Mortgage Rates Decrease to Lowest Level in Over a Year

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported on Oct 23, 2025 that the 30-year fixed-rate mortgage (FRM) averaged 6.19%, down from 6.27% the prior week and below last year’s 6.54%.

The 15-year FRM averaged 5.44%, down from 5.52% last week and 5.71% a year ago. Freddie Mac said rates hit their lowest level in over a year and refinancings have accounted for more than half of mortgage activity for the sixth consecutive week.

The Primary Mortgage Market Survey® covers conventional, conforming, fully amortizing purchase loans with 20% down and excellent credit. Contact: Angela Waugaman.

MCLEAN, Va., Oct. 23, 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 6.19%.

“Mortgage rates continued to trend down this week, hitting their lowest level in over a year,” said Sam Khater, Freddie Mac’s Chief Economist. “At the start of 2025, the 30-year fixed-rate mortgage surpassed 7%, while today it hovers nearly a full percentage point lower. This dynamic has kept refinancings high, accounting for more than half of all mortgage activity for the sixth consecutive week.”

News Facts

• The 30-year FRM averaged 6.19% as of October 23, 2025, down from last week when it averaged 6.27%. A year ago at this time, the 30-year FRM averaged 6.54%.
• The 15-year FRM averaged 5.44%, down from last week when it averaged 5.52%. A year ago at this time, the 15-year FRM averaged 5.71%.

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/ce1966ce-8e7b-48bd-87cd-4536da64c5e8

FAQ

What did Freddie Mac (FMCC) report for the 30-year mortgage rate on October 23, 2025?

Freddie Mac reported the 30-year FRM at 6.19% on October 23, 2025, down from 6.27% the prior week.

How did the 15-year mortgage rate reported by Freddie Mac on Oct 23, 2025 compare year-over-year?

The 15-year FRM averaged 5.44% on Oct 23, 2025, compared with 5.71% a year earlier.

What does the Oct 23, 2025 PMMS report mean for refinancing activity and FMCC?

Freddie Mac said refinancing activity remained high, making up more than half of mortgage activity for the sixth straight week.

Which loan types does Freddie Mac’s Primary Mortgage Market Survey (PMMS) cover for the Oct 23, 2025 release?

The PMMS focuses on conventional, conforming, fully amortizing purchase loans for borrowers putting 20% down with excellent credit.

Where can investors find more information or media contact for Freddie Mac's Oct 23, 2025 mortgage-rate release?

For more information contact Angela Waugaman at (703)714-0644 or Angela_Waugaman@FreddieMac.com; additional resources are on Freddie Mac’s website and social channels.