Mortgage Rates Move Down

Freddie Mac's latest Primary Mortgage Market Survey reveals a decline in mortgage rates, with the 30-year fixed-rate mortgage averaging 6.85%, down from 6.89% last week and 6.99% a year ago.

Rhea-AI Summary

Freddie Mac's latest Primary Mortgage Market Survey reveals a decline in mortgage rates, with the 30-year fixed-rate mortgage averaging 6.85%, down from 6.89% last week and 6.99% a year ago. The 15-year fixed-rate mortgage also decreased to 5.99% from 6.03% last week, compared to 6.29% a year ago. Chief Economist Sam Khater notes this decrease is positive news for potential homebuyers, particularly as housing inventory improves and price growth slows. The PMMS focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit.

Positive

• Mortgage rates decreased with 30-year FRM dropping to 6.85% from 6.89%
• 15-year FRM rates also declined to 5.99% from 6.03%
• Current rates are lower compared to a year ago (6.99% for 30-year and 6.29% for 15-year)
• Housing inventory is improving and house price growth is slowing

Negative

• None.

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MCLEAN, Va., June 05, 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 6.85%.

"The average mortgage rate decreased this week, which is welcome news to potential homebuyers who also are seeing inventory improve and house price growth slow,” said Sam Khater, Freddie Mac’s Chief Economist.

News Facts

• The 30-year FRM averaged 6.85% as of June 5, 2025, down from last week when it averaged 6.89%. A year ago at this time, the 30-year FRM averaged 6.99%.
• The 15-year FRM averaged 5.99%, down from last week when it averaged 6.03%. A year ago at this time, the 15-year FRM averaged 6.29%.

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/5bd089cd-8f91-4e64-99c8-3fbef3ee0689

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the current Freddie Mac 30-year mortgage rates as of June 2025?

According to Freddie Mac's PMMS, the 30-year fixed-rate mortgage averaged 6.85% as of June 5, 2025.

How much did FMCC mortgage rates change from the previous week?

The 30-year FRM decreased from 6.89% to 6.85%, while the 15-year FRM dropped from 6.03% to 5.99%.

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

Current rates are lower than a year ago, with the 30-year FRM at 6.85% compared to 6.99%, and the 15-year FRM at 5.99% compared to 6.29%.

What is Freddie Mac's PMMS survey criteria?

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

What trends are affecting the housing market according to Freddie Mac?

According to Freddie Mac's Chief Economist, housing inventory is improving and house price growth is slowing, alongside decreasing mortgage rates.