The average 30-year fixed-rate mortgage has declined four straight weeks
 of ConsumerAffairs
 of ConsumerAffairs- 
	Mortgage rates fell for the fourth straight week, with the 30-year fixed-rate mortgage averaging 6.17% and the 15-year at 5.41%, their lowest levels in over a year, according to Freddie Mac. 
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	The typical monthly housing payment dropped to $2,530, down 1.4% year over year, as lower borrowing costs offset modestly rising home prices. 
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	Buyer and seller activity is picking up: pending home sales rose 1%, new listings climbed 4.6%, and agents say pricing homes correctly from the start is key in a market where buyers hold more negotiating power. 
Conditions continue to improve for home buyers. Not only are home prices easing in several large housing markets, mortgage rates continue to decline.
Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.17% this week. Thats only two basis points less than the previous week, but Freddie Mac Chief Economist Sam Khater its part of a promising trend.
Mortgage rates decreased for the fourth consecutive week, Khater said in a statement. The last few months have brought lower rates and homebuyers are increasingly entering the market.
Current rates
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	The 30-year FRM averaged 6.17% as of October 30, 2025, down from last week when it averaged 6.19%. A year ago at this time, the 30-year FRM averaged 6.72%. 
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	The 15-year FRM averaged 5.41%, down from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 5.99%. 
The decline in mortgage rates coincides with an improvement in homeowners bottom line. The typical monthly housing payment has fallen to $2,530 down 1.4% from a year ago marking the biggest annual decline since November 2024, according to a new Redfin report.
The drop comes as mortgage rates slid to their lowest level in more than a year, following a cooler-than-expected inflation report and a recent Federal Reserve rate cut. Even though home prices are still rising up 1.9% year over year the decline in borrowing costs has helped offset those gains.
However, Redfin economists caution that further drops in mortgage rates arent likely soon. The Fed has signaled it may hold off on another rate cut in December, which already caused a slight uptick in daily averages late this week.
Homebuyers and sellers react
While overall homebuying demand remains muted, there are early signs of renewed interest. Pending sales rose 1% from last year, and mortgage-purchase applications climbed 5% from the previous week. Some buyers are waiting to see if rates dip below 6%, while others remain hesitant amid ongoing economic uncertainty.
On the other side of the market, new home listings jumped 4.6%, the largest increase in five months. Many sellers are hoping to attract buyers now that financing costs have eased slightly.
Sellers should do their research and price correctly from the beginning, said Matt Purdy, a Redfin Premier agent in Denver. The longer your house sits on the market, the lower the sale price is likely to be. Buyers today are choosy and have negotiating power, especially if theyre not relying on selling another home first.
With more homes hitting the market and cautious buyers testing the waters, this falls housing market could offer rare opportunities but both sides will need to stay flexible and well-informed.
Posted: 2025-10-31 11:25:59

 
															 
															 
															 
															 
															 
															 
			 
									 
			 
			        








