Mortgage Rates: PMMS vs. Actual (Jul 2024-Jun 2025)

Secondary Markets

PMMS vs. Actual Mortgage Rates 30YR FRM TTM 2025

Chart Download and Page Share

Share or Download

Data Points

Month MBS Rate PMMS 30 Difference between Actual Mortgage MBS and PMMS Jul 2024 6.72% 6.85% -0.13% Aug 2024 6.51% 6.50% 0.01% Sep 2024 6.19% 6.18% 0.01% Oct 2024 6.05% 6.43% -0.38% Nov 2024 6.32% 6.81% -0.49% Dec 2024 6.46% 6.72% -0.25% Jan 2025 6.55% 6.96% -0.41% Feb 2025 6.61% 6.84% -0.24% Mar 2025 6.49% 6.65% -0.16% Apr 2025 6.42% 6.73% -0.30% May 2025 6.50% 6.82% -0.32% Jun 2025 6.794% 6.818% -0.024%

Date Published:

July 24, 2025

Date Updated:

July 24, 2025

Chart type:

Line Chart

Suggested Citation:

Polygon Research. (2025). PMMS 30 vs. Average MBS Rates for 30YR FRM Home Purchase: Actual Mortgage Rates vs. PMMS by Month (July 2024 - June 2025). Data analyzed in Polygon Pulse (MBS Pivot) and sourced from loan-level data and Freddie Mac's Primary Mortgage Market Survey. Retrieved from polygonresearch.com/data

Key Insight and Commentary

This chart compares Freddie Mac’s PMMS (yellow)—a benchmark based on prime borrowers—with MBS average note rates (red) for 30-year fixed home purchase loans. Unlike PMMS, MBS rates reflect real borrower activity, including FHA, VA, and credit variation. Both the PMMS and MBS rates exclude points/fees. A lower MBS rate (e.g., Jan 2025) signals lenders actively aligning borrowers with lower-rate programs, not just adjusting price, but meeting diverse borrower needs. Use this to assess how product mix and strategy align with today’s market reality.

Ready to Stop Guessing? Get Your Exact Market Answers

Go beyond generic insights. Polygon's interactive tools and limitless filtering empower you to tailor market data to your specific strategy.
Start your 7-day free trial.

Unlock My Custom Insights Now - Free Trial