Mortgage rates continued to see little movement again this week, a recent pattern that economists say is a positive for borrowers that creates growing confidence in the housing market.
According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the average 30-year fixed-rate mortgage (FRM) moved up 2 basis points this week to 6.26% from last week’s average of 6.24%. Mortgage rates continue to remain near their lowest level in more than a year.
“Mortgage rates have been shifting within a narrow ten-basis point range over the last month,” said Sam Khater, Freddie Mac’s Chief Economist. “This rate stability is a positive sign for both buyers and sellers, as it helps provide greater certainty in the housing market.”
Senior Economic Research Analyst Hannah Jones said with mortgage rates remaining near their lowest level in more than a year, it is encouraging homebuying activity, but affordability continues to be strained.
“While home shoppers in many markets are seeing more for-sale options this fall, inventory levels are still low by historical standards across parts of the country,” Jones said. “Sticky home prices and elevated mortgage rates continue to challenge buyers, keeping monthly payments well above pre-pandemic norms.
She noted that more broadly, the housing market is adjusting unevenly.
“Price growth has moderated in some regions, like the South and West, but remains firm in others where supply is especially limited. With key labor and inflation data likely to be fragmented in the coming weeks, mortgage rates may remain choppy. Markets will be looking closely at the September jobs report, and upcoming inflation readings, to guide expectations ahead of the December Fed decision.”
At a glance
- The 30-year FRM averaged 6.26% as of November 20, 2025, up from last week when it averaged 6.24%. A year ago at this time, the 30-year FRM averaged 6.84%.
- The 15-year FRM averaged 5.54%, up from last week when it averaged 5.49%. A year ago at this time, the 15-year FRM averaged 6.02%.
