The housing market has been a rollercoaster for both buyers and sellers. Throughout most of 2024 and the first half of 2025, mortgage rates hovered near 7%, limiting affordability and dampening demand.
In April, amid heightened economic tensions, rates rose to an average of 7.22% for a 30-year fixed mortgage and 6.47% for a 15-year loan, according to Freddie Mac. But more recently, borrowing costs have eased. As of September, the average 30-year rate has declined to 6.30%, with the 15-year fixed at 5.49%.
