Mortgage rates edged higher this week, with the 30-year fixed-rate mortgage (FRM) averaging 6.86% as of May 22, 2025, up from 6.81% the previous week but still below the 6.94% average from a year ago; the 15-year FRM also increased to 6.01%. Despite the slight increase, purchase application activity remains steady, supported by increased housing inventory compared to recent years, according to Freddie Mac's Chief Economist.
Mortgage rates registered a marginal increase in the week ending May 22, 2025, with the 30-year fixed-rate mortgage (FRM) averaging 6.86%, up from 6.81% the prior week, while the 15-year FRM rose to 6.01% from 5.92%, according to data from Freddie Mac. Despite this weekly rise, both key mortgage rates remain below their levels from a year ago, when the 30-year FRM stood at 6.94% and the 15-year FRM was at 6.24%. Significantly, Freddie Mac's Chief Economist, Sam Khater, noted that purchase application activity is maintaining its current levels, supported by an increase in housing inventory available to buyers compared to recent years. This dynamic suggests that while borrowing costs have edged higher week-over-week, the improved supply in the housing market is presently counterbalancing this pressure, contributing to stable demand. The overall sentiment is mixed, reflecting the opposing forces of slightly higher weekly rates against lower year-over-year rates and resilient buyer activity.
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mixed
Sentiment Score
0.05
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