- Mortgage rates remain below 7% for 13 consecutive weeks.
- Purchase application demand rises 13% year-over-year.
- 30-year and 15-year FRM rates are lower compared to last year.
Freddie Mac (OTCQB: FMCC) announced that the 30-year fixed-rate mortgage (FRM) averaged 6.83% as of April 17, 2025, up from 6.62% in the previous week. Despite this increase, rates have remained under the 7% mark for 13 successive weeks, a favorable trend compared to last year's 7.1% rate.
This year's spring homebuying season appears robust, with purchase application demand climbing 13% from the same time last year. Such figures suggest a healthier market environment, consistent with Freddie Mac's mission to facilitate homeownership.
The 15-year FRM also saw an increase, averaging 6.03%, up from 5.82% the previous week, yet still lower than last year's rate of 6.39%. These developments highlight an improvement in the mortgage landscape, reflecting improved affordability for potential homeowners.
