Mortgage rates were basically flat this week, with the average rate for a 30-year fixed-rate mortgage at 6.76%, according to Freddie Mac’s Primary Mortgage Market Survey.
A year ago at this time, the average rate for a 30-year was 7.09%.
“Mortgage rates stayed flat this week,” says Sam Khater, chief economist for Freddie Mac, in a statement. “At this time last year, the 30-year fixed-rate mortgage was 30 basis points higher and purchase applications were declining. Today, rates are lower and have remained stable for weeks, sparking continued increases in purchase applications.”
The average rate for a 15-year fixed-rate mortgage 5.89%, down from 5.92% last week and down from 6.38% a year ago.
Samir Dedhia, CEO of One Real Mortgage, says this was “another week of relatively steady rates, offering a sense of stability at a time when many buyers are actively re-entering the spring market.”
“The calm in mortgage rates reflects a balancing act in the broader economy,” Dedhia says. “Although the Fed chose to hold rates steady, concerns around inflation and the potential impact of new tariffs are keeping investors on edge. That uncertainty has carried over into the bond market, which influences mortgage pricing—but for now, it hasn’t triggered any major rate spikes.”
“For consumers, this is a reassuring window,” Dedhia adds. “Rates have remained under 7 percent for several months, and even small drops like this one can help improve affordability. Whether you’re buying or refinancing, staying close to the market and acting when the opportunity feels right can make all the difference.”
Photo: Chris Liverani