FX.co ★ US Mortgage Rates Drop to Over 1-Year Low

As of October 23, 2025, the average interest rate for a 30-year fixed-rate mortgage decreased to 6.19%, a drop from 6.27% the previous week, marking the third consecutive weekly decline to its lowest point in over a year, as reported by a survey conducted by Freddie Mac. "This week, mortgage rates continued to decrease, reaching their lowest level in over a year. Earlier in 2025, the 30-year fixed-rate mortgage exceeded 7%, but it has now fallen by nearly one percentage point. This trend has sustained a high level of refinancing activity, representing more than half of all mortgage transactions for the sixth week in a row," stated Sam Khater, Chief Economist at Freddie Mac.