Mortgage Rates Drop to 6.01%, Reports Freddie Mac
FOX Business’ Jeff Flock joins ‘Mornings with Maria’ live from Austin, Texas, showcasing 3D-printed homes.
Mortgage rates have seen a significant decline this week, reaching their lowest level since September 2022, according to Freddie Mac’s latest report released on Thursday.
The Primary Mortgage Market Survey revealed that the average rate for a benchmark 30-year fixed mortgage has dropped to 6.01%, down from last week’s 6.09%. This marks a notable decrease compared to the average rate of 6.85% recorded a year ago.
RENT BECOMING MORE AFFORDABLE FOR MANY AMERICANS AS MARKET STABILIZES
The average rate on the 30-year fixed mortgage fell to 6.01% this week, Freddie Mac said. (Ty Wright/Bloomberg via Getty Images)
According to Sam Khater, Freddie Mac’s chief economist, “This lower rate environment is not only improving affordability for prospective homebuyers, it’s also strengthening the financial position of homeowners.” He noted that refinance application activity has more than doubled over the past year, allowing many recent buyers to significantly reduce their annual mortgage payments.
The average rate for a 15-year fixed mortgage also saw a decrease, falling to 5.35% from last week’s 5.44%.
TEXAS CAPITAL’S HOUSEHOLD GROWTH SURGES, FAR OUTPACING NATIONAL RATE
US HOME PRICES ARE RISING – BUT THESE FAST-GROWING MARKETS REMAIN AFFORDABLE
Mortgage rates are influenced by various factors, including the Federal Reserve’s policies and geopolitical events. While mortgage rates do not directly follow the Fed’s interest rate decisions, they tend to closely track the 10-year Treasury yield, which was around 4.08% as of Thursday afternoon.
Realtor.com senior economist Jake Krimmel explained, “This dip from 6.09% last week follows a notable slide in the 10-year Treasury yield, which hit its lowest point since late November 2025 after last week’s softer-than-expected CPI reading and a relatively optimistic jobs report.”
The average rate on a 15-year fixed mortgage fell to 5.35% from last week’s reading of 5.44%. (Mike Blake/Reuters)
Krimmel also highlighted that these lower rates are paving the way for the upcoming spring homebuying season. “There is a chance to be nearly a full percentage point lower than that this spring, which would meaningfully boost purchasing power,” he stated. However, he cautioned that the supply side remains inconsistent, with new construction in 2025 lagging behind 2024 and inventory growth showing signs of stagnation.
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Krimmel also noted that if the mortgage “lock-in effect” persists, lower rates could reignite competition in the market, potentially leading to a surge in prices.
FOX Business’ Jeff Flock joins ‘Mornings with Maria’ live from Austin, Texas, showcasing 3D-printed homes.
Mortgage rates have seen a significant decline this week, reaching their lowest level since September 2022, according to Freddie Mac’s latest report released on Thursday.
The Primary Mortgage Market Survey revealed that the average rate for a benchmark 30-year fixed mortgage has dropped to 6.01%, down from last week’s 6.09%. This marks a notable decrease compared to the average rate of 6.85% recorded a year ago.
RENT BECOMING MORE AFFORDABLE FOR MANY AMERICANS AS MARKET STABILIZES
The average rate on the 30-year fixed mortgage fell to 6.01% this week, Freddie Mac said. (Ty Wright/Bloomberg via Getty Images)
According to Sam Khater, Freddie Mac’s chief economist, “This lower rate environment is not only improving affordability for prospective homebuyers, it’s also strengthening the financial position of homeowners.” He noted that refinance application activity has more than doubled over the past year, allowing many recent buyers to significantly reduce their annual mortgage payments.
The average rate for a 15-year fixed mortgage also saw a decrease, falling to 5.35% from last week’s 5.44%.
TEXAS CAPITAL’S HOUSEHOLD GROWTH SURGES, FAR OUTPACING NATIONAL RATE
US HOME PRICES ARE RISING – BUT THESE FAST-GROWING MARKETS REMAIN AFFORDABLE
Mortgage rates are influenced by various factors, including the Federal Reserve’s policies and geopolitical events. While mortgage rates do not directly follow the Fed’s interest rate decisions, they tend to closely track the 10-year Treasury yield, which was around 4.08% as of Thursday afternoon.
Realtor.com senior economist Jake Krimmel explained, “This dip from 6.09% last week follows a notable slide in the 10-year Treasury yield, which hit its lowest point since late November 2025 after last week’s softer-than-expected CPI reading and a relatively optimistic jobs report.”
The average rate on a 15-year fixed mortgage fell to 5.35% from last week’s reading of 5.44%. (Mike Blake/Reuters)
Krimmel also highlighted that these lower rates are paving the way for the upcoming spring homebuying season. “There is a chance to be nearly a full percentage point lower than that this spring, which would meaningfully boost purchasing power,” he stated. However, he cautioned that the supply side remains inconsistent, with new construction in 2025 lagging behind 2024 and inventory growth showing signs of stagnation.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Krimmel also noted that if the mortgage “lock-in effect” persists, lower rates could reignite competition in the market, potentially leading to a surge in prices.
