Freddie Mac Rate Due Today: Other Gauges Near 7.5%

Freddie Mac releases its Primary Mortgage Market Survey every Thursday at noon Eastern, and today's reading follows a week when other gauges moved higher.

[UPDATE] Insert the actual Freddie Mac figure here as soon as it is published.

Where things stand before the release

• Freddie Mac (Oct 1): 7.28%, the highest since November 2023, up from 7.03%

• MBA (week ending Oct 2): 7.49%, the highest in almost three years

• Bankrate (Oct 5): 7.49%

• Mortgage News Daily (Oct 7): 7.59% on its daily index, with the 10-year Treasury yield near 5.29%

 

Why this week could show a bigger move

Freddie Mac's survey covers applications from the start of the week through Wednesday. Because other measures sat above its 7.28% reading last week, the new number may show a rise. That is an expectation based on those other gauges, not a forecast.

Two reasons rates are elevated

Treasury yields have been high, and the MBA said spreads between mortgage rates and Treasuries widened as markets became more volatile. The jobs report on October 2 showed only 29,000 new jobs, which gave bonds some relief, but yields have stayed elevated.

What buyers should do

Do not rely on one weekly number. Get a written quote, compare APRs and fees, and ask about lock options. On a $300,000 loan, each 0.25 percentage point is worth roughly $50 a month in principal and interest.