U.S. 30-year fixed-rate mortgage (FRM) averaged 6.76% as of May 1, 2025, down from last week when it averaged 6.81%. A year ago at this time, the 30-year FRM averaged 7.22%, according to Freddie Mac.
The 15-year FRM averaged 5.92%, down from last week when it averaged 5.94%. A year ago at this time, the 15-year FRM averaged 6.47%.
“Mortgage rates again declined this week,” said Sam Khater, Freddie Mac’s Chief Economist. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of 6.83%.”
