30-Year Fixed-Rate Mortgages Average 6.86%

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) has released its Primary Mortgage Market Survey® showing that the 30-year fixed-rate mortgage averaged 6.86% as of May 22, 2025, a slight increase from 6.81% last week but lower than the 6.94% recorded a year ago. The 15-year fixed-rate mortgage increased to 6.01% from 5.92% last week, remaining below the previous year's rate of 6.24%.

According to Sam Khater, Freddie Mac's Chief Economist, purchase application activity remains stable, supported by increased housing inventory compared to recent years. The survey focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit.

Positive

• Mortgage rates are lower compared to one year ago (30-year FRM at 6.86% vs 6.94%)
• Increased housing inventory available for buyers
• Purchase application activity remains stable

Negative

• 30-year fixed-rate mortgage increased from 6.81% to 6.86% week-over-week
• 15-year fixed-rate mortgage rose from 5.92% to 6.01% week-over-week

MCLEAN, Va., May 22, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.86%.

“Mortgage rates inched up this week but continue to remain lower than one year ago. With more inventory for buyers to choose from than the last few years, purchase application activity continues to hold up,” said Sam Khater, Freddie Mac's Chief Economist.

News Facts

• The 30-year FRM averaged 6.86% as of May 22, 2025, up from last week when it averaged 6.81%. A year ago at this time, the 30-year FRM averaged 6.94%.
• The 15-year FRM averaged 6.01%, up from last week when it averaged 5.92%. A year ago at this time, the 15-year FRM averaged 6.24%.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Angela Waugaman
(703)714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4993b8de-04cb-4b50-9272-7c9c1943981c

FAQ

What is the current 30-year fixed mortgage rate for Freddie Mac (FMCC) as of May 22, 2025?

The 30-year fixed-rate mortgage averaged 6.86% as of May 22, 2025, up from 6.81% the previous week.

How does the current FMCC mortgage rate compare to last year?

The current 30-year fixed-rate mortgage of 6.86% is lower than the rate of 6.94% from a year ago.

What is Freddie Mac's current 15-year fixed mortgage rate?

The 15-year fixed-rate mortgage averaged 6.01%, increasing from 5.92% the previous week.

What factors are supporting mortgage application activity according to Freddie Mac?

According to Freddie Mac's Chief Economist, purchase application activity remains stable due to increased housing inventory compared to recent years.

What type of borrowers does Freddie Mac's PMMS survey focus on?

The survey focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit.