Freddie Mac reports 30-year fixed mortgage rate drops to 6.76%; rates fall below first quarter average of 6.83% and remain lower than 7.22% recorded one year ago

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.76%.

“Mortgage rates again declined this week,” said Sam Khater, Freddie Mac’s Chief Economist. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of 6.83%.”

News Facts

• The 30-year FRM averaged 6.76% as of May 1, 2025, down from last week when it averaged 6.81%. A year ago at this time, the 30-year FRM averaged 7.22%.
• The 15-year FRM averaged 5.92%, down from last week when it averaged 5.94%. A year ago at this time, the 15-year FRM averaged 6.47%.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. For more information, view our Frequently Asked Questions.

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