Mortgage Rates Remained Essentially Flat This Week
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%.
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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
Details
News Market Reaction – FMCC
The recorded move for FMCC in the trading session of this news was -4.77%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
“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
News Facts
- The 30-year FRM averaged
6.65% as of March 13, 2025, up slightly from last week when it averaged6.63% . A year ago at this time, the 30-year FRM averaged6.74% . - The 15-year FRM averaged
5.80% , up slightly from last week when it averaged5.79% . A year ago at this time, the 15-year FRM averaged6.16% .
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)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
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