The 30-year fixed-rate mortgage (FRM) averaged 6.95 percent as of January 30, 2025, down slightly from last week when it averaged 6.96 percent, according to the Freddie Mac. A year ago at this time, the 30-year FRM averaged 6.63 percent.
“The 30-year fixed-rate has hovered between 6% and 7% for most of the last two and a half years. That trend continued this week, with the average rate remaining essentially flat at 6.95%,” said Sam Khater, Freddie Mac’s Chief Economist. “Driven by these higher rates and a persistent supply shortage, affordability hurdles still exist for many homebuyers and a significant number of them remain on the sidelines.”
The 15-year fixed-rate mortgage averaged 6.12%, down from last week when it averaged 6.16%. A year ago at this time, the 15-year FRM averaged 5.94%.