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Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.96 percent.
“After crossing the 7%-mark last week, the 30-year fixed-rate mortgage saw its first decline in six weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “While affordability challenges remain, this is welcome news for potential homebuyers, as reflected in a corresponding uptick in purchase applications.”
- The 30-year FRM averaged 6.96 percent as of January 23, 2025, down from last week when it averaged 7.04 percent. A year ago at this time, the 30-year FRM averaged 6.69 percent.
- The 15-year FRM averaged 6.16 percent, down from last week when it averaged 6.27 percent. A year ago at this time, the 15-year FRM averaged 5.96 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit.
