Housing: The mortgage rate reached its lowest level of the year and could encourage buyers
Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS), which shows that the 30-year fixed-rate mortgage (FRM) averaged 6.87% this week.
“The 30-year fixed rate continued to decline this week and reached its lowest level so far in 2025,” said Sam Khater, chief economist at Freddie Mac.
“The recent stability in mortgage rates is benefiting potential buyers, as purchase demand is stronger than at this same time last year,” Khater added.
According to Freddie Mac, this suggests that a relaxation in purchase activity could be just around the corner.
Here’s Where Rates Stand
30-Year Mortgage
The 30-year FRM averaged 6.87% as of February 13, 2025, a drop from last week, when it averaged 6.89%. A year ago at this time, the 30-year FRM averaged 6.77%.
15-Year Mortgage
The 15-year FRM averaged 6.09%, an increase from last week, when it averaged 6.05%. A year ago at this time, the 15-year FRM averaged 6.12%.
The PMMS focuses on conventional home purchase loans that conform to standards and are fully amortizing for borrowers who put down 20% and have excellent credit.
Image: DiarioNY
