Mortgage rates slip, sticking near 2025 lows
Average rate on the benchmark 30-year fixed mortgage fell to 6.21%, says Freddie Mac
Former 'Million Dollar Listing' star and real estate agent Josh Altman joins 'Varney & Co.' to break down soaring home delistings, why buyers want turnkey properties and how skipping mortgage rate shopping is costing families thousands.
Mortgage rates ticked lower this week, mortgage buyer Freddie Mac said Thursday.
Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage decreased to 6.21% from last week's reading of 6.22%.
The average rate on a 30-year loan was 6.72% a year ago.
Mortgage rates fell to 6.21% this week, according to Freddie Mac. (David Paul Morris/Bloomberg via Getty Images)
HOME DELISTINGS SURGE AS SELLERS STRUGGLE TO GET THEIR PRICE
"The average 30-year fixed-rate mortgage has remained within a narrow 10-basis point range over the last two months," said Sam Khater, Freddie Mac’s chief economist. "With rates down half a percent over last year, purchase applications are 10% above the same time one year ago."
THE MARKETS WHERE HOMEBUYERS MAY FINALLY GET SOME RELIEF IN 2026, REALTOR.COM SAYS
The average rate on a 15-year fixed mortgage fell to 5.47% from last week's reading of 5.54%.
Freddie Mac's latest data comes about a week after the Federal Reserve lowered the benchmark interest rate by 25 basis points to a new range of 3.5% to 3.75%.
Mortgage rates are not directly affected by the Fed's interest rate decision but closely track the 10-year Treasury yield. The 10-year yield hovered around 4.12% as of Thursday afternoon.
Federal Reserve Chair Jerome Powell speaks during a news conference after a two-day meeting of the Federal Open Market Committee at the Federal Reserve in Washington, D.C., Dec. 10, 2025. (Kevin Lamarque/Reuters)
Homebuyers are in a more favorable position now than they were a year ago, according to Hannah Jones, a Realtor.com senior economic research analyst.
"Mortgage rates have eased into the low-6% range, and inventory remains well above last year’s levels, giving buyers more options and greater flexibility," Jones said. "Renters have also seen affordability improve, with rents falling for the 28th consecutive month in November."