Mortgage rates declined this week for the first time in three weeks, offering a small reprieve to U.S. homebuyers, according to data from Freddie Mac.
The average 30-year fixed mortgage rate fell to 6.3%, down slightly from 6.34% last week, while the 15-year rate dipped to 5.53% from 5.55%.
The avg. 30yr FRM decreases to 6.30% https://t.co/K9HBh1pOlD pic.twitter.com/c0xAt8At1o
— Freddie Mac (@FreddieMac) October 9, 2025
Freddie Mac’s chief economist Sam Khater said rates are now at their lowest level in about a year, prompting some renewed buyer interest.
However, confidence in the housing market remains fragile. Redfin reported a 1.3% year-over-year decline in pending home sales in September, the sharpest drop in five months.
Average long-term US mortgage rate eases to 6.3%, back to its lowest level in about a year https://t.co/G1QSsdV8YD pic.twitter.com/8wZZLW5AZc
— Sentinel Business (@OSentinelBiz) October 9, 2025
Many buyers remain hesitant amid economic uncertainty, the ongoing government shutdown, and concerns about affordability.
“A government shutdown doesn’t just stop paychecks—it shakes Americans’ financial confidence,” said Redfin’s Daryl Fairweather.
Homes are now taking an average of 48 days to sell, the longest since 2019.
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TIPP Staff
