The average US mortgage rate just fell to the lowest point of the year

The average rate on a 30-year U.S. mortgage fell to its lowest level of 2025 this week, an encouraging sign for prospective home buyers.

The average long-term mortgage rate dipped to 6.15% from 6.18% last week, mortgage buyer Freddie Mac said Wednesday. A year ago, the rate averaged 6.91%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, fell this week to 5.44% from 5.50% the previous week. A year ago it averaged 6.13%, Freddie Mac said.

Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

The 10-year yield was at 4.14% at midday Wednesday, down a touch from last week’s 4.15%.

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