US EditionMortgage Rates Jumped Slightly but Remain Under 7%
- Freddie Mac reported this week that the 30-year fixed mortgage rate rose slightly to 6.89% as of May 29, 2025, in the U.S.
- This increase follows three straight weeks of rising rates driven by higher 10-year Treasury yields and ongoing economic volatility.
- The 15-year fixed mortgage rate also inched up to 6.03%, while home prices fell month-over-month and sales of existing homes remained subdued.
- Freddie Mac's Chief Economist Sam Khater noted, "Mortgage rates rose modestly this week," as affordability pressures continue due to high borrowing costs.
- Persistently high mortgage rates are likely to keep home sales low and limit affordability, which could postpone a rebound in the housing market and related sectors in the near future.
12 Articles
12 Articles
Homeowners with +£300k left to pay off on their mortgage nearly doubles in past 7 years - IFA Magazine
Analysis of the latest Financial Lives Survey from the Financial Conduct Authority (FCA) shows a growing proportion of homeowners with significant levels of outstanding mortgage debt. The proportion of homeowners with over £300,000 left to pay on their mortgage has nearly doubled in the past seven years, rising from 5% to 9% between 2017 and 2024. This is particularly marked in areas where house prices are higher such as London where that propo…
Average rate on a 30-year mortgage in U.S. rises to 6.89%, its highest level since early February
The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since early February, further pushing up borrowing costs for homebuyers. The rate increased to 6.89% from 6.86% last week, mortgage buyer Freddie Mac…
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