U.S. Mortgage Rates Rise in Early 2025, Reach 6-Month High

Based on Freddie Mac’s first Primary Mortgage Market Survey (PMMS) of 2025, the 30-year fixed-rate mortgage (FRM) averaged 6.91 percent as of January 2, 2025.

Sam Khater

“Inching up to just shy of seven percent, mortgage rates reached their highest point in nearly six months,” said Sam Khater, Freddie Mac’s Chief Economist. “Compared to this time last year, rates are elevated and the market’s affordability headwinds persist. However, buyers appear to be more inclined to get off the sidelines as pending home sales rise.”

Freddie Mac News Facts January 2025:

• The 30-year FRM averaged 6.91 percent as of January 2, 2025, up from last week when it averaged 6.85 percent. A year ago at this time, the 30-year FRM averaged 6.62 percent.
• The 15-year FRM averaged 6.13 percent, up from last week when it averaged 6.0 percent. A year ago at this time, the 15-year FRM averaged 5.89 percent.