Mortgage Rates Drop

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a significant drop in mortgage rates, with the 30-year fixed-rate mortgage (FRM) falling to 6.35%, marking the largest weekly decline in the past year with a 15 basis point decrease from 6.50%.

The 15-year FRM decreased to 5.50% from last week's 5.60%. Chief Economist Sam Khater noted increased homebuyer activity, with purchase applications reaching their highest year-over-year growth rate in over four years. For comparison, the 30-year and 15-year FRM rates were 6.20% and 5.27% respectively a year ago.

Positive

• Largest weekly drop in 30-year mortgage rates in the past year (15 basis points)
• Purchase applications reached highest year-over-year growth rate in over 4 years
• 30-year FRM decreased from 6.50% to 6.35%
• 15-year FRM decreased from 5.60% to 5.50%

Negative

• Current 30-year FRM rate (6.35%) remains higher than year-ago rate (6.20%)
• Current 15-year FRM rate (5.50%) remains higher than year-ago rate (5.27%)

MCLEAN, Va., Sept. 11, 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 6.35%.

“The 30-year fixed-rate mortgage fell 15 basis points from last week, the largest weekly drop in the past year,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are headed in the right direction and homebuyers have noticed, as purchase applications reached the highest year-over-year growth rate in more than four years.”

News Facts

• The 30-year FRM averaged 6.35% as of September 11, 2025, down from last week when it averaged 6.50%. A year ago at this time, the 30-year FRM averaged 6.20%.
• The 15-year FRM averaged 5.50%, down from last week when it averaged 5.60%. A year ago at this time, the 15-year FRM averaged 5.27%.

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/2bc828f3-3641-4f94-84e4-e3629121f396

FAQ

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

According to Freddie Mac's latest survey, the 30-year fixed-rate mortgage (FRM) averaged 6.35% as of September 11, 2025.

How much did Freddie Mac's 30-year mortgage rates drop in the latest report?

The 30-year fixed-rate mortgage dropped 15 basis points, falling from 6.50% to 6.35%, marking the largest weekly decrease in the past year.

What is the current 15-year fixed mortgage rate reported by FMCC?

The 15-year fixed-rate mortgage averaged 5.50%, down from 5.60% the previous week.

How are mortgage applications performing according to Freddie Mac's latest report?

According to Freddie Mac, purchase applications have reached their highest year-over-year growth rate in more than four years.

How do current Freddie Mac mortgage rates compare to last year?

Current rates are slightly higher than last year - the 30-year FRM is at 6.35% compared to 6.20% a year ago, and the 15-year FRM is at 5.50% compared to 5.27% a year ago.