MCLEAN, Va. — The average rate on a 30-year U.S. mortgage slipped this week to its lowest level in 10 months, but remains close to where it\u2019s been in recent weeks.<\/p>\n
The long-term rate eased to 6.56% from 6.58% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.35%.<\/p>\n
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, were unchanged from last week. The average rate held steady at 5.69%. A year ago, it was 5.51%, Freddie Mac said.<\/p>\n
Elevated mortgage rates have added to a slump in the U.S. housing market that began in early 2022, when rates began climbing from pandemic lows.<\/p>\n
For much of the year, the average rate on a 30-year mortgage has hovered relatively close to its 2025 high of just above 7%, set in mid-January. It\u2019s has mostly trended lower six weeks in a row and is now at the lowest level since Oct. 24, when it averaged 6.54%.<\/p>\n
The recent downward trend in mortgage rates bodes well for prospective homebuyers who have been held back by stubbornly high home financing costs. But it has yet to translate into a turnaround for home sales, which have remained sluggish this year<\/a> after sinking in 2024<\/a> to their lowest level in nearly 30 years.<\/p>\n","protected":false},"excerpt":{"rendered":"MCLEAN, Va. — The average rate on a 30-year U.S. mortgage slipped this week to its lowest level…\n","protected":false},"author":2,"featured_media":116628,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[75536,966,28,8876,101,9399,17807],"class_list":["post-116627","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-75536","tag-article","tag-business","tag-economic-indicators","tag-economy","tag-mortgages","tag-recessions-and-depressions"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/116627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=116627"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/116627\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/116628"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=116627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=116627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=116627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}