Mortgage rates rise, remain below year-ago levels

Summary

Freddie Mac said mortgage rates rose this week, though both 30- and 15-year averages remained below year-ago levels.

Why this matters

Mortgage rates affect monthly housing costs and can shape when buyers choose to enter the market. The data suggests borrowing costs remained elevated, but were still lower than a year earlier.

Mortgage rates increased this week, according to Freddie Mac. The average 30-year fixed rate rose 7 basis points to 6.30%, while the 15-year fixed rate increased 6 basis points to 5.64%.

Freddie Mac’s archives show rates fell for four straight weeks until the U.S. and Israel attacked Iran at the end of February. Rates then rose for five weeks, before declining for three consecutive weeks in April.

Despite the latest increase, both benchmark rates remained below their levels a year earlier. The 30-year rate was 6.76% this week in 2025, or 46 basis points higher than the current level. The 15-year rate was 5.92% a year ago, 28 basis points above today’s rate.

The current 30-year rate was also slightly below its 52-week average of 6.39%. Over the past year, it reached as high as 6.89%. The 15-year rate was just above its 52-week average of 5.63% and reached 6.03% twice in spring 2025.

 

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