Mortgage rates drop for first time in weeks, still hover near 7%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 05 2025
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Mortgage Rate Trends: Mortgage rates have declined for the first time in weeks, with the average rate on a 30-year fixed mortgage dropping to 6.85% from 6.89%, while the 15-year fixed mortgage rate fell to 5.99% from 6.03%.
Market Implications: This decrease in mortgage rates is seen as positive news for potential homebuyers, coinciding with improved inventory and slowing house price growth, according to Freddie Mac's chief economist Sam Khater.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
