US 30-Year Fixed Mortgage Rate Drops to 6.23% on April 23, 2026

The average rate on the popular U.S. 30-year fixed-rate mortgage fell to 6.23% as of April 23, 2026, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®). This marks a decline from the previous week’s average of 6.30% and represents the lowest level observed during the last three spring homebuying seasons.

The 15-year fixed-rate mortgage also decreased, averaging 5.58% for the week ending April 23, 2026, down from 5.65% the prior week. These weekly averages are derived from mortgage rates collected from thousands of loan applications submitted to Freddie Mac through Loan Product Advisor® from lenders nationwide when borrowers apply for a mortgage.

PMMS results are released weekly on Thursdays at 12 p.m. ET and reflect an average of loan rates offered from the prior Thursday through Wednesday. The data underscores improving momentum in the housing market, coinciding with increased purchase applications, refinance activity, and pending home sales.

Compared to one year ago, the 30-year fixed-rate mortgage has decreased significantly from 6.81%, while the 15-year fixed-rate mortgage has fallen from 5.94%.

Key Takeaways

• The 30-year fixed mortgage rate averaged 6.23% as of April 23, 2026, down from 6.30% the previous week.
• The 15-year fixed mortgage rate averaged 5.58%, down from 5.65% the prior week.
• Current rates are at their lowest point in the last three spring homebuying seasons.
• One year ago, the 30-year FRM averaged 6.81% and the 15-year FRM averaged 5.94%.
• PMMS data is based on actual loan applications from lenders across the U.S. And is published weekly by Freddie Mac.

Frequently Asked Questions

What is Freddie Mac’s Primary Mortgage Market Survey® (PMMS®)?

The PMMS® is a weekly survey that measures mortgage rate averages based on data from thousands of loan applications submitted to Freddie Mac through Loan Product Advisor® (LPA®) from lenders nationwide when a borrower applies for a mortgage.

How often is the PMMS® released?

PMMS® results are released every Thursday at 12 p.m. ET and represent an average of mortgage rates offered from the prior Thursday through Wednesday.

Why did mortgage rates decrease this week?

The decline in mortgage rates reflects improving market conditions, including increased purchase applications, refinance activity, and pending home sales, as reported by Freddie Mac in its PMMS® commentary.