The average rate on a 30-year mortgage in the United States has eased for the second week in a row, but remains just below 7%, offering little relief to prospective home shoppers looking ahead to the spring homebuying season. According to mortgage buyer Freddie Mac, the rate fell to 6.95% from 6.96% last week.<\/p>\n
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also eased this week. The average rate dropped to 6.12% from 6.16% last week.<\/p>\n
Mortgage rates are influenced by several factors, including how the bond market reacts to the Federal Reserve’s interest rate policy decisions. The average rate on a 30-year mortgage briefly fell to a 2-year low just above 6% last September, but has been mostly rising since then, echoing a sharp rise in the 10-year Treasury yield, which lenders use as a guide for pricing home loans.<\/p>\n
The yield, which was at 3.62% in mid-September, reached 4.79% two weeks ago amid fears inflation may remain stubbornly higher than the Fed’s 2% target. A solid U.S. economy and worries about tariffs and other policies potentially coming from President Donald Trump have also helped push bond yields higher. The 10-year Treasury yield was at 4.53% in midday trading Thursday.<\/p>\n
Elevated mortgage rates, which can add hundreds of dollars a month in costs for borrowers, have discouraged home shoppers, prolonging a national home sales slump that began in 2022. While sales of previously occupied U.S. homes rose in December for the third month in a row, 2024 was the worst year for home sales in nearly 30 years, worse than 2023, which had been the worst in decades.<\/p>\n
“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,” said Sam Khater, Freddie Mac’s chief economist.<\/p>\n
The average rate on a 30-year mortgage has eased for the second week in a row, but remains just below 7%. While this may offer some relief to prospective home shoppers, elevated mortgage rates and a persisting supply shortage continue to present hurdles for many buyers.<\/p>\n
* What is the current average rate on a 30-year mortgage?
\nThe average rate on a 30-year mortgage is 6.95%.
\n* How has the 10-year Treasury yield changed?
\nThe 10-year Treasury yield was at 3.62% in mid-September and reached 4.79% two weeks ago.
\n* What is the current rate on 15-year fixed-rate mortgages?
\nThe average rate on 15-year fixed-rate mortgages is 6.12%.
\n* Why are mortgage rates rising?
\nMortgage rates are influenced by the Federal Reserve’s interest rate policy decisions and the 10-year Treasury yield, which can be affected by factors such as inflation, tariffs, and economic growth.<\/p>\n","protected":false},"excerpt":{"rendered":"
Average Rate on 30-Year Mortgage Eases for Second Week in a Row, but Remains Just Below 7% Mortgage Rates Ease for Second Consecutive Week The average rate on a 30-year mortgage in the United States has eased for the second week in a row, but remains just below 7%, offering little relief to prospective home […]<\/p>\n","protected":false},"author":4,"featured_media":7033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[],"class_list":{"0":"post-7032","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-real-estate"},"jetpack_featured_media_url":"https:\/\/i3.wp.com\/www.sun-sentinel.com\/wp-content\/uploads\/2025\/01\/Mortgage_Rates_35662_2bcd59.jpg?w=1024&h=682&w=1024&resize=1024,682&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/posts\/7032"}],"collection":[{"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/comments?post=7032"}],"version-history":[{"count":1,"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/posts\/7032\/revisions"}],"predecessor-version":[{"id":7034,"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/posts\/7032\/revisions\/7034"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/media\/7033"}],"wp:attachment":[{"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/media?parent=7032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/categories?post=7032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citystuff.com\/miami\/wp-json\/wp\/v2\/tags?post=7032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}