The 30-Year Fixed-Rate Mortgage Continues to Decrease

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage (FRM) averaged 6.87% as of February 13, 2025, showing a slight decrease from 6.89% last week. However, this rate is higher compared to 6.77% recorded a year ago.

The 15-year FRM increased to 6.09% from last week's 6.05%, but remains lower than the 6.12% rate from a year ago. According to Sam Khater, Freddie Mac's Chief Economist, the recent mortgage rate stability is positively impacting potential buyers, with purchase demand showing stronger performance compared to the same period last year.

Positive

• 30-year FRM decreased to 6.87% from 6.89% week-over-week
• Purchase demand is stronger compared to last year
• Mortgage rate stability is benefiting potential buyers

Negative

• 30-year FRM is higher than last year's rate of 6.77%
• 15-year FRM increased to 6.09% from 6.05% week-over-week

MCLEAN, Va., Feb. 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 6.87%.

“The 30-year fixed-rate mortgage continued to inch down this week, reaching its lowest level thus far in 2025,” said Sam Khater, Freddie Mac’s Chief Economist. “Recent mortgage rate stability is benefitting potential buyers, as purchase demand is stronger than this time last year. This is an indication that a thaw in buyer activity could be on the horizon.”

News Facts

• The 30-year FRM averaged 6.87% as of February 13, 2025, down from last week when it averaged 6.89%. A year ago at this time, the 30-year FRM averaged 6.77%.
• The 15-year FRM averaged 6.09%, up from last week when it averaged 6.05%. A year ago at this time, the 15-year FRM averaged 6.12%.

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)714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2c8d98e-c8a1-4b19-88ee-18d50cbe6ebc

FAQ

What is the current 30-year fixed-rate mortgage rate for FMCC as of February 13, 2025?

The 30-year fixed-rate mortgage averaged 6.87% as of February 13, 2025.

How has FMCC's 30-year mortgage rate changed compared to last week?

The 30-year fixed-rate mortgage decreased from 6.89% last week to 6.87%.

What is the current 15-year fixed-rate mortgage rate for FMCC?

The 15-year fixed-rate mortgage averaged 6.09% as of February 13, 2025.

How does FMCC's current mortgage rate compare to last year?

The current 30-year FRM rate of 6.87% is higher than last year's rate of 6.77%.

What is the current state of purchase demand according to FMCC?

Purchase demand is stronger than the same time last year, suggesting a potential thaw in buyer activity.