US 30-Year Mortgage Rate Drops to 6.15%, Lowest in 2025

The average rate for a 30-year fixed mortgage in the United States has decreased to 6.15%, down from 6.18% the previous week, according to Freddie Mac. This marks the lowest level of 2025 and a significant drop from the 6.91% average recorded a year ago.

Similarly, the average rate for 15-year fixed-rate mortgages, often chosen by homeowners refinancing their loans, fell to 5.44% from 5.50% the prior week. A year ago, this rate stood at 6.13%.

Mortgage rates are influenced by various factors, including the Federal Reserve's interest rate policies and investor expectations regarding the economy and inflation. They typically follow the trend of the 10-year Treasury yield, which was at 4.14% as of midday Wednesday, slightly down from 4.15% the previous week.

Despite the decline in mortgage rates, affordability challenges persist for many prospective homebuyers, particularly first-time buyers without existing home equity. Economic uncertainties and job market concerns continue to deter some individuals from entering the housing market.

Home sales data reflects these challenges. While sales of previously occupied U.S. homes rose in November compared to the previous month, they slowed year-over-year for the first time since May. Through the first 11 months of 2025, home sales have decreased by 0.5% compared to the same period in 2024.

Economists generally forecast that the average rate on a 30-year mortgage will remain slightly above 6% into 2026.