Some recent experiments have indicated that there is a large suppression of M3 moments, relative to the single-particle estimates, in a number of light nuclei. We calculate the correction to the M3 Schmidt value up to second order in perturbation theory in the case of a closed f 7 2 shell plus a neutron employing realistic effective interactions. The overall second-order corrections are found to be quite significant from the point of view of explaining the large observed deviations. It turns out that, whereas the renormalization terms yield a sizeable contribution which adds coherently to the first-order corrections, the “dequenching” arising from Tamm-Dancoff type graphs is quite small.