Key takeaways
Gradual decline in rates: The average 30-year fixed-rate mortgage (FRM) continues to slowly decrease, now at 6.62%, down slightly from 6.64% the previous week, and below 6.88% a year ago.
Stable 15-Year mortgage rate: The 15-year FRM remains unchanged at 5.82%, which is lower than the 6.16% recorded a year earlier.
Positive outlook for homebuying season: Freddie Mac’s chief economist notes that with rates staying under 7% for 12 consecutive weeks and purchase applications rising, the spring homebuying season looks more favorable than the previous year.
Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) continues to decline, albeit at a snails pace. This week, the popular mortgage rate averaged 6.62%, compared to 6.64% the previous week.
“The average 30-year fixed-rate mortgage continues to trend down, remaining under 7% for the twelfth consecutive week,” Sam Khater, Freddie Mac’s chief economist, said in a press release. “As purchase applications continue to climb, the spring homebuying season is shaping up to look more favorable than last year.”
Current rates
The 30-year FRM averaged 6.62% as of April 10, 2025, down from last week when it averaged 6.64%. A year ago at this time, the 30-year FRM averaged 6.88%.
The 15-year FRM averaged 5.82%, unchanged from last week. A year ago at this time, the 15-year FRM averaged 6.16%.
The PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.