Overview

• The average 30-year fixed mortgage rate decreased slightly to 6.81% from 6.83%, Freddie Mac reported on April 24, 2025.
• Rates on 15-year fixed mortgages also fell, dropping to 5.94% from 6.03% last week, providing minor relief for refinancing homeowners.
• Existing home sales in the U.S. dropped 5.9% in March to an annualized rate of 4.02 million units, falling short of economists' expectations of 4.13 million.
• Mortgage rates remain influenced by fluctuations in the 10-year Treasury yield, which fell to 4.34% from 4.40% on Thursday, reflecting bond market volatility.
• Despite minor rate declines, high home prices and limited inventory continue to strain affordability, dampening housing market activity.