Despite its recent upward move, the average rate on a 30-year mortgage is still down from 7.22 percent in May, its peak so far this year. In late September, the average rate got as low as 6.08 percent — its lowest level in two years.

Mortgage rates have come down quite a bit from their 2023 peak, but how much further could they fall in 2025? Find out here.

The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb. The rate slipped to 6.78% from 6.79% last week, mortgage buyer Freddie Mac said Thursday.

The current median interest rate is 6.99% for a 30-year fixed-rate mortgage and 6.25% for a 15-year fixed-rate mortgage

Freddie Mac says the average rate on a 30-year mortgage slipped to 6.78% this week, ending a six-week climb

Mortgage rates fell slightly in the week ending Nov. 14, marking the first time weekly rates have gone down since September. The average rate on a 30-year fixed-rate mortgage dropped seven basis points to 6.79%, according to rates provided to NerdWallet by Zillow. A basis point is one-one hundredth of a percentage point.