MCLEAN, Va.--The 30-year fixed-rate mortgage continues to hover under 7%.
Freddie Mac released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage averaged 6.81% as of May 15, 2025, up from last week when it averaged 6.76%. A year ago at this time, the 30-year FRM averaged 7.02%.
"The 30-year fixed-rate mortgage remained below the 7% threshold for the 17th consecutive week,” said Sam Khater, Freddie Mac’s chief economist. “Stable mortgage rates coupled with moderately rising inventory are attracting homebuyers into the market, with purchase application activity up 18% from last year.”
The 15-year FRM averaged 5.92%, up from last week when it averaged 5.89%. A year ago at this time, the 15-year FRM averaged 6.28%.