Mortgage Rates Tick Up
Globenewswireยท2025-07-10 16:00
Core Insights - Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 6.72% as of July 10, 2025, an increase from 6.67% the previous week, but a decrease from 6.89% a year ago [1][5] Group 1: Mortgage Rate Trends - The 30-year FRM increased slightly after five consecutive weeks of decline, influenced by a stronger than expected jobs report [2] - The 15-year FRM also saw an increase, averaging 5.86%, up from 5.80% the previous week, and down from 6.17% a year ago [5] Group 2: Market Response - Home purchase applications increased by 25% and refinance applications rose by 56% compared to the same time last year, indicating a positive response to the downward trend in mortgage rates [2]