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All • September 11, 2025

Mortgage Rates Drop

by Rodney Ward

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.35%.

“The 30-year fixed-rate mortgage fell 15 basis points from last week, the largest weekly drop in the past year,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are headed in the right direction and homebuyers have noticed, as purchase applications reached the highest year-over-year growth rate in more than four years.”

  • The 30-year FRM averaged 6.35% as of September 11, 2025, down from last week when it averaged 6.50%. A year ago at this time, the 30-year FRM averaged 6.20%.
  • The 15-year FRM averaged 5.50%, down from la.35%st week when it averaged 5.60%. A year ago at this time, the 15-year FRM averaged 5.27%.

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

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