Mortgage Rates Decrease Again

Published February 7, 2025

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, February 6. The survey revealed a third consecutive week of declining mortgage rates.

This week, the 30-year fixed rate mortgage averaged 6.89%, down from last week’s average of 6.95%. Last year at this time, the 30-year fixed rate mortgage averaged 6.64%.

The 15-year fixed rate mortgage averaged 6.05% this week, down from last week’s average of 6.12%. During the same week last year, the 15-year fixed rate mortgage averaged 5.90%.

"The 30-year fixed-rate mortgage decreased this week, now averaging 6.89%,” said Freddie Mac’s Chief Economist, Sam Khater. "Mortgage rates have been stable over the last month and incoming data suggest the economy remains on firm footing. Even though rates are higher compared to last year, the last two weeks of purchase applications are modestly above what we saw a year ago, indicating some latent demand in the market.”

Based on published national averages, the savings rate was 0.41% as of 1/21. The one-year CD averaged 1.82%.

Editor’s Note: The publicly available financial information is offered as a helpful and informative service to our friends. This article is not an endorsement of any company, product or service.