Mortgage Rates Drop to 6.06%, Reports Freddie Mac
U.S. Federal Housing Finance Agency Director and Fannie Mae Chairman William Pulte discusses the significant move to buy $200 billion in mortgage bonds, future interest rates, and the proposal to ban large institutions from acquiring single-family homes.
Mortgage rates have once again decreased, reaching their lowest point in over 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 dropped to 6.06%, down from last week’s 6.16%. This marks a significant decline from the average rate of 7.04% just a year ago, and it is the lowest since September 15, 2022, when rates were at 6.02%.
A sign outside a home for sale in Sacramento, California. (David Paul Morris/Bloomberg via / Getty Images)
THESE 10 MARKETS MAY SEE THE BIGGEST HOMEBUYING SURGE AS MORTGAGE RATES FALL
According to Sam Khater, Freddie Mac’s chief economist, “Late last week, mortgage rates dropped, driving the weekly average down to its lowest level in more than three years. The impacts are noticeable, as weekly purchase applications and refinance activity have jumped, underscoring the benefits for both buyers and current owners. It’s clear that housing activity is improving and poised for a solid spring sales season.”
In a related move, President Donald Trump recently directed the Federal Housing Finance Agency, which oversees Freddie Mac and Fannie Mae, to purchase $200 billion in bonds issued by these two mortgage giants.
HOME DELISTINGS SURGE AS SELLERS STRUGGLE TO GET THEIR PRICE
THE MARKETS WHERE HOMEBUYERS MAY FINALLY GET SOME RELIEF IN 2026, REALTOR.COM SAYS
FHFA Director William Pulte mentioned that they have initiated a $3 billion round of purchases. With midterm elections approaching, Trump is under pressure to lower costs, including housing expenses, as he and his fellow Republicans aim to maintain control of the U.S. Congress.
Additionally, Trump has proposed banning institutional investors from purchasing single-family homes.
A real estate agent is preparing a house for sale. ( / Getty Images)
Looking ahead, Hannah Jones, a senior economic research analyst at Realtor.com, stated, “We expect mortgage rates to remain relatively steady in the low-6% range this year, which could support modestly improving home sales in 2026. However, affordability constraints and the remaining stock of low-rate mortgages suggest any recovery in home sales is likely to be gradual rather than rapid.”
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In addition, the average rate for a 15-year fixed mortgage has also seen a decline, falling to 5.38% from last week’s 5.46%.
Reuters contributed to this report.
U.S. Federal Housing Finance Agency Director and Fannie Mae Chairman William Pulte discusses the significant move to buy $200 billion in mortgage bonds, future interest rates, and the proposal to ban large institutions from acquiring single-family homes.
Mortgage rates have once again decreased, reaching their lowest point in over 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 dropped to 6.06%, down from last week’s 6.16%. This marks a significant decline from the average rate of 7.04% just a year ago, and it is the lowest since September 15, 2022, when rates were at 6.02%.
A sign outside a home for sale in Sacramento, California. (David Paul Morris/Bloomberg via / Getty Images)
THESE 10 MARKETS MAY SEE THE BIGGEST HOMEBUYING SURGE AS MORTGAGE RATES FALL
According to Sam Khater, Freddie Mac’s chief economist, “Late last week, mortgage rates dropped, driving the weekly average down to its lowest level in more than three years. The impacts are noticeable, as weekly purchase applications and refinance activity have jumped, underscoring the benefits for both buyers and current owners. It’s clear that housing activity is improving and poised for a solid spring sales season.”
In a related move, President Donald Trump recently directed the Federal Housing Finance Agency, which oversees Freddie Mac and Fannie Mae, to purchase $200 billion in bonds issued by these two mortgage giants.
HOME DELISTINGS SURGE AS SELLERS STRUGGLE TO GET THEIR PRICE
THE MARKETS WHERE HOMEBUYERS MAY FINALLY GET SOME RELIEF IN 2026, REALTOR.COM SAYS
FHFA Director William Pulte mentioned that they have initiated a $3 billion round of purchases. With midterm elections approaching, Trump is under pressure to lower costs, including housing expenses, as he and his fellow Republicans aim to maintain control of the U.S. Congress.
Additionally, Trump has proposed banning institutional investors from purchasing single-family homes.
A real estate agent is preparing a house for sale. ( / Getty Images)
Looking ahead, Hannah Jones, a senior economic research analyst at Realtor.com, stated, “We expect mortgage rates to remain relatively steady in the low-6% range this year, which could support modestly improving home sales in 2026. However, affordability constraints and the remaining stock of low-rate mortgages suggest any recovery in home sales is likely to be gradual rather than rapid.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In addition, the average rate for a 15-year fixed mortgage has also seen a decline, falling to 5.38% from last week’s 5.46%.
Reuters contributed to this report.
