Mortgage interest rates slipped lower over the past week, settling at the lowest level of 2025, but remaining elevated enough to stifle normal levels of buying and selling in the housing market.

Mortgage rates fell slightly again this week but long-term rates remain in the upper-6% range as the housing market continues to drag, waiting for greater declines.

Freddie Mac reports its Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage averaged 6.89%, pulling back from the 7% level. “The 30-yea