Freddie Mac released their weekly Prime Mortgage Market Survey this week showing the lowest rates for the 30-year fixed in over a year.
From Freddie Mac:
“Mortgage rates continued to trend down this week, hitting their lowest level in over a year. 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“.
The survey is based on rates from over the past week so it’s important to keep in mind that they are expired. The good news is that mortgage rates are still low! I’ve secured some great rates for clients this past week 😍
Mortgage rates also have several factors when it comes to pricing out the rate and price (points) for the rate. If you’ve been thinking about refinancing or buying a home, let’s talk! I’m happy to provide you with a no-hassle rate quote.
It’s finally here. The day we think we’ve been waiting for…the wrap up of the two day FOMC meeting where it is highly expected that Fed Chair Powell will announce that the fed funds rate will be reduced 0.25. As I write this (9:45 am Seattle time) MBS (mortgage-backed securities, which mortgage interest rates are based on) are pretty flat – up about 1 basis point. They’re flat because the markets have already priced in the quarter point rate reduction by the Fed. So if the Fed announces that there is not going to be a reduction to the funds rate or if they decide to cut 0.50 – we will see some serious market reaction. 
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