U
.S. mortgage rates slipped again this week, reaching the lowest 30‑year average in over a year. Freddie Mac reported the 30‑year rate fell to 6.19% from 6.27% last week, down from 6.54% a year ago. This is the third consecutive weekly drop, bringing the average to its lowest point since Oct. 3, 2024, when it was 6.12%. The 15‑year fixed rate also eased, falling to 5.44% from 5.52% and from 5.71% a year earlier. Mortgage costs remain above 6%, but the trend continues to lift sluggish U.S. home sales.

    Rates are driven by the Fed’s policy stance, bond‑market expectations for growth and inflation, and the 10‑year Treasury yield, which lenders use as a benchmark. The 10‑year yield was 3.99% at mid‑day Thursday, close to 3.97% the previous week.