The current average mortgage rate on a 30-year fixed mortgage is 6.55%, according to the Mortgage Research Center. The average rate on a 15-year mortgage is 5.64%, while the average rate on a 30-year jumbo mortgage is 6.

Trump could order the Treasury Department to start buying mortgage-backed securities, like when the Federal Reserve bought roughly $1.45 trillion of MBSs during the Great Recession. That was popularly known as quantitative easing. Buying MBS can reduce mortgage rates by increasing competition and increasing mortgage market liquidity.

Rates on 30-year new purchase loans ended last week 5 basis points lower than the previous Friday, dipping to a 6.79% average. That's now the cheapest weekly average of 2025. Compared to five weeks ago, when rates shot up to a 7-month high of 7.09%, today's 30-year rates are a substantial 30 basis points lower.

"This week, mortgage rates decreased to their lowest level in over two months," says Freddie Mac Chief Economist Sam Khater. "The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home."

This week, mortgage rates decreased to their lowest level in over two months. The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home,

The yield on the 10-year Treasury bond continues to inch lower and that’s having the effect of pulling down mortgage rates. The bond’s yield has fallen fro