Mortgage Rates Tick Up

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported an increase in mortgage rates, with the 30-year fixed-rate mortgage (FRM) rising to 6.72% from 6.67% last week. The uptick follows five consecutive weeks of decline and comes after a stronger-than-expected jobs report.

The 15-year FRM increased to 5.86% from 5.80% last week. Despite ongoing affordability challenges, mortgage applications have shown significant year-over-year growth, with home purchase applications up 25% and refinance applications surging 56% compared to the same period last year.

Positive

• Home purchase applications increased by 25% year-over-year
• Refinance applications surged 56% compared to last year
• 30-year FRM rates are lower than last year's 6.89%
• 15-year FRM rates decreased from 6.17% last year to 5.86%

Negative

• 30-year FRM increased to 6.72% from 6.67% last week
• 15-year FRM rose to 5.86% from 5.80% last week
• Ongoing affordability challenges persist in the housing market

MCLEAN, Va., July 10, 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 6.72%.

“After declining for five consecutive weeks, the 30-year fixed-rate mortgage moved slightly higher following a stronger than expected jobs report,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite ongoing affordability challenges in the housing market, we are seeing home purchase and refinance applications respond to the downward trajectory in rates, increasing by 25% and 56%, respectively, compared to the same time last year.”

News Facts

• The 30-year FRM averaged 6.72% as of July 10, 2025, up from last week when it averaged 6.67%. A year ago at this time, the 30-year FRM averaged 6.89%.
• The 15-year FRM averaged 5.86%, up from last week when it averaged 5.80%. A year ago at this time, the 15-year FRM averaged 6.17%.

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/6c97222f-6b49-4902-8d03-54a24702569e

FAQ

What are the current 30-year mortgage rates for Freddie Mac (FMCC)?

As of July 10, 2025, Freddie Mac reported the 30-year fixed-rate mortgage (FRM) averaged 6.72%, up from 6.67% last week.

How have Freddie Mac mortgage applications changed compared to last year?

Mortgage applications have shown strong growth, with home purchase applications up 25% and refinance applications up 56% compared to the same time last year.

What caused the increase in Freddie Mac mortgage rates?

The increase in mortgage rates followed a stronger than expected jobs report, breaking a five-week streak of declining rates.

How do current Freddie Mac mortgage rates compare to last year?

Current rates are lower than last year, with the 30-year FRM at 6.72% compared to 6.89% last year, and the 15-year FRM at 5.86% compared to 6.17% last year.

What is the current 15-year fixed-rate mortgage rate at Freddie Mac?

The 15-year fixed-rate mortgage averaged 5.86% as of July 10, 2025, up from 5.80% last week.