Freddie Mac Reports Drop in Mortgage Rates to 6.21%
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, according to Freddie Mac’s latest report released on Thursday.
The average rate on the benchmark 30-year fixed mortgage decreased to 6.21%, down from last week’s 6.22%. This marks a significant drop from the average rate of 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 also saw a decline, falling to 5.47% from last week’s 5.54%.
This latest data from Freddie Mac comes shortly after the Federal Reserve reduced the benchmark interest rate by 25 basis points, bringing it to a new range of 3.5% to 3.75%. While mortgage rates are not directly influenced by the Fed’s decisions, they closely follow the 10-year Treasury yield, which was 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)
According to Hannah Jones, a senior economic research analyst at Realtor.com, homebuyers are currently in a more advantageous position compared to last year. “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,” she stated. Additionally, renters have experienced improved affordability, with rents decreasing for the 28th consecutive month in November.
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, according to Freddie Mac’s latest report released on Thursday.
The average rate on the benchmark 30-year fixed mortgage decreased to 6.21%, down from last week’s 6.22%. This marks a significant drop from the average rate of 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 also saw a decline, falling to 5.47% from last week’s 5.54%.
This latest data from Freddie Mac comes shortly after the Federal Reserve reduced the benchmark interest rate by 25 basis points, bringing it to a new range of 3.5% to 3.75%. While mortgage rates are not directly influenced by the Fed’s decisions, they closely follow the 10-year Treasury yield, which was 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)
According to Hannah Jones, a senior economic research analyst at Realtor.com, homebuyers are currently in a more advantageous position compared to last year. “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,” she stated. Additionally, renters have experienced improved affordability, with rents decreasing for the 28th consecutive month in November.
