Mortgage Rates Continue to Decline

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a decline in mortgage rates in its latest Primary Mortgage Market Survey®. The 30-year fixed-rate mortgage (FRM) averaged 6.76%, down from 6.81% last week and significantly lower than the 7.22% recorded a year ago. The 15-year FRM also decreased to 5.92% from 5.94% last week, compared to 6.47% a year ago. Chief Economist Sam Khater noted that the 30-year FRM rates have fallen below the first quarter average of 6.83%.

Positive

• 30-year FRM rates decreased to 6.76% from 6.81% week-over-week
• Current 30-year FRM rates are significantly lower than last year's 7.22%
• 15-year FRM rates declined to 5.92% from 5.94% week-over-week
• 15-year FRM rates are lower compared to 6.47% a year ago

Negative

• None.

MCLEAN, Va., May 01, 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 6.76%.

“Mortgage rates again declined this week,” said Sam Khater, Freddie Mac’s Chief Economist. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of 6.83%.”

News Facts

• The 30-year FRM averaged 6.76% as of May 1, 2025, down from last week when it averaged 6.81%. A year ago at this time, the 30-year FRM averaged 7.22%.
• The 15-year FRM averaged 5.92%, down from last week when it averaged 5.94%. A year ago at this time, the 15-year FRM averaged 6.47%.

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/3cfe0e2e-2ef3-4274-b67f-5d23a598d31a

FAQ

What are the current 30-year mortgage rates for Freddie Mac (FMCC) as of May 2025?

According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.76% as of May 1, 2025.

How have FMCC's mortgage rates changed compared to last week?

The 30-year FRM decreased from 6.81% to 6.76%, while the 15-year FRM decreased from 5.94% to 5.92%.

What is the year-over-year comparison for Freddie Mac's mortgage rates?

Compared to a year ago, the 30-year FRM is down from 7.22% to 6.76%, and the 15-year FRM is down from 6.47% to 5.92%.

How do current FMCC mortgage rates compare to Q1 2025?

Current 30-year fixed-rate mortgage rates (6.76%) are lower than the first quarter 2025 average of 6.83%.