Core Insights - Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 6.76% as of May 8, 2025, remaining unchanged from the previous week [1][6] - A year ago, the 30-year FRM was higher at 7.09%, indicating a decrease of 30 basis points year-over-year [2][6] - The 15-year FRM averaged 5.89%, down from 5.92% the previous week, and was 6.38% a year ago, showing a year-over-year decline [6] Market Trends - Mortgage rates have remained stable over the past weeks, contributing to an increase in purchase applications [2] - The current mortgage rates are lower compared to the same period last year, which had seen declining purchase applications [2] Freddie Mac's Mission - Freddie Mac aims to enhance liquidity, stability, and affordability in the housing market across various economic cycles, having assisted millions of families since its inception in 1970 [3]
Mortgage Rates Remain Flat
Globenewswireยท2025-05-08 16:00