Mortgage Rates Drop Below Seven Percent
MCLEAN, Va., Jan. 23, 2025 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.96 percent.
“After crossing the 7%-mark last week, the 30-year fixed-rate mortgage saw its first decline in six weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “While affordability challenges remain, this is welcome news for potential homebuyers, as reflected in a corresponding uptick in purchase applications.”
News Facts
- The averaged 6.96 percent as of January 23, 2025, down from last week when it averaged 7.04 percent. A year ago at this time, the 30-year FRM averaged 6.69 percent.
- The averaged 6.16 percent, down from last week when it averaged 6.27 percent. A year ago at this time, the 15-year FRM averaged 5.96 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our .
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity 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: | | | | | |
MEDIA CONTACT:
Angela Waugaman
(703)714-0644
A photo accompanying this announcement is available at
