30-Year Fixed-Rate Mortgages Average 6.86%

Core Insights - Freddie Mac's Primary Mortgage Market Survey indicates that the 30-year fixed-rate mortgage (FRM) averaged 6.86% as of May 22, 2025, showing an increase from 6.81% the previous week but remaining lower than the 6.94% average from a year ago [1][4] - The 15-year FRM also saw an increase, averaging 6.01% compared to 5.92% the previous week and 6.24% a year ago [4] - The increase in mortgage rates is accompanied by a greater inventory for buyers, which has helped maintain purchase application activity [1] Industry Overview - The PMMS focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit who put 20% down [2] - Freddie Mac's mission is to enhance liquidity, stability, and affordability in the housing market across various economic cycles, having assisted millions of families since 1970 [3]