Mortgage Rates Continue to Stay Under the 7% Threshold
Freddie Mac (OTCQB: FMCC) reported in its Primary Mortgage Market Survey® that the 30-year fixed-rate mortgage (FRM) averaged 6.89% as of May 29, 2025, showing a slight increase from 6.86% last week, but lower than the 7.03% recorded a year ago.
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Rhea-AI Summary
Freddie Mac (OTCQB: FMCC) reported in its Primary Mortgage Market Survey® that the 30-year fixed-rate mortgage (FRM) averaged 6.89% as of May 29, 2025, showing a slight increase from 6.86% last week, but lower than the 7.03% recorded a year ago. The 15-year FRM also saw a minor uptick to 6.03% from 6.01% last week, remaining below the previous year's rate of 6.36%.
Chief Economist Sam Khater emphasized the importance of rate shopping, suggesting potential borrowers could save thousands by obtaining multiple quotes. The survey focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit.
Positive
- 30-year FRM rates (6.89%) remain lower than a year ago (7.03%)
- 15-year FRM rates (6.03%) show significant improvement from last year (6.36%)
- Mortgage rates staying below the 7% threshold
Negative
- 30-year FRM increased from 6.86% to 6.89% week-over-week
- 15-year FRM rose from 6.01% to 6.03% compared to last week
Details
News Market Reaction – FMCC
The recorded move for FMCC in the trading session of this news was -2.12%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., May 29, 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
“This week, the 30-year fixed-rate mortgage rose slightly higher,” said Sam Khater, Freddie Mac’s Chief Economist. “Aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes.”
News Facts
- The 30-year FRM averaged
6.89% as of May 29, 2025, up from last week when it averaged6.86% . A year ago at this time, the 30-year FRM averaged7.03% . - The 15-year FRM averaged
6.03% , up from last week when it averaged6.01% . A year ago at this time, the 15-year FRM averaged6.36% .
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put
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/38c03e9d-e3b5-4d79-b0e4-0ec743f05d13
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