Mortgage Rates Drops To Lowest Level In Over A Year

(RTTNews) - Mortgage rates, or interest rates on home loans, dropped this week, reaching the lowest level in over a year, according to mortgage provider Freddie Mac (FMCC.OB).

The 30-year FRM averaged 6.19% as of October 23, 2025, down from last week when it averaged 6.27%. A year ago at this time, the 30-year FRM averaged 6.54%.

The 15-year FRM averaged 5.44%, down from last week when it averaged 5.52%. A year ago at this time, the 15-year FRM averaged 5.71%.

"Mortgage rates continued to trend down this week, hitting their lowest level in over a year," said Sam Khater, Freddie Mac's Chief Economist. "At the start of 2025, the 30-year fixed-rate mortgage surpassed 7%, while today it hovers nearly a full percentage point lower. This dynamic has kept refinancings high, accounting for more than half of all mortgage activity for the sixth consecutive week."