U.S. Mortgage Rates Decline for Fifth Consecutive Week

The average 30-year fixed mortgage rate drops to 6.85%, the lowest since late December, offering relief to homebuyers and refinancers.

Freddie Mac reports the average 30-year fixed mortgage rate fell to 6.85%, down from 6.87% last week and 6.9% a year ago.
The 15-year fixed mortgage rate also declined, averaging 6.04% compared to 6.09% last week.
National refinance rates for 30-year loans hover near their lowest levels of 2025, with a slight uptick to 6.98%.
Regional refinance rate disparities persist, with the lowest rates found in states like California and New York and the highest in Kentucky and South Dakota.
The Federal Reserve's recent rate cuts and steady monetary policy have influenced mortgage rate trends, though broader economic factors also play a role.