Mortgage Rates in Further Decline
WRE NEWS February 16, 2025
Buyer
WRE NEWS February 16, 2025
Buyer
Mortgage rates continued to tumble in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC).
The 30-year fixed-rate mortgage averaged 6.87% as of Feb. 13, down from last week when it averaged 6.89%. A year ago at this time, it averaged 6.77%.
The 15-year fixed-rate mortgage averaged 6.09%, up from last week when it averaged 6.05%. A year ago at this time, it averaged 6.12%.
“The 30-year fixed-rate mortgage continued to inch down this week, reaching its lowest level thus far in 2025,” said Sam Khater, Freddie Mac’s Chief Economist. “Recent mortgage rate stability is benefitting potential buyers, as purchase demand is stronger than this time last year. This is an indication that a thaw in buyer activity could be on the horizon.”
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