• Home
  • News
  • Mortgage Rates Decrease to Lowest Level in Over a Year
Share This Page

Mortgage Rates Decrease to Lowest Level in Over a Year

October 23, 2025 / Source: Freddie Mac

MCLEAN, Va., Oct. 23, 2025 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market SurveyĀ® (PMMSĀ®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.19%.

ā€œMortgage rates continued to trend down this week, hitting their lowest level in over a year,ā€ said Sam Khater, Freddie Macā€™s Chief Economist. ā€œAt the start of 2025, the 30-year fixed-rate mortgage surpassed 7%, while today it hovers nearly a full percentage point lower. This dynamic has kept refinancings high, accounting for more than half of all mortgage activity for the sixth consecutive week.ā€

News Facts

  • TheĀ 30-year FRMĀ averaged 6.19% as of October 23, 2025, down from last week when it averaged 6.27%. A year ago at this time, the 30-year FRM averaged 6.54%.
  • TheĀ 15-year FRMĀ averaged 5.44%, down from last week when it averaged 5.52%. A year ago at this time, the 15-year FRM averaged 5.71%.

The PMMSĀ® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Macā€™s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube