Mortgage Rates Hit 11-Month Low in Latest Primary Mortgage Market Survey®
Borrowers continue to benefit from lowering mortgage rates as the average 30-year fixed has dropped to an 11-month low, according to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac on Thursday.
According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac on Thursday, the 30-year fixed-rate mortgage (FRM) has decreased yet again, averaging 6.26%, an 11-month low.
This is good news for borrowers, who continue to benefit from the lowering mortgage rates. However, the decrease in rates is also a reflection of the current state of the housing market, which is seeing a slowdown in sales and increasing affordability issues.
The decrease in mortgage rates can also be attributed to the recent economic uncertainty, including the ongoing trade tensions between the U.S. and China. According to Sam Khater, Freddie Mac’s Chief Economist, “The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring homebuying season.”
However, not everyone is convinced that the decrease in mortgage rates will have a significant impact on the housing market, as the issue of affordability still remains a major concern for potential homebuyers.
“Despite the drop in mortgage rates, the housing market is still facing challenges with affordability,” said Danielle Hale, Chief Economist at realtor.com. “The decline in rates will provide some relief for buyers, but with prices still on the rise, many will still struggle to find a home within their budget.”
https://www.rismedia.com/2025/09/18/mortgage-rates-continue-to-move-down/