Mortgage Rates Continue to Move Down

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a decrease in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.26%, down from 6.35% last week but higher than 6.09% a year ago. The 15-year FRM decreased to 5.41% from 5.50% last week, compared to 5.15% a year ago.

According to Chief Economist Sam Khater, the declining rates have sparked increased refinancing activity, with refinance applications reaching nearly 60% of total mortgage applications, marking the highest level since January 2022.

Positive

• Mortgage rates decreased week-over-week with 30-year FRM dropping to 6.26% from 6.35%
• Refinancing activity reached highest level since January 2022 at nearly 60% of applications
• 15-year FRM rates also decreased to 5.41% from 5.50% week-over-week

Negative

• Current 30-year FRM rates (6.26%) remain higher than year-ago levels (6.09%)
• 15-year FRM rates (5.41%) are higher compared to previous year (5.15%)

MCLEAN, Va., Sept. 18, 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 6.26%.

“Mortgage rates decreased yet again this week, prompting many homeowners to refinance. In fact, the share of mortgage applications that were refinances reached nearly 60%, the highest since January 2022,” said Sam Khater, Freddie Mac’s Chief Economist. 

News Facts

• The 30-year FRM averaged 6.26% as of September 18, 2025, down from last week when it averaged 6.35%. A year ago at this time, the 30-year FRM averaged 6.09%.
• The 15-year FRM averaged 5.41%, down from last week when it averaged 5.50%. A year ago at this time, the 15-year FRM averaged 5.15%.

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/5d17e5b6-38ac-44b4-8629-2dd9474aa80e

FAQ

What are Freddie Mac's current mortgage rates as of September 18, 2025?

The 30-year fixed-rate mortgage averaged 6.26%, while the 15-year fixed-rate mortgage averaged 5.41%.

How have FMCC mortgage rates changed compared to last week?

Rates decreased week-over-week, with the 30-year FRM dropping from 6.35% to 6.26% and the 15-year FRM declining from 5.50% to 5.41%.

What is the current refinancing activity level according to Freddie Mac?

Refinancing applications have reached nearly 60% of total mortgage applications, the highest level since January 2022.

How do current FMCC mortgage rates compare to last year?

Current rates are higher year-over-year, with the 30-year FRM at 6.26% versus 6.09% last year, and the 15-year FRM at 5.41% versus 5.15% last year.

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

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