After dipping for two days, 30-year mortgage rates edged higher, again nearing their highest level since early July. Rate movement was mixed for other loan types.

Mortgage rates touched their highest point since July, while the market's affordability headwinds continued to persist, the latest Freddie Mac Primary Mortgage Survey showed. 30-year fixed-rate mortgages averaged 6.

“Inching up to just shy of 7%, mortgage rates reached their highest point in nearly six months,” said Sam Khater, Freddie Mac’s chief economist. “Compared to this time last year, rates are elevated and the market’s affordability headwinds persist. However, buyers appear to be more inclined to get off the sidelines as pending home sales rise.”

According to Freddie Mac’s Primary Mortgage Market Survey (PMMS ®), as of January 2, 2025, mortgage rates have surged to their highest point in nearly six months, with the 30-year fixed-rate mortgage (FRM) averaging 6.

US mortgage rates climbed to an almost six-month high during the Christmas holiday week, suppressing applications for home purchases and severely undercutting refinancing activity.

The average rate on a 15-year fixed-rate mortgage, popular with homeowners seeking to refinance, climbed to 6.13%, up from 6% and also the highest since July. It was at 5.89% a year ago.