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Investing.com -- Mortgage rates in the United States continued their downward trend this week, with the 30-year fixed-rate mortgage averaging 6.19%, according to Freddie Mac’s (OTCQB:FMCC) Primary Mortgage Market Survey released Thursday.
The latest rate represents a decrease from last week’s average of 6.27% and sits well below the 6.54% recorded during the same period last year.
"Mortgage rates continued to trend down this week, hitting their lowest level in over a year," said Sam Khater, Freddie Mac’s Chief Economist. "At 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."
The 15-year fixed-rate mortgage also declined, averaging 5.44% this week, down from 5.52% last week. A year ago, the 15-year rate stood at 5.71%.
The current mortgage rates mark a significant drop from the beginning of the year, when rates were above 7%, creating favorable conditions for homeowners looking to refinance their existing mortgages.
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