Factors that could influence mortgage rates in 2025 include inflation and the Federal Reserve cutting key interest rates.
Mortgage rates are still stable after making a slight uptick despite unpredictability in the housing industry.
Freddie Mac reported in its Primary Mortgage Market Survey that the 30-year fixed-rate mortgage (FRM) increased this week to its highest level since February.
By the numbers:
The 30-year fixed-rate mortgage (FRM) averaged 6.89% as of May 29, 2025, up from last week when it averaged 6.86%. According to the Freddie Mac survey, at this time last year, the 30-year fixed-rate mortgage averaged 7.03%.
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A 15-year fixed-rate mortgage averaged 6.03%, which is up from last week when it averaged 6.01%. A year ago, at this time, the 15-year FRM averaged 6.36%.
Consumer Affairs reported that the analysis suggests that mortgage rates will fall between 6.7% and 7.1% through early July. Some projections indicate an average rate of 6.96% by mid-June, with potential spikes climbing to 7.17%.
Why you should care:
Whether you're a prospective homebuyer or current homeowner, there are several factors that might influence mortgage rates within the next six months with Consumer Affairs outlining the following: