Mortgage rates in 2025 began on a high note, with Freddie Mac reporting the 30-year fixed-rate mortgage averaging 6.93% as of January 9, up from 6.91% the previous week. This marks the highest rate since July, further straining affordability. The 15-year rate also ticked up slightly, reaching 6.14%.
Economic strength and tight inventory continue to pressure rates and limit entry-level home availability, particularly for first-time buyers.
Rates, which peaked at 7.79% in late 2023, briefly dipped to 6.09% in September 2024 but have since risen.
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