The 30-Year Fixed-Rate Mortgage Ticks Down

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a slight decrease in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.65% as of March 27, 2025, down from 6.67% last week and 6.79% a year ago. The 15-year FRM increased to 5.89% from 5.83% last week, though lower than the 6.11% recorded a year ago.

According to Sam Khater, Freddie Mac's Chief Economist, the stable mortgage rates are benefiting potential homebuyers this spring, as evidenced by an increase in purchase applications. The survey focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with 20% down payment and excellent credit.

Positive

• Mortgage rates decreased slightly, with 30-year FRM down to 6.65% from 6.67%
• Current rates are lower compared to previous year (6.79%)
• Increased purchase applications indicating improved market activity

Negative

• 15-year FRM rates increased week-over-week from 5.83% to 5.89%

MCLEAN, Va., March 27, 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 6.65%.

“The 30-year fixed-rate mortgage ticked down by two basis points this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Recent mortgage rate stability continues to benefit potential buyers this spring, as reflected in the uptick in purchase applications.”

News Facts

• The 30-year FRM averaged 6.65% as of March 27, 2025, down from last week when it averaged 6.67%. A year ago at this time, the 30-year FRM averaged 6.79%.
• The 15-year FRM averaged 5.89%, up from last week when it averaged 5.83%. A year ago at this time, the 15-year FRM averaged 6.11%.

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/d2b39acd-faf7-486c-adb2-a9f7a56c7d61

 

FAQ

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

The 30-year fixed-rate mortgage averaged 6.65% as of March 27, 2025, showing a decrease of two basis points from the previous week's 6.67%.

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

The current 30-year fixed-rate mortgage of 6.65% is lower than the rate of 6.79% recorded a year ago.

What happened to Freddie Mac's 15-year mortgage rates in March 2025?

The 15-year fixed-rate mortgage increased to 5.89% from 5.83% the previous week, but remains below the year-ago rate of 6.11%.

How are the stable mortgage rates affecting the housing market according to FMCC?

According to Freddie Mac's Chief Economist, the stable mortgage rates are benefiting potential buyers this spring, as evidenced by an uptick in purchase applications.