30-year Mortgage Rate Average 6.63%

Freddie Mac today ( 03/06/2025) released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.63%.

“As the spring homebuying season gets underway, the 30-year fixed-rate mortgage saw the largest weekly decline since mid-September,” said Sam Khater, Freddie Mac’s Chief Economist. “The decline in rates increases prospective homebuyers’ purchasing power and should provide a strong incentive to make a move. Additionally, this decline in rates is already providing some existing homeowners the opportunity to refinance. In fact, the refinance share of market mortgage applications released this week reached nearly 44%, the highest since mid-December.”

• The 30-year FRM averaged 6.63% as of March 6, 2025, down from last week when it averaged 6.76%. A year ago at this time, the 30-year FRM averaged 6.88%.
• The 15-year FRM averaged 5.79%, down from last week when it averaged 5.94%. A year ago at this time, the 15-year FRM averaged 6.22%.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.