Rates Stay Firmly In The Mid-6% Range

Mortgage rates were in the mid-6% range this week, moving down slightly after inching up for two consecutive weeks.

Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.65%, down slightly from the week prior’s 6.67%. 

A year ago at this time, the 30-year fixed-rate mortgage averaged 6.79%.

Fifteen-year rates increased for a third week, however, to 5.89% from 5.83%. Last year, they were at 6.11%.

“The 30-year fixed-rate mortgage ticked down by two basis points this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Recent mortgage rate stability continues to benefit potential buyers this spring, as reflected in the uptick in purchase applications.”

Purchase demand rose to its highest level in two months last week, a turnaround from abysmal data in early 2025.

“Last week’s purchase activity was driven primarily by a 6% increase in FHA applications, as the combination of loosening housing inventory and slowly declining mortgage rates have presented this segment of buyers with more opportunities,” Joel Kan, MBA Vice President and Deputy Chief Economist, commented.

Samir Dedhia, CEO of One Real Mortgage, noted that tough inflation outlooks and tariff uncertainty have put pressure on markets, but rates have remained fairly stable.

“For homebuyers, particularly first-time buyers, a more stable rate environment allows for better planning and budgeting… This predictability creates a more confident atmosphere for consumers to enter the market, compare financing options, and make decisions aligned with their long-term goals,” he said.