are national averages, not rates advertised or offered to refinance applicants; an individual quote may differ based on credit, equity, loan type, term, lender, points and fees.
The Consumer Financial Protection Bureau’s rate-exploration tool illustrates how assumptions such as credit score, down payment, loan term and loan type affect rates. Its examples concern purchase loans, so they should not be treated as refinance offers.
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- SPEAKS YOUR LANGUAGE: Keys clearly labeled in residential mortgage finance terms like Loan AMT, Int, Term, PMT. This industry-standard calculator is super easy to use on all realty financing matters from finding a loan that works for your client to considering trust deeds investments, or finding remaining balances or balloon payments and much more
- CONFIDENTLY AND EASILY SOLVES: All your clients' financial questions whether they are 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
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: 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
- BECOME AN INVALUABLE RESOURCE: Reduce your clients' confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket User's Guide, and long-life batteries
How to assess a refinance offer
A lower rate by itself does not show whether refinancing is worthwhile. Compare written offers on the same basis and consider the total cost alongside how long you expect to keep the loan or home.
- Compare the interest rate and loan term, such as 15 years versus 30 years.
- Include points, lender fees and other closing costs, not just the advertised rate.
- Compare loan types and assumptions consistently; offers with different terms or costs are not direct equivalents.
- Consider how long you expect to stay in the home or keep this loan. There is no universal break-even period: it depends on your actual costs and loan details.
The CFPB explains that points, fees, mortgage insurance and closing costs can affect total borrowing costs. Use the full written loan estimates and your own plans rather than assuming a refinance will produce savings.
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- Loan Amortization and Remaining Balances
- Instant Principal, Interest, Interest Only and Total Payments
- Future Values
- Date math function
How to read this dated rate update
“Today” in this article means October 9, 2025. These figures should not be read as current rates on a later date. For context, the Freddie Mac archive observation dated October 1, 2026 showed 7.28% for a 30-year fixed mortgage and 6.60% for a 15-year fixed mortgage; those are dated archive observations, not October 8 daily quotes.
Quick Recap
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- The mortgage is a huge part of buying a house and you should know your options, figure your monthly payments (using mortgage calculator), understand the different mortgage loan types, learn what is emi and mortgage insurance etc.
- This mini-course is also crucial If you already have a mortgage because you must understand the terms of your mortgage and check if you should refinance your mortgage (We live in a time in which refinancing can often save a lot of money because of the low interest rates).
- We have a few extra tools for you that will help you get the most of the app:
- Weekly reminder - Schedule lessons time and days of the week, in which you want to use the time learning and using the app. The app will notify when it's time.
- Notes tool - here you'll write your notes and ideas you'll want to remember later on.
Rank #3
- SPEAKS YOUR LANGUAGE: Keys clearly labeled in residential mortgage finance terms like Loan Amt, Int, Term, Pmt; this industry-standard calculator is super easy to use on all realty financing matters from finding a loan that works for your client to considering trust deeds investments, or finding remaining balances or balloon payments and more
- 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
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- 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
- BECOME AN INVALUABLE RESOURCE: To your clients by reducing their confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket user's guide, and long-life battery
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