Mortgage Rates Continue Their Sinking Streak, Dropping 7 Consecutive Days to New 2025 Low

 

Mortgage rates for 30-year loans experienced a decline for the seventh consecutive day on Friday, bringing the average down to 6.55%. This figure represents the lowest level observed since early December. Additionally, there was a downward trend in rates for various other mortgage categories.

Today's Average Mortgage Rates for New Purchases  

The average rates for 30-year new purchase mortgages have experienced a decline for seven consecutive days, with a notable drop on Friday bringing the average down to 6.55%. This represents a decrease of nearly 30 basis points since February 19, marking the most affordable level since December 9.

In September, the 30-year rates saw a significant decrease, reaching a two-year low of 5.89%. However, over the following three months, the average increased by nearly 1.25 percentage points before recently trending downward again.

Looking back further, the 30-year average peaked at 7.37% last spring, indicating a substantial improvement in today's rates compared to 11 months ago. Additionally, they are approximately 1.45 percentage points lower than the historic peak of 8.01% recorded in October 2023.