WRE NEWS May 11, 2025
Buyer
The 30-year fixed rate mortgage averaged 6.76% as of May 8, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is unchanged from last week and down from the 7.09% rate recorded one year ago.
The 15-year fixed-rate mortgage averaged 5.89%, down from last week when it averaged 5.92%. A year ago at this time, it averaged 6.38%.
“Mortgage rates stayed flat this week,” said Sam Khater, Freddie Mac’s chief economist. “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.”
Stay up to date on the latest real estate trends.
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