Average US rate on a 30-year mortgage dips to 6.64% for the second drop in 2 weeks

ALEX VEIGA

Thu, Apr 3, 2025, 9:03 AM 1 min read

The mean complaint connected a 30-year owe successful the U.S. edged little for the 2nd week successful a row, a humble but invited boost for prospective location shoppers successful the midst of the outpouring homebuying season.

The complaint fell to 6.64% from 6.65% past week, owe purchaser Freddie Mac said Thursday. A twelvemonth ago, the complaint averaged 6.82%.

The mean complaint has mostly trended little since reaching conscionable implicit 7% successful mid-January. When owe rates decline, they boost homebuyers’ purchasing power.

Borrowing costs connected 15-year fixed-rate mortgages, fashionable with homeowners refinancing their location loans, besides fell this week, pulling the mean complaint down to 5.82% from 5.89% past week. A twelvemonth ago, it averaged 6.06%, Freddie Mac said.

Mortgage rates are influenced by factors including enslaved marketplace investors’ expectations for aboriginal inflation, planetary request for U.S. Treasurys and the Federal Reserve’s involvement complaint argumentation decisions.

The wide diminution this twelvemonth successful the mean complaint connected a 30-year owe loosely follows moves successful the 10-year Treasury yield, which lenders usage arsenic a usher to pricing location loans.

The yield, which was nearing 4.8% successful mid-January, has mostly fallen since then, amid signs that the system is slowing and worries that tariffs imposed by the Trump medication connected goods imported from astir the globe could wounded economical maturation and substance inflation.