The average rate lenders quote on a fixed-rate mortgage, published weekly since 1971. It is the rate the building pipeline answers to: a household borrows here, not at the 10-year, and the two move together without closing on each other. Freddie Mac changed how the survey is built in November 2022, from polling lenders to reading the applications they send, so a comparison across that date is a comparison of two constructions.
Freddie Mac via FRED · the Primary Mortgage Market Survey, 30-year and 15-year fixed, weekly