U.S. 30-year fixed-rate mortgage (FRM) averaged 6.27% as of October 16, 2025, down from last week when it averaged 6.30%. A year ago at this time, the 30-year FRM averaged 6.44%, according to Freddie Mac.
The 15-year FRM averaged 5.52%, down from last week when it averaged 5.53%. A year ago at this time, the 15-year FRM averaged 5.63%.
“Mortgage rates inched down this week and have held relatively steady over the past several weeks,” said Sam Khater, Chief Economist at Freddie Mac. “Importantly, homeowners have noticed these consistently lower rates, driving an uptick in refinance activity. Combined with increased housing inventory and slower house price growth, these rates also are creating a more favorable environment for those looking to buy a home."
