Mortgage Rates Retreat

Published February 21, 2025

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, February 20. The survey showed the 30-year fixed mortgage rate continuing to slowly inch down from 7%.

This week, the 30-year fixed mortgage rate averaged 6.85%, down from last week’s average of 6.87%. Last year at this time, the 30-year fixed mortgage rate averaged 6.90%.

The 15-year fixed mortgage rate averaged 6.04% this week, down from last week’s average of 6.09%. During the same week last year, the 15-year fixed mortgage rate averaged 6.29%.

“Mortgage rates decreased slightly this week,” said Freddie Mac’s Chief Economist, Sam Khater. “The 30-year fixed-rate mortgage has stayed just under 7% for five consecutive weeks and in that time has fluctuated less than 20 basis points. This stability continues to bode well for potential buyers and sellers as we approach the spring homebuying season.”

Based on published national averages, the savings rate was 0.41% as of 2/18. The one-year CD averaged 1.80%.

Editor’s Note: The publicly available financial information is offered as a helpful and informative service to our friends. This article is not an endorsement of any company, product or service.