Average long-term mortgage rates in the US inch up but stay close to their lowest point of 2025

30-Year Mortgage Rates See Slight Increase

This week, the average interest rate for a 30-year fixed mortgage in the United States inched up, hovering just above its lowest point for 2025.

According to Freddie Mac, the typical rate for a long-term mortgage climbed to 6.16%, a minor uptick from last week's 6.15%—the lowest since October 3, 2024. At this time last year, the average stood at 6.93%.

For 15-year fixed-rate mortgages, which are often chosen by homeowners looking to refinance, the average rate increased to 5.46% from 5.44% the previous week. One year ago, this rate was 6.14%, as reported by Freddie Mac.

Several elements impact mortgage rates, including the Federal Reserve’s decisions on interest rates, as well as the outlook of bond market investors regarding economic growth and inflation. Mortgage rates typically move in line with the 10-year Treasury yield, which serves as a benchmark for lenders when setting home loan rates.

As of midday Thursday, the yield on the 10-year Treasury was at 4.17%.