Core Insights - The average 30-year fixed-rate mortgage (FRM) decreased to 6.67% as of July 3, 2025, marking a decline from 6.77% the previous week and down from 6.95% a year ago [1][6] - The 15-year FRM also saw a decrease, averaging 5.80%, down from 5.89% last week and 6.25% a year ago [6] - This marks the fifth consecutive week of decline in the average 30-year FRM, representing the largest weekly drop since early March [2] Market Context - The PMMS focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit who put 20% down [3] - The decline in mortgage rates is seen as encouraging, with more sellers entering the market, which may provide prospective buyers with an advantage despite ongoing affordability challenges [2] Company Mission - Freddie Mac's mission is to enhance liquidity, stability, and affordability in the housing market, having assisted millions of families in buying, renting, or maintaining their homes since 1970 [4]
Heading into the Holiday Weekend, Mortgage Rates Decrease
Globenewswireยท2025-07-03 16:00