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

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reports that the 30-year fixed-rate mortgage (FRM) continues its downward trend, averaging 6.62% as of April 10, 2025, a decrease from 6.64% last week and 6.88% from the previous year. The mortgage rate has remained below 7% for twelve consecutive weeks.

The 15-year FRM held steady at 5.82%, down from 6.16% a year ago. According to Sam Khater, Freddie Mac's Chief Economist, purchase applications are increasing, suggesting a more favorable spring homebuying season compared to last year.

Positive

• Mortgage rates continue downward trend with 30-year FRM at 6.62%, lower than previous year's 6.88%
• Increasing purchase applications indicate improving market conditions
• Both 30-year and 15-year FRM rates show year-over-year improvements

Negative

• Mortgage rates remain relatively high at 6.62% despite recent decreases

MCLEAN, Va., April 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 6.62%.

“The average 30-year fixed-rate mortgage continues to trend down, remaining under 7% for the twelfth consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “As purchase applications continue to climb, the spring homebuying season is shaping up to look more favorable than last year.”

News Facts

• The 30-year FRM averaged 6.62% as of April 10, 2025, down from last week when it averaged 6.64%. A year ago at this time, the 30-year FRM averaged 6.88%.
• The 15-year FRM averaged 5.82%, unchanged from last week. 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:
Chad Wandler
(703) 903-2446
Chad_Wandler@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4c194904-f781-4b3d-81ef-1ac0f83fc1e8

FAQ

What is the current 30-year fixed mortgage rate for Freddie Mac (FMCC) as of April 2025?

The 30-year fixed-rate mortgage averaged 6.62% as of April 10, 2025, down from 6.64% the previous week.

How does FMCC's current 30-year mortgage rate compare to last year?

The current rate of 6.62% is lower than the rate of 6.88% recorded a year ago.

What is the current 15-year fixed mortgage rate for Freddie Mac (FMCC)?

The 15-year fixed-rate mortgage averaged 5.82%, unchanged from the previous week.

How long has FMCC's 30-year mortgage rate stayed below 7%?

The 30-year fixed-rate mortgage has remained under 7% for twelve consecutive weeks.

What is the outlook for FMCC's spring 2025 homebuying season?

The spring homebuying season is expected to be more favorable than last year, with increasing purchase applications.