Mortgage Rates Decline Again, Nearing a 2025 Low
The average rate on 30-year mortgages slipped to 6.27% from 6.3% last week, while 15-year rates dropped to 5.52% from 5.53%.
According to Freddie Mac, the average long-term mortgage rate declined again this week, easing to just above its lowest level this year.
- The average 30-year mortgage rate slipped to 6.27% from 6.3% last week.
- A year ago, the rate averaged 6.44%.
- The average 15-year fixed-rate mortgage rate dropped to 5.52% from 5.53% last week.
The latest dip brings the average rate to just above 6.26%, where it was four weeks ago after a string of declines brought down home loan borrowing costs to their lowest level since early October 2024.
Mortgage rates are nearing a 2025 low, with borrowing costs on 15-year fixed-rate mortgages also easing this week.
Author's summary: Mortgage rates decline to 6.27% for 30-year loans.
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