Mortgage Rates Remain Under Seven Percent

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage (FRM) averaged 6.83% as of April 17, 2025, showing an increase from last week's 6.62%. This marks the thirteenth consecutive week of rates remaining below 7%.

The current rate environment shows improvement compared to last year when rates were at 7.1%. Purchase application demand is currently 13% higher than the previous year, indicating a stronger start to this year's spring homebuying season. The 15-year FRM averaged 6.03%, up from last week's 5.82%, but lower than the previous year's 6.39%.

Positive

• Mortgage rates remain below 7% for 13 consecutive weeks
• Purchase application demand up 13% year-over-year
• Both 30-year and 15-year FRM rates lower than previous year

Negative

• 30-year FRM increased to 6.83% from previous week's 6.62%
• 15-year FRM rose to 6.03% from previous week's 5.82%

News Market Reaction – FMCC

+1.17%

1 alert

+1.17% News Effect

On the day this news was published, FMCC gained 1.17%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

MCLEAN, Va., April 17, 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 6.83%.

“The 30-year fixed-rate mortgage ticked up but remains below the 7% threshold for the thirteenth consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “At this time last year, rates reached 7.1% while purchase application demand was 13% lower than it is today, a clear sign that this year’s spring homebuying season is off to a stronger start.”

News Facts

• The 30-year FRM averaged 6.83% as of April 17, 2025, up from last week when it averaged 6.62%. A year ago at this time, the 30-year FRM averaged 7.1%.
• The 15-year FRM averaged 6.03%, up from last week when it averaged 5.82%. A year ago at this time, the 15-year FRM averaged 6.39%.

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:
Mollie Laniado
(571) 382-1784
Mollie_Laniado@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b9bd1a37-fd94-43b9-9bca-a76def4f30e8

FAQ

What are the current Freddie Mac (FMCC) mortgage rates as of April 17, 2025?

The 30-year fixed-rate mortgage averaged 6.83%, while the 15-year fixed-rate mortgage averaged 6.03%.

How do FMCC's current mortgage rates compare to last year?

Current 30-year mortgage rates (6.83%) are lower than last year's 7.1%, while 15-year rates (6.03%) are below last year's 6.39%.

How long have Freddie Mac's mortgage rates stayed below 7%?

Mortgage rates have remained below the 7% threshold for thirteen consecutive weeks.

What is the current state of mortgage purchase applications according to FMCC?

Purchase application demand is 13% higher compared to the same period last year, indicating a stronger spring homebuying season.