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Mortgage Rates Continue to Fall

BY GlobeNewswire | AGENCY | 03/06/25 12:00 PM EST

MCLEAN, Va., March 06, 2025 (GLOBE NEWSWIRE) -- Freddie Mac today released the results of its Primary Mortgage Market Survey? (PMMS?), showing the 30-year fixed-rate mortgage (FRM) averaged 6.63%.

?As the spring homebuying season gets underway, the 30-year fixed-rate mortgage saw the largest weekly decline since mid-September,? said Sam Khater, Freddie Mac?s Chief Economist. ?The decline in rates increases prospective homebuyers? purchasing power and should provide a strong incentive to make a move. Additionally, this decline in rates is already providing some existing homeowners the opportunity to refinance. In fact, the refinance share of market mortgage applications released this week reached nearly 44%, the highest since mid-December.?

News Facts

  • The 30-year FRM averaged 6.63% as of March 6, 2025, down from last week when it averaged 6.76%. A year ago at this time, the 30-year FRM averaged 6.88%.
  • The 15-year FRM averaged 5.79%, down from last week when it averaged 5.94%. A year ago at this time, the 15-year FRM averaged 6.22%.

The PMMS? is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac?s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Mollie Laniado
(571)382-1784
Mollie_Laniado@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2bda51e7-b70d-4905-99d7-ee6c11126b86

Image: https://www.globenewswire.com/newsroom/ti?nf=OTM5MDI4MiM2Nzk0MjczIzIwODExNTY=
Image: https://ml.globenewswire.com/media/Njg2MGU1ZjItMGZhZS00OTZkLTliNmEtMmEyZGZlOTRhZTcxLTEwOTI3Mjc=/tiny/Freddie-Mac.png

Image: Primary Logo

Primary Mortgage Market Survey?
Image: https://ml.globenewswire.com/media/2bda51e7-b70d-4905-99d7-ee6c11126b86/medium/primary-mortgage-market-survey.png

U.S. weekly average mortgage rates as of 03/06/2025
Source: Freddie Mac

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