Mortgage Rates Remain Under Seven Percent
Freddie Mac (FMCC) reported that the 30-year fixed-rate mortgage (FRM) averaged 6.81%, marking the 17th consecutive week below 7%.
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Rhea-AI Summary
Freddie Mac (FMCC) reported that the 30-year fixed-rate mortgage (FRM) averaged 6.81%, marking the 17th consecutive week below 7%. This represents a slight increase from last week's 6.76% but remains lower than the 7.02% recorded a year ago. The 15-year FRM averaged 5.92%, up from last week's 5.89% and down from 6.28% a year ago.
According to Chief Economist Sam Khater, the stable mortgage rates combined with moderately increasing inventory are attracting homebuyers, with purchase application activity up 18% compared to last year. The survey focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit.
Positive
- Mortgage rates remain below 7% for 17 consecutive weeks
- Purchase application activity increased 18% year-over-year
- Both 30-year and 15-year FRM rates are lower compared to previous year
- Moderately rising inventory is helping attract homebuyers
Negative
- 30-year FRM increased to 6.81% from 6.76% week-over-week
- 15-year FRM increased to 5.92% from 5.89% week-over-week
Details
News Market Reaction – FMCC
The recorded move for FMCC in the trading session of this news was +0.37%.
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MCLEAN, Va., May 15, 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
"The 30-year fixed-rate mortgage remained below the
News Facts
- The 30-year FRM averaged
6.81% as of May 15, 2025, up from last week when it averaged6.76% . A year ago at this time, the 30-year FRM averaged7.02% . - The 15-year FRM averaged
5.92% , up from last week when it averaged5.89% . A year ago at this time, the 15-year FRM averaged6.28% .
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put
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/abb8bc60-31aa-4923-b69d-3a306be370a1
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