The 30-Year Fixed-Rate Mortgage Continues to Tick Down

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reports a slight decrease in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.64% as of April 3, 2025, down from 6.65% last week and 6.82% a year ago. The 15-year FRM decreased to 5.82% from 5.89% last week, compared to 6.06% a year ago.

According to Sam Khater, Freddie Mac's Chief Economist, the 30-year fixed-rate has shown stability over the last month, leading to increased purchase application demand reaching the highest growth rate since late last year.

Positive

• Mortgage rates show continued decline trend
• Purchase application demand reaches highest growth rate since late 2024
• Both 30-year and 15-year FRM rates lower than previous year

Negative

• Mortgage rates remain relatively high above 6% for 30-year FRM
• Weekly rate decrease is minimal (0.01% for 30-year FRM)

MCLEAN, Va., April 03, 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 6.64%.

“Over the last month, the 30-year fixed-rate has settled in, making only slight moves in either direction. This stability is reassuring, and borrowers have responded with purchase application demand rising to the highest growth rate since late last year,” said Sam Khater, Freddie Mac’s Chief Economist.

News Facts

• The 30-year FRM averaged 6.64% as of April 3, 2025, down slightly from last week when it averaged 6.65%. A year ago at this time, the 30-year FRM averaged 6.82%.
• The 15-year FRM averaged 5.82%, down from last week when it averaged 5.89%. A year ago at this time, the 15-year FRM averaged 6.06%.

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/77c71502-d33c-43cb-8c51-155c8e9a1da2

FAQ

What are the current mortgage rates for Freddie Mac (FMCC) as of April 2025?

As of April 3, 2025, the 30-year fixed-rate mortgage averages 6.64%, while the 15-year fixed-rate mortgage averages 5.82%.

How have FMCC mortgage rates changed compared to last year?

Rates have decreased year-over-year, with the 30-year FRM down from 6.82% and the 15-year FRM down from 6.06%.

What is the week-over-week change in Freddie Mac's mortgage rates?

The 30-year FRM decreased slightly from 6.65% to 6.64%, while the 15-year FRM dropped from 5.89% to 5.82%.

How has mortgage demand responded to FMCC's current rate stability?

Purchase application demand has increased to the highest growth rate since late last year due to rate stability.