US 30-Year Mortgage Rate Falls to 6.69%, Lowest Since October

Mortgage rates in the United States have declined for the second consecutive week. Freddie Mac reported on Thursday that the average rate for a 30-year fixed-rate mortgage has dropped to 6.69%, the lowest since October 24, down from 6.81% last week.

Despite this decrease, borrowing costs remain significantly higher than September levels, suggesting that meaningful relief may still be a long way off. Redfin Corp. forecasts that the 30-year mortgage rate will remain near 7% throughout 2025.