The average 30-year fixed-rate mortgage has finally fallen below 7%, after hitting a six-month high in January, according to the latest from Freddie Mac.
Experts predict mortgage rates will remain largely unchanged in 2025, settling somewhere in the mid- to low-6s by the end of the year. Wells Fargo’s annual outlook forecasts rates will reach about 6.3% in late 2025. Other reports show that rate will hover closer to 6.5%.
Mortgage rates react to a number of economic forces but generally follow the same directional pattern as interest rates, set by the Federal Reserve. And as of now, the Fed isn’t planning to cut rates any time soon.
Still, it’s important to note the rates reported by platforms like Freddie Mac and Mortgage News Daily are just an average. That means some folks will secure lower mortgage rates, and some may lock in something higher. Your exact rate depends on your unique personal finances. That’s why working with a lender before you start house hunting is key.
With the support of our experienced agents and trusted lender partners, we are ready to navigate the market to your advantage so you can move forward with confidence.
