Freddie Mac says the average 30-year fixed rate climbed to 6.22%
- The 30-year fixed mortgage rose to 6.22%, up five basis points from last week, while the 15-year rate increased to 5.50%.
- Mortgage rates are tracking the 10-year Treasury yield, which reflects inflation expectations, growth prospects and global market forces.
- Despite lower rates in recent weeks, home sales remain sluggish as buyers face rising prices and economic uncertainty, with homes taking longer to sell.
Mortgage rates are moving higher again after touching a 12-month low. Freddie Mac reports its Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaged 6.22% this week, five basis points higher than the previous week.
But Sam Khater, Freddie Macs chief economist, is looking on the bright side.
This week, the 30-year fixed-rate mortgage averaged 6.22%, Khater said. On a median-priced home, this could allow a homebuyer to save thousands annually compared to earlier this year, showing that affordability is slowly improving.
Current rates
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The 30-year FRM averaged 6.22% as of November 6, 2025, up from last week when it averaged 6.17%. A year ago at this time, the 30-year FRM averaged 6.79%.
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The 15-year FRM averaged 5.50%, up from last week when it averaged 5.41%. A year ago at this time, the 15-year FRM averaged 6.00%.
The Federal Reserve has cut the federal funds interest rate but that has little effect on mortgage rates, which are linked to the yield on the 10-year Treasury note. The 10-year yield is hovering around 4.0%-4.2% in recent trading, according to Wells Fargo Advisors.
The yield is influenced by a mix of inflation expectations, economic growth prospects, monetary policy from the Federal Reserve and global factors.
Falling mortgage rates throughout October drew buyers back to the market, but not that many. Real estate broker Redfin reports pending home sales ticked up 0.7% year over year during the four weeks ending November 2. However, its the smallest increase in four months.
Lingering on the market
Homes are also taking longer to sell. The typical home that sold in October went under contract in 48 days, the longest span for that month since 2019.
Home sales are slow despite declining mortgage rates. The weekly average mortgage rate fell to 6.17% last week, its lowest level in a year, pushing the median monthly housing payment down to $2,508, down 2.1% from a year ago.
Redfin analysts say there are a few reasons homebuyers arent biting on lower rates. Sale prices are still rising, posting their biggest increase in six months, and many house hunters are hesitant to make a major purchase amid widespread economic uncertainty.
Most house hunters arent flat-out stopping their search; instead, theyre being picky and looking for the perfect home, said Rebecca Love, a Redfin Premier agent in Washington, D.C.
Buyers are ultra-cautious with their funds because theyre worried about interest rates, the economy, and potentially losing their job. If theyre going to spend money, they want to check every boxand at the same time, they want a good deal. That means searches are taking longer than usual.
As for sellers, listings are holding steady. New listings are up 4% year over year, similar to the increases Redfin has seen over the last several weeks.
Posted: 2025-11-07 11:56:31


















