Mortgage Rates Remain Flat
Freddie Mac (OTCQB: FMCC) reports that mortgage rates remained stable, with the 30-year fixed-rate mortgage (FRM) averaging 6.76%, unchanged from the previous week and down from 7.09% a year ago.
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Rhea-AI Summary
Freddie Mac (OTCQB: FMCC) reports that mortgage rates remained stable, with the 30-year fixed-rate mortgage (FRM) averaging 6.76%, unchanged from the previous week and down from 7.09% a year ago. The 15-year FRM decreased to 5.89% from last week's 5.92%, compared to 6.38% a year ago.
According to Chief Economist Sam Khater, the current rate environment, which is 30 basis points lower than last year, has led to increased purchase applications, contrasting with the declining trend observed a year ago. The survey focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit.
Positive
- 30-year FRM rates are 33 basis points lower than last year (6.76% vs 7.09%)
- 15-year FRM rates decreased to 5.89% from 5.92% last week
- Purchase applications are showing continued increases
- Rates have remained stable for several weeks
Negative
- None.
Details
News Market Reaction – FMCC
The recorded move for FMCC in the trading session of this news was +2.65%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., May 08, 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
“Mortgage rates stayed flat this week,” said Sam Khater, Freddie Mac’s Chief Economist. “At this time last year, the 30-year fixed-rate mortgage was 30 basis points higher and purchase applications were declining. Today, rates are lower and have remained stable for weeks, sparking continued increases in purchase applications.”
News Facts
- The 30-year FRM averaged
6.76% as of May 8, 2025, unchanged from last week. A year ago at this time, the 30-year FRM averaged7.09% . - The 15-year FRM averaged
5.89% , down from last week when it averaged5.92% . A year ago at this time, the 15-year FRM averaged6.38% .
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/436d7c13-f518-4c4a-acfd-59e99039d950
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