Mortgage Rates Continue to Stay Under the 7% Threshold

Core Insights - The 30-year fixed-rate mortgage (FRM) averaged 6.89% as of May 29, 2025, showing a slight increase from 6.86% the previous week and a decrease from 7.03% a year ago [1][5] - The 15-year FRM also increased to an average of 6.03% from 6.01% last week, down from 6.36% a year ago [5] - Freddie Mac emphasizes the importance of shopping around for mortgage rates to potentially save thousands of dollars [1] Company Overview - Freddie Mac's mission is to enhance liquidity, stability, and affordability in the housing market across all economic cycles, having assisted millions of families since 1970 [3] - The Primary Mortgage Market Survey (PMMS) focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit who put 20% down [2][4]