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Third straight PMMS climb jumps 19 bp to 6.95% (week of September 17, 2026)

Freddie Mac's weekly 30-year average jumped 19 bp to 6.95% on September 17, 2026. Bankrate's daily average was 7.06%. Mortgage News Daily's daily index showed 7.19%.

Published: 2026-09-17

Key takeaways

  • Freddie Mac's PMMS as of September 17, 2026 put the 30-year fixed at 6.95% (up 0.19 from 6.76%) and the 15-year fixed at 6.26% (up 0.17 from 6.09%). A year earlier those weekly averages were 6.26% and 5.41%. This is a third consecutive Thursday climb.
  • Mortgage News Daily's daily index observed September 17, 2026 showed 30-year fixed at 7.19% (down 0.05 on the day) and 15-year fixed at 6.81% (down 0.03). Weekday sheets remain near or above 7% even after that slight Thursday ease.
  • Bankrate's national averages as of Thursday, September 17, 2026 at 6:30 a.m. put 30-year fixed at 7.06% interest (7.14% APR), up 0.21 versus last week, and 15-year fixed at 6.39% (6.52% APR), up 0.17. The same snapshot listed 20-year at 6.97%, FHA at 6.69%, VA at 6.71%, and jumbo at 7.13%.
  • Matthew Graham at Mortgage News Daily wrote on September 16 that mortgage rates moved higher on Fed day, but the Fed Funds hike itself was not what pushed mortgage rates that afternoon.
  • Put 6.95% next to 7.06% and 7.19%: the first is the Thursday survey, and the other two are closer to many rate sheets this week.

Third straight PMMS climb jumps 19 bp to 6.95% (week of September 17, 2026)

Published: September 17, 2026

The official weekly survey just posted its largest step in this three-week climb. Freddie Mac's Primary Mortgage Market Survey printed 6.95% for the 30-year fixed on September 17, 2026, up 0.19 from 6.76% last Thursday. That follows prior Thursday prints of 6.71% and 6.76%. A year earlier the same weekly average was 6.26%. Bankrate's daily national average was 7.06% the same morning. Mortgage News Daily's daily index showed 7.19% on September 17, a slight ease of 0.05 from the prior day. Put 6.95% next to 7.06% and 7.19%: the first is the Thursday survey, and the other two are closer to many rate sheets this week.

What are 30-year and 15-year mortgage rates this week?

Freddie Mac's Primary Mortgage Market Survey (PMMS) as of September 17, 2026 put the 30-year fixed-rate mortgage at 6.95%, up from 6.76% the week before, and the 15-year fixed at 6.26%, up from 6.09%. A year earlier, those weekly averages were 6.26% and 5.41%. Freddie Mac said: "The 30-year fixed-rate mortgage averaged 6.95% as of September 17, 2026, up from last week when it averaged 6.76%. A year ago at this time, the 30-year FRM averaged 6.26%." PMMS publishes Thursdays at 12 p.m. ET and averages loan rates offered the prior Thursday through Wednesday.

Mortgage News Daily's daily index observed September 17, 2026 showed a 30-year fixed rate of 7.19%, down 0.05 on the day, and a 15-year fixed rate of 6.81%, down 0.03. Even after that Thursday ease, the daily 30-year print remains well above the weekly survey.

Bankrate's national averages as of Thursday, September 17, 2026 at 6:30 a.m. put the 30-year fixed at 7.06% interest (7.14% APR), up 0.21 versus last week, and the 15-year fixed at 6.39% (6.52% APR), up 0.17. The same snapshot listed 20-year at 6.97% (7.07% APR), FHA at 6.69% (6.75% APR), VA at 6.71% (6.78% APR), and jumbo at 7.13% (7.17% APR).

Rate note: these are national averages for education only, not a quote or a rate promise. Your actual rate depends on credit score, down payment, loan type, discount points, and the day you lock.

What moved mortgage rates this week?

Three climbs now sit on the weekly tape: 6.66% to 6.71%, then 6.71% to 6.76%, then 6.76% to 6.95%. The latest step is 19 basis points, far larger than the 5-basis-point moves in the two prior weeks. Weekday sheets stayed near or above 7% even as Mortgage News Daily's September 17 print eased 0.05 to 7.19%.

