Mortgage rates remained steady this week, in a holding pattern in the mid-sixes now for several weeks.
The latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday shows the 30-year fixed-rate mortgage (FRM) averaging 6.67%, up slightly from last week’s average of 6.65%.
“The 30-year fixed-rate mortgage has stayed under 7% for nine consecutive weeks, which is helpful for potential buyers and sellers alike,” said Sam Khater, Freddie Mac’s chief economist.
Realtor.com Senior Economist Joel Berner commented, “On Wednesday, the Federal Reserve announced that it would be leaving the Federal Funds rate unchanged at the 4.25-4.5% range, which further locks in mortgage rates to where they currently are. The Fed updated its summary of economic projections, but without any major changes. We still anticipate slight easing by the central bank later this year, which may help mortgage rates to come down.”
This week’s numbers:
- The 30-year FRM averaged 6.67% as of March 20, 2025, up slightly from last week when it averaged 6.65%. A year ago at this time, the 30-year FRM averaged 6.87%.
- The 15-year FRM averaged 5.83%, up slightly from last week when it averaged 5.80%. A year ago at this time, the 15-year FRM averaged 6.21%.
For the full report, click here.
