Freddie Mac Reports Mortgage Rates Climb to 6.09%
FOX Business reporter Jeff Flock reports on mortgage rates falling to their lowest level since February 2023 as President Donald Trump pushes efforts to make homeownership more affordable on ‘Varney & Co.’
Mortgage rates have seen a slight increase this week but remain at their lowest levels in three years, according to a report from mortgage buyer Freddie Mac released on Thursday.
The latest Primary Mortgage Market Survey from Freddie Mac indicates that the average rate for a benchmark 30-year fixed mortgage has risen to 6.09%, up from last week’s 6.06%. This time last year, the average rate stood at 6.96%.
HOME DELISTINGS SURGE AS SELLERS STRUGGLE TO GET THEIR PRICE
The average rate on the 30-year fixed mortgage rose to 6.09% this week. (Ty Wright/Bloomberg via Getty Images)
According to Sam Khater, Freddie Mac’s Chief Economist, “With the economy improving and the average 30-year fixed-rate mortgage nearly a percentage point lower than last year, more homebuyers are entering the market.” He advises buyers to shop around for the best rates, as obtaining multiple quotes can lead to significant savings.
THESE 10 MARKETS MAY SEE THE BIGGEST HOMEBUYING SURGE AS MORTGAGE RATES FALL
Mortgage rates are influenced by various factors, including Federal Reserve policies and geopolitical events. While mortgage rates do not directly respond to the Fed’s interest rate decisions, they closely follow the 10-year Treasury yield, which was around 4.25% as of Thursday afternoon.
Additionally, the average rate for a 15-year fixed mortgage has increased to 5.44%, up from 5.38% last week.
THE MARKETS WHERE HOMEBUYERS MAY FINALLY GET SOME RELIEF IN 2026, REALTOR.COM SAYS
A real estate agent is preparing a house for sale. (Getty Images)
Realtor.com’s senior economist, Anthony Smith, noted that recent policy decisions have led to fluctuations in the market. He highlighted President Donald Trump’s announcement regarding Fannie Mae and Freddie Mac’s plan to purchase $200 billion in mortgage-backed securities as a significant factor.
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Smith explained, “The announcement contributed to the recent rate declines, although uncertainty around implementation may limit the impact.” He added that a separate executive order aimed at restricting institutional investor participation in housing markets has yet to define key enforcement details, suggesting that any immediate effects will likely be limited and concentrated in specific metropolitan areas.
FOX Business reporter Jeff Flock reports on mortgage rates falling to their lowest level since February 2023 as President Donald Trump pushes efforts to make homeownership more affordable on ‘Varney & Co.’
Mortgage rates have seen a slight increase this week but remain at their lowest levels in three years, according to a report from mortgage buyer Freddie Mac released on Thursday.
The latest Primary Mortgage Market Survey from Freddie Mac indicates that the average rate for a benchmark 30-year fixed mortgage has risen to 6.09%, up from last week’s 6.06%. This time last year, the average rate stood at 6.96%.
HOME DELISTINGS SURGE AS SELLERS STRUGGLE TO GET THEIR PRICE
The average rate on the 30-year fixed mortgage rose to 6.09% this week. (Ty Wright/Bloomberg via Getty Images)
According to Sam Khater, Freddie Mac’s Chief Economist, “With the economy improving and the average 30-year fixed-rate mortgage nearly a percentage point lower than last year, more homebuyers are entering the market.” He advises buyers to shop around for the best rates, as obtaining multiple quotes can lead to significant savings.
THESE 10 MARKETS MAY SEE THE BIGGEST HOMEBUYING SURGE AS MORTGAGE RATES FALL
Mortgage rates are influenced by various factors, including Federal Reserve policies and geopolitical events. While mortgage rates do not directly respond to the Fed’s interest rate decisions, they closely follow the 10-year Treasury yield, which was around 4.25% as of Thursday afternoon.
Additionally, the average rate for a 15-year fixed mortgage has increased to 5.44%, up from 5.38% last week.
THE MARKETS WHERE HOMEBUYERS MAY FINALLY GET SOME RELIEF IN 2026, REALTOR.COM SAYS
A real estate agent is preparing a house for sale. (Getty Images)
Realtor.com’s senior economist, Anthony Smith, noted that recent policy decisions have led to fluctuations in the market. He highlighted President Donald Trump’s announcement regarding Fannie Mae and Freddie Mac’s plan to purchase $200 billion in mortgage-backed securities as a significant factor.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Smith explained, “The announcement contributed to the recent rate declines, although uncertainty around implementation may limit the impact.” He added that a separate executive order aimed at restricting institutional investor participation in housing markets has yet to define key enforcement details, suggesting that any immediate effects will likely be limited and concentrated in specific metropolitan areas.
