Mortgage rates remain steady at 6.7%, with slight decrease in 30-year rate.

From Yahoo Finance: 2025-03-27 12:00:00

Mortgage rates held steady at around 6.7% for the third week in a row. The average 30-year rate was 6.65%, slightly lower than the previous week. Purchase applications saw an uptick due to rate stability, according to Freddie Mac’s chief economist.

As Treasury yields inched up, mortgage rates could follow suit. Despite high rates, home purchases rose slightly, but housing contract activity remained slow in February. The NAR predicts rates to average 6.4% this year, with a modest decline expected.

The Pending Home Sales Index dropped 3.6% year-over-year, but rose 2% from January. Lawrence Yun of the NAR anticipates a moderate decrease in mortgage rates due to slower economic growth. However, high national debt may prevent rates from falling significantly.

Read more: Mortgage rates remain stuck near 6.7%