Mortgage rates topped 7% for the first time since early 2025. Will Freddie Mac's Oct 1 survey come in above 7.10%?

Freddie Mac's weekly Primary Mortgage Market Survey, released Oct. 1, 2026, put the average 30-year fixed-rate mortgage at 7.28%, up from 7.03% the prior week and well above the 7.10% threshold in question. Freddie Mac described the 25-basis-point weekly jump as its largest since October 2022; the 15-year fixed-rate average rose to 6.60%. The increase came amid stubborn inflation readings and volatile bond markets, and coincided with a federal government shutdown that began at midnight on Oct. 1, 2026, delaying Labor Department data releases, including the September jobs report, that typically guide rate expectations. The shutdown-driven data blackout added to uncertainty about the Federal Reserve's next move, keeping upward pressure on yields. The move put mortgage rates at roughly their highest level since late 2023, extending a climb that had carried the 30-year average up from the mid-6% range earlier in 2026. Predict Six's community leaned toward "No" ahead of the survey, with only 46% predicting "Yes." The survey instead came in at 7.28%, meaning the community's majority prediction was wrong.