The 30-year fixed-rate mortgage (FRM) averages 6.93% as of January 9, 2025, rising from 6.91% the previous week and 6.66% a year earlier, according to Freddie Mac.
Freddie Mac’s Primary Mortgage Market Survey indicates the 30-year FRM remains elevated, with Chief Economist Sam Khater stating the strength of the economy and high home prices continue to pressure mortgage rates and housing affordability. Khater also noted limited entry-level home supply as a persistent issue, particularly for first-time buyers.
The 15-year FRM also increased to 6.14% from 6.13% last week, up from 5.87% a year ago, based on the same survey results.
