Mortgage Rates Continue to Drop

Published May 2, 2025

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, May 1. According to the survey, mortgage rates for 30-year and 15-year loans declined for the second consecutive week.

This week, the 30-year fixed mortgage rate averaged 6.76%, a decrease from last week’s average of 6.81%. Last year at this time, the 30-year fixed mortgage rate averaged 7.22%.

The 15-year fixed mortgage rate averaged 5.92% this week, down from last week’s average of 5.94%. During the same week last year, the 15-year fixed mortgage rate averaged 6.47%.

“Mortgage rates again declined this week,” said chief economist at Freddie Mac, Sam Khater. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of 6.83%.”

Based on published national averages, the savings rate was 0.41% as of 4/21. The one-year CD averaged 1.77%.

Editor’s Note: The publicly available financial information is offered as a helpful and informative service to our friends. This article is not an endorsement of any company, product or service.