Two documented differences still sit between the survey and the daily sheets. PMMS averages rates offered from the prior Thursday through Wednesday, so the Thursday noon ET release can lag weekday sheets. Mortgage News Daily's daily index also accounts for upfront costs. The PMMS survey rate does not.

Matthew Graham's September 16 article, No, The Fed Didn't Hike Mortgage Rates Today, at Mortgage News Daily, separated the Fed Funds decision from same-day mortgage pricing. Graham wrote: "Mortgage rates are definitely higher today--the highest since January 13th, 2025. Today's Fed announcement had something to do with that. But while the Fed hiked the Fed Funds Rate, that had NOTHING to do with mortgage rates moving higher this afternoon."

What does this mean if you are buying or refinancing?

If you are comparing written offers this week, put the 6.95% PMMS figure next to Bankrate's 7.06% and Mortgage News Daily's 7.19%. A 0.24 percentage-point gap changes the principal-and-interest payment on the same loan amount. Our mortgage payment calculator can show that difference before you compare APR, points, and fees.

If you are refinancing, a weekday quote near 7.1% to 7.2% changes the payment-drop math versus last week's 6.76% weekly print. Set a payment-drop target that covers closing costs, then check same-day written offers against that number.

Treat lock versus float as a risk choice, not a recommendation. Locking removes uncertainty about the final rate. Floating leaves room if pricing improves, and it also leaves you exposed if rates rise before closing. Neither choice guarantees a better outcome.

Disclaimer: this weekly update is for general education. It is not financial advice, and it is not a commitment to lend. Real mortgage offers vary by lender, credit profile, down payment, points and fees, and market conditions.

Sources

  1. Freddie Mac: Primary Mortgage Market Survey (PMMS) as of September 17, 2026 - https://www.freddiemac.com/pmms
  2. Mortgage News Daily: Today's Mortgage Rates - Daily Index (September 17, 2026) - https://www.mortgagenewsdaily.com/mortgage-rates
  3. Mortgage News Daily: No, The Fed Didn't Hike Mortgage Rates Today (Matthew Graham, September 16, 2026) - https://www.mortgagenewsdaily.com/markets/mortgage-rates-09162026
  4. Bankrate: Current Mortgage Rates (September 17, 2026, 6:30 a.m.) - https://www.bankrate.com/mortgages/mortgage-rates/

Frequently asked questions

Why is Freddie Mac's 6.95% lower than Mortgage News Daily's 7.19% this week?

They measure different things on different calendars. Freddie Mac's PMMS as of September 17, 2026 averaged Thursday-through-Wednesday application rates at 6.95% for 30-year fixed. Mortgage News Daily's September 17 daily index was 7.19%. That index accounts for upfront costs. The PMMS survey rate does not.

Did mortgage rates go up or down this week?

They went up for a third straight week on the official survey. Freddie Mac's weekly 30-year average rose to 6.95% as of September 17, 2026, from 6.76% last week, a 19-basis-point climb. Mortgage News Daily's daily 30-year index was 7.19% on September 17. Bankrate's daily average was 7.06% the same morning. These are national averages, not a quote.

Should I lock my mortgage rate now or wait?

Treat lock versus float as a risk choice, not a recommendation. Locking removes uncertainty about the final rate. Floating leaves room if pricing improves, and it also leaves you exposed if rates rise before closing. Ask your lender how long a lock lasts and what a re-lock costs. Neither choice guarantees a better outcome.

When is the next Freddie Mac mortgage rate update?

Freddie Mac releases the Primary Mortgage Market Survey on Thursdays at 12 p.m. ET. The latest print is dated September 17, 2026. The next print is due September 24, 2026. Until then, weekday indexes from Mortgage News Daily and Bankrate will show more of the day-to-day moves.

Did the Fed Funds hike set mortgage rates on September 16?

Matthew Graham at Mortgage News Daily wrote on September 16 that mortgage rates moved higher that day, but the Fed Funds hike itself was not what pushed mortgage rates that afternoon. Weekday indexes stayed elevated into September 17 even after a slight 0.05 ease on Mortgage News Daily's 30-year print to 7.19%.

What is the gap between the weekly survey and weekday sheets?

Freddie Mac's Thursday survey is 6.95%. Bankrate's September 17 daily national average is 7.06% interest (7.14% APR). Mortgage News Daily's September 17 daily index is 7.19%. Treat 6.95% as the official weekly average and the higher daily prints as closer to many rate sheets. None of these figures is a personal quote.