Methodology

Weekly survey figures

The headline 30-year and 15-year fixed rates on this site are the Freddie Mac Primary Mortgage Market Survey (PMMS) national averages, retrieved from the Federal Reserve Bank of St. Louis FRED database (series MORTGAGE30US and MORTGAGE15US). Freddie Mac publishes the survey each Thursday. Our data is refreshed automatically every Thursday afternoon and the site is rebuilt. The "week of" date shown next to each figure is the survey release date.

The PMMS reflects first-lien, conventional, conforming purchase loans to borrowers with 20 percent down and strong credit, as collected by Freddie Mac from lenders. It does not include points, fees, or the effect of credit score, loan-to-value or property type on an individual quote.

This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

Daily indices

Daily figures come from third-party widgets embedded on the page: the Optimal Blue Mortgage Market Indices (OBMMI), which are based on actual rate locks, and the Mortgage News Daily rate index, which is based on lender rate sheets. Each is updated on its provider's schedule and displayed with its source. We do not modify these figures.

Charts

The 52-week chart plots the weekly PMMS 30-year average. It is rendered at build time from the same data as the headline figures.

Calculators

The payment calculator uses the standard amortization formula for a fully amortizing fixed-rate loan and returns principal and interest only. The buydown calculator computes the difference between the full payment and the reduced payment for each buydown year. Neither includes taxes, insurance, mortgage insurance or association dues.

Commentary

Daily commentary describes what has already happened in the bond and mortgage markets and what is scheduled. It does not forecast rates. Commentary is written by the loan originator named on the About page.

Loan limits and program rules

Conforming and FHA loan limits are set annually by FHFA and HUD and vary by county. Program guidelines change. Figures on this site marked for verification are reviewed against the official sources before publication, and readers should confirm current limits and guidelines with a licensed originator.

Corrections

If you find an error, contact us through the Contact page. Corrections are made promptly and the page's date stamp is updated.