During the first quarter this year, single-family home prices climbed 1.4% on a seasonally adjusted and non-seasonally adjusted basis. Home prices were up 5.2% from Q1 2024 to Q1 2025, about even with the previous quarter’s year-over-year growth rate of 5.3%. That’s all according to the Fannie Mae Home Price Index.
The index is a national, repeat-transaction home price index measuring the average, quarterly price change for all single-family properties in the United States, excluding condos.
Meanwhile, the 30-year fixed-rate mortgage (FRM) averaged 6.83% as of Thursday, April 17, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). That is 21 basis points above the 6.62% average the prior week.
The 15-year FRM averaged 6.03%, also an increase of 21 basis points from the 5.82% average the week before.
Even with those increases, Freddie Mac Chief Economist Sam Khater noted that rates are still averaging lower than they did at this same time last year, and demand is up in 2025.
“The 30-year fixed-rate mortgage ticked up but remains below the 7% threshold for the 13th consecutive week,” Khater stated in a release. “At this time last year, rates reached 7.1% while purchase application demand was 13% lower than it is today, a clear sign that this year’s spring home-buying season is off to a stronger start.”
Looking back at mortgage rate trends from the beginning of the year, Freddie Mac’s survey found the 30-year FRM rate averaged:
- 6.83% as of April 17, 2025;
- 6.62% as of April 10, 2025;
- 6.64% as of April 3, 2025;
- 6.65% as of March 27, 2025;
- 6.67% as of March 20, 2025;
- 6.65% as of March 13, 2025;
- 6.63% as of March 6, 2025;
- 6.76% as of Feb. 27, 2025;
- 6.85% as of Feb. 20, 2025;
- 6.87% as of Feb. 13, 2025;
- 6.89% as of Feb. 6, 2025;
- 6.95% as of Jan. 30, 2025;
- 6.96% as of Jan. 23, 2025;
- 7.04% as of Jan. 16, 2025;
- 6.93% as of Jan. 9, 2025; and
- 6.91% as of Jan. 2, 2025.
The PMMS found the 15-year FRM rate averaged:
- 6.03% as of April 17, 2025;
- 5.82% as of April 10, 2025;
- 5.82% as of April 3, 2025;
- 5.89% as of March 27, 2025;
- 5.83% as of March 20, 2025;
- 5.80% as of March 13, 2025;
- 5.79% as of March 6, 2025;
- 5.94% as of Feb. 27, 2025;
- 6.04% as of Feb. 20, 2025;
- 6.09% as of Feb. 13, 2025;
- 6.05% as of Feb. 6, 2025;
- 6.12% as of Jan. 30, 2025;
- 6.16% as of Jan. 23, 2025;
- 6.27% as of Jan. 16, 2025;
- 6.14% as of Jan. 9, 2025; and
- 6.13% as of Jan. 2, 2025.
Note that Freddie Mac’s PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
