Mortgage Rates Rise Slightly, But Stays Below 7%

(RTTNews) - Mortgage rates, or interest rates on home loans, rose from last week, but continues to stay below 7%, according to mortgage provider Freddie Mac (FMCC.OB).

"The 30-year fixed-rate mortgage remained below the 7% threshold for the 17th consecutive week," said Sam Khater, Freddie Mac's Chief Economist. "Stable mortgage rates coupled with moderately rising inventory are attracting homebuyers into the market, with purchase application activity up 18% from last year."

The 30-year FRM averaged 6.81% as of May 15, 2025, up from last week when it averaged 6.76%. A year ago at this time, the 30-year FRM averaged 7.02%.

The 15-year FRM averaged 5.92%, up from last week when it averaged 5.89%. A year ago at this time, the 15-year FRM averaged 6.28%.