Mortgage rates fall again with largest weekly decline since mid-September
Published On Mar 7, 2025, 2:23 PM
Mortgage rates in the U.S. have dropped for the seventh consecutive week, reaching an average of 6.63% for a 30-year fixed mortgage, according to Freddie Mac. This decline represents the largest weekly drop in mortgage rates since mid-September and is expected to enhance homebuyers' purchasing power, as well as encourage existing homeowners to refinance. The average rate was 6.88% one year ago.
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The decrease in mortgage rates is likely to stimulate the housing market as more buyers may take advantage of the lower rates to purchase homes or refinance existing mortgages. This could lead to increased activity in the residential real estate sector.
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