The 30-year fixed-rate mortgage (FRM) averages 6.89% as of February 6, down from 6.95% last week. A year ago, the rate stood at 6.64%, according to Freddie Mac.
The 15-year FRM now averages 6.05%, declining from 6.12% last week. One year ago, it averaged 5.90%. Despite higher rates compared to last year, mortgage applications over the past two weeks slightly exceed levels from the same period in 2024.
