U.S. 30-Year Mortgage Rate Drops to 6.65% in Second Consecutive Weekly Decline
Freddie Mac survey shows benchmark 30-year home loan rate easing to 6.65% as bond yields hold near 4.7%
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U.S. home loan borrowing costs notched a second straight weekly retreat, mortgage buyer Freddie Mac announced Thursday.
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage fell to 6.65% from last week’s reading of 6.67%.
The average rate on a 30-year loan was 6.58% a year ago.
Higher borrowing costs relative to last year continue to test buyer budgets, keeping national home purchasing power constrained despite recent back-to-back rate drops.
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A real estate agent sets up for an open house in Rancho Cucamonga, California, on May 9, 2026. (Kyle Grillot/Bloomberg via Getty Images)
The average rate on a 15-year fixed mortgage fell to 5.95% from last week’s reading of 5.96%.
Because mortgage lenders price long-term home loans against risk-free government debt, yield fluctuations in the bond market serve as the direct benchmark for consumer interest rates.
Multiple macroeconomic forces shape borrowing costs, ranging from Federal Reserve policy expectations to broader geopolitical events. Rather than taking direct cues from central bank benchmark adjustments, home financing costs align with the 10-year Treasury yield, which was hovering near 4.7% on Thursday afternoon.
