Mortgage Rates Hover Below 7% Mark

(RTTNews) - Mortgage rates, or interest rates on home loans, hover below the 7 percent mark, according to mortgage provider Freddie Mac (FMCC.OB).

The 30-year FRM averaged 6.95% as of January 30, 2025, down slightly from last week when it averaged 6.96%. A year ago at this time, the 30-year FRM averaged 6.63%.

The 15-year FRM 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%.

"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."