US Mortgage Rates Fall to Lowest Level in Over a Year
Mortgage Rates Decrease to Lowest Level in Over a Year
On Thursday, Freddie Mac released its Primary Mortgage Market Survey for the week ending Thursday, October 23.
The 30-year fixed-rate mortgage averaged 6.19%, down from 6.27% the previous week. A year ago at this time, the 30-year rate averaged 6.54%.
The 15-year fixed-rate mortgage averaged 5.44%, down from 5.52% the previous week. A year ago, the 15-year rate averaged 5.71%.
Commenting on this week’s survey, Freddie Mac Chief Economist Sam Khater said:
“Mortgage rates continued to trend down this week, hitting their lowest level in over a year. At the start of 2025, the 30-year fixed-rate mortgage surpassed 7%, while today it hovers nearly a full percentage point lower. This dynamic has kept refinancings high, accounting for more than half of all mortgage activity for the sixth consecutive week.”
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