Mortgage Rates Decrease

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a slight decrease in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.81%, down from 6.83% last week and 7.17% a year ago. The 15-year FRM decreased to 5.94% from 6.03% last week, compared to 6.44% a year ago.

According to Sam Khater, Freddie Mac's Chief Economist, the 30-year fixed-rate mortgage has maintained stability over the last couple of months, fluctuating less than 20 basis points. This stability is viewed as beneficial for both buyers and sellers in the housing market.

Positive

• Mortgage rates decreased across both 30-year and 15-year FRMs
• Rates are significantly lower compared to previous year
• Market showing stability with rate fluctuations

Negative

• Mortgage rates remain elevated above 6% for both 30-year and 15-year FRMs

MCLEAN, Va., April 24, 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 6.81%.

“The average mortgage rate decreased slightly this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the last couple of months, the 30-year fixed-rate mortgage has fluctuated less than 20 basis points, and this stability continues to bode well for buyers and sellers alike.”

News Facts

• The 30-year FRM averaged 6.81% as of April 24, 2025, down from last week when it averaged 6.83%. A year ago at this time, the 30-year FRM averaged 7.17%.
• The 15-year FRM averaged 5.94%, down from last week when it averaged 6.03%. A year ago at this time, the 15-year FRM averaged 6.44%.

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/96516e12-126a-4a1f-b810-5fd8dac3fa9e

FAQ

What are the current Freddie Mac (FMCC) mortgage rates as of April 24, 2025?

The 30-year fixed-rate mortgage averaged 6.81%, while the 15-year fixed-rate mortgage averaged 5.94%.

How much have FMCC mortgage rates changed compared to last year?

Rates have decreased year-over-year, with the 30-year FRM down from 7.17% and the 15-year FRM down from 6.44%.

What is the week-over-week change in Freddie Mac mortgage rates?

The 30-year FRM decreased from 6.83% to 6.81%, and the 15-year FRM decreased from 6.03% to 5.94%.

How stable have FMCC mortgage rates been in recent months?

According to Freddie Mac's Chief Economist, the 30-year fixed-rate mortgage has fluctuated less than 20 basis points over the last couple of months.