Freddie Mac: Mortgage Rates Continue to Trend Up

Freddie Mac released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.93 percent.

“In the first full week of the new year, the 30-year fixed-rate mortgage remained elevated at just under 7 percent,” said Sam Khater, Freddie Mac’s Chief Economist. “The continued strength of the economy has put upward pressure on mortgage rates, and along with high home prices, continues to impact housing affordability. The lack of entry-level supply also remains an issue, especially for those looking to become first-time homeowners.”

News Facts

• The 30-year FRM averaged 6.93 percent as of January 9, 2025, up from last week when it averaged 6.91 percent. A year ago at this time, the 30-year FRM averaged 6.66 percent.
• The 15-year FRM averaged 6.14 percent, up from last week when it averaged 6.13 percent. A year ago at this time, the 15-year FRM averaged 5.87 percent.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

About Freddie Mac

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube

Contact:

Mollie Laniado – Media Contact – Mollie_Laniado@FreddieMac.com – (571) 382-1784

Source: Freddie Mac