Mortgage rates edged down slightly this week, with the average rate for a 30-year fixed-rate mortgage falling to 6.81%, down from 6.83% last week, according to Freddie Mac’s Primary Mortgage Market Survey.
A year ago at this time, the average rate for a 30-year was 7.17%.
“The average mortgage rate decreased slightly this week,” says Sam Khater, chief economist for Freddie Mac, in a statement. “Over the last couple of months, the 30-year fixed-rate mortgage has fluctuated less than 20 basis points, and this stability continues to bode well for buyers and sellers alike.”
The average rate for a 15-year fixed-rate mortgage was 5.94%, down from 6.03% last week and down from 6.44% a year ago.
Samir Dedhia, CEO of One Real Mortgage, says although the dip in rates “is minor, it breaks the upward trend we’ve seen in recent weeks and provides a bit of breathing room for buyers.”
“Rates have now stayed under 7 percent for 14 straight weeks—a reassuring signal for those trying to make sense of a volatile market,” Dedhia says in a statement. “The recent shifts in rates are being driven by a mix of inflation concerns, global uncertainty around tariffs, and changing expectations around what the Fed might do next. These external factors are keeping pressure on bond markets, which in turn influence mortgage rates. Despite all that, it’s encouraging to see that rates didn’t climb further this week, and we may be seeing early signs of stabilization.”
“For homebuyers and those considering refinancing, this is a good reminder to stay engaged and ready to act,” Dedhia adds. “Even slight dips in rates can improve affordability and monthly payments. In a market like this, timing and preparation are everything—and working with the right mortgage professional can make all the difference.”
Photo: Susan Q Yin