Mortgage rates drop for second week, 30-year fixed rate at 6.76%

From Yahoo Finance: 2025-05-01 12:42:00

Mortgage rates fell for the second week in a row, with the average rate on a 30-year fixed mortgage dropping to 6.76% from 6.81%. Last year, the rate was 7.22%. Rates for the 15-year fixed mortgage also decreased slightly. The housing market faces supply issues, with a gap of 3.8 million homes. Realtor.com CEO Damian Eales is optimistic that easing mortgage rates will help.

Read more: Mortgage rates fall for 2nd straight week, Freddie Mac says