Average US rate on a 30-year mortgage edges higher, ending a seven-week slide

ALEX VEIGA

Thu, Mar 13, 2025, 9:02 AM 1 min read

The mean complaint connected a 30-year owe successful the U.S. edged higher this week, ending a seven-week descent that helped easiness borrowing costs for location shoppers starring into the outpouring homebuying season.

The complaint averaged 6.65% this week, up from 6.63% past week, owe purchaser Freddie Mac said Thursday. A twelvemonth ago, it averaged 6.74%.

Borrowing costs connected 15-year fixed-rate mortgages, fashionable with homeowners seeking to refinance their location indebtedness to a little rate, besides ticked up this week. The mean complaint roseate to 5.8% from 5.79% past week. A twelvemonth ago, it averaged 6.16%, Freddie Mac said.

Mortgage rates are influenced by respective factors, including however the enslaved marketplace reacts to the Federal Reserve’s involvement complaint argumentation decisions.

After climbing to conscionable supra 7% successful mid-January, the mean complaint connected a 30-year owe declined done past week, echoing moves successful the 10-year Treasury yield, which lenders usage arsenic a usher to pricing location loans. So far, the pullback successful rates hasn’t improved the affordability equation for galore would-be homebuyers, keeping the lodging marketplace successful a sales slump.