Heading into the Holiday Weekend, Mortgage Rates Decrease

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a significant decrease in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.67%, marking the fifth consecutive weekly decline and the largest weekly drop since early March. This represents a decrease from 6.77% last week and 6.95% a year ago.

The 15-year FRM also showed improvement, averaging 5.80%, down from 5.89% last week and 6.25% year-over-year. According to Chief Economist Sam Khater, declining rates are encouraging more sellers to enter the market, potentially benefiting prospective buyers despite ongoing affordability challenges.

Positive

• Mortgage rates decreased for the fifth consecutive week
• 30-year FRM rate dropped to 6.67% from 6.77% last week and 6.95% year-over-year
• 15-year FRM rate decreased to 5.80% from 5.89% last week
• More sellers entering the market, improving buyer opportunities

Negative

• Overall housing affordability challenges persist

MCLEAN, Va., July 03, 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 6.67%.

“The average 30-year fixed-rate mortgage decreased for the fifth consecutive week. This is the largest weekly decline since early March. Declining mortgage rates are encouraging and, while overall affordability challenges remain, we are seeing more sellers enter the market giving prospective buyers an advantage,” said Sam Khater, Freddie Mac’s Chief Economist.

News Facts

• The 30-year FRM averaged 6.67% as of July 3, 2025, down from last week when it averaged 6.77%. A year ago at this time, the 30-year FRM averaged 6.95%.
• The 15-year FRM averaged 5.80%, down from last week when it averaged 5.89%. A year ago at this time, the 15-year FRM averaged 6.25%.

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/d63c16b8-bd75-45c8-86fe-88c81ac6df4b

FAQ

What is the current 30-year fixed mortgage rate for Freddie Mac (FMCC)?

As of July 3, 2025, the 30-year fixed-rate mortgage (FRM) averaged 6.67%, down from 6.77% last week.

How much have Freddie Mac mortgage rates decreased compared to last year?

The 30-year FRM rate is 0.28 percentage points lower than the previous year's rate of 6.95%, while the 15-year FRM is 0.45 percentage points lower than last year's 6.25%.

What is the current 15-year fixed mortgage rate for Freddie Mac?

The 15-year fixed-rate mortgage averaged 5.80%, decreasing from 5.89% last week.

How many consecutive weeks have Freddie Mac mortgage rates been declining?

Mortgage rates have decreased for five consecutive weeks, with this being the largest weekly decline since early March.

What impact are declining mortgage rates having on the housing market?

According to Freddie Mac's Chief Economist, the declining rates are encouraging more sellers to enter the market, creating advantages for prospective buyers, although overall affordability challenges remain.