Mortgage Rates Remained Essentially Flat This Week

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reports that the 30-year fixed-rate mortgage (FRM) averaged 6.65% as of March 13, 2025, showing a minimal increase from last week's 6.63%. The rate remains lower compared to 6.74% recorded a year ago.

The 15-year FRM slightly increased to 5.80% from last week's 5.79%, down from 6.16% a year ago. According to Chief Economist Sam Khater, despite market volatility, mortgage rates have remained relatively stable, leading to a 5% increase in purchase applications compared to the previous year.

The combination of moderately lower mortgage rates and improving inventory presents favorable conditions for homebuyers during the important spring homebuying season.

Positive

• Mortgage rates remain relatively low compared to recent months
• Purchase applications increased 5% year-over-year
• Both 30-year and 15-year FRM rates are lower than year-ago levels
• Improving housing inventory reported

Negative

• Slight week-over-week increase in both 30-year and 15-year mortgage rates
• Continued market volatility noted

MCLEAN, Va., March 13, 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 6.65%.

“Despite volatility in the markets, the 30-year fixed-rate mortgage remained essentially flat from last week,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates continue to be relatively low versus the last few months, and homebuyers have responded. Purchase applications are up 5% as compared to a year ago. The combination of modestly lower mortgage rates and improving inventory is a positive sign for homebuyers in this critical spring homebuying season.”

News Facts

• The 30-year FRM averaged 6.65% as of March 13, 2025, up slightly from last week when it averaged 6.63%. A year ago at this time, the 30-year FRM averaged 6.74%.
• The 15-year FRM averaged 5.80%, up slightly from last week when it averaged 5.79%. A year ago at this time, the 15-year FRM averaged 6.16%.

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)772-9528
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/397ae229-c6d9-4a82-b55d-98477db0caa0

FAQ

What are the current Freddie Mac (FMCC) mortgage rates as of March 13, 2025?

The 30-year fixed-rate mortgage averaged 6.65%, while the 15-year fixed-rate mortgage averaged 5.80%.

How have FMCC mortgage rates changed compared to last week?

Rates increased slightly, with the 30-year FRM rising from 6.63% to 6.65%, and the 15-year FRM from 5.79% to 5.80%.

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

Rates are lower than a year ago, when the 30-year FRM averaged 6.74% and the 15-year FRM averaged 6.16%.

How has the housing market responded to current FMCC mortgage rates?

Purchase applications have increased by 5% compared to last year, driven by relatively lower mortgage rates and improving inventory.