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Average Mortgage Rate Falls to Lowest Level Since Early April
- Freddie Mac announced on Thursday, July 3, 2025, that mortgage rates have decreased for the fifth week in a row, reaching 6.67%, the lowest level seen since mid-April.
- This recent decline follows a year of mortgage rates hovering between 6% and 7%, amid persistent inflation and steady economic factors influencing borrowing costs.
- The drop in rates has encouraged a 2.7% rise in mortgage applications last week and a 7% increase in refinance requests ending June 27, despite continued affordability challenges from rising home prices and sluggish sales.
- Freddie Mac's chief economist, Sam Khater, highlighted that the recent drop in the 15-year fixed mortgage rate—from 5.89% to 5.8%—marked the most significant weekly decrease observed since early March.
- Although mortgage rates have eased, economists expect them to remain stable between 6% and 7% in the near future, suggesting modest improvement for buyers but ongoing market pressure.
37 Articles
37 Articles
Average Mortgage Rate Falls to Lowest Level Since Early April
The average rate on a 30-year U.S. mortgage fell for the fifth straight week to its lowest level since early April, an encouraging sign for potential buyers who have wrestled with rising home prices. The long-term rate fell to 6.67% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.95%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, fell to 5.80…
Average long-term U.S. mortgage rate drops to lowest level since April
The average rate on a 30-year U.S. mortgage fell for the fifth straight week to its lowest level since early April, an encouraging sign for potential buyers who have wrestled with rising home prices. The long-term rate fell to 6.67% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.95%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, fell to 5.80…
Mortgage rates fall for fifth straight week, lowest since mid-April
Mortgage rates fell for the fifth consecutive week to the lowest level since mid-April, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.67% from last week's reading of 6.77%.The average rate on a 30-year loan was 6.95% a year ago.HOUSING CRISIS DEEPENS AS 47 MAJOR METRO AREAS NOW REQUIRE HOMEBUYERS TO SP…
Average mortgage rate falls to lowest level since early April
The average rate on a 30-year U.S. mortgage fell for the fifth straight week to its lowest level since early April, an encouraging sign for potential buyers who have wrestled with rising home prices.The long-term rate fell to 6.67% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.95%.
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