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Freddie Mac’s latest weekly benchmark available on May 19, 2025, put the average 30-year fixed mortgage rate at 6.81% and the 15-year rate at 5.92%. Both averages had risen slightly from the prior week, so “fairly stable” means modest increases—not unchanged rates. These are historical figures, not current 2026 mortgage rates.
Freddie Mac’s mortgage rate averages available on May 19, 2025
Freddie Mac reported the figures below in its Primary Mortgage Market Survey (PMMS) release dated May 15, 2025. The survey is weekly; these are not daily quotes for May 19.
| Fixed-rate loan term | May 15, 2025 average | May 8, 2025 average | Week-over-week change |
|---|---|---|---|
| 30-year | 6.81% | 6.76% | Up 0.05 percentage points |
| 15-year | 5.92% | 5.89% | Up 0.03 percentage points |
Freddie Mac’s May 15 release described rates as remaining under 7%. The small increases from May 8 are consistent with a relatively steady week, but neither rate was flat.
How the May 19 date fits the weekly rate data
There was no May 19 daily figure in the cited Freddie Mac data. The closest benchmark available on that date was the May 15 PMMS release. The next weekly reading, reported May 22, was 6.86% for a 30-year fixed mortgage and 6.01% for a 15-year fixed mortgage. That later reading shows the averages continued to move modestly higher around the title date; it should not be mistaken for a May 19 quote. Freddie Mac’s 2025 survey archive lists the weekly history.
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What Freddie Mac’s averages do—and do not—represent
PMMS focuses on conventional, conforming, fully amortizing home-purchase loans for borrowers with 20% down and excellent credit. Freddie Mac says its results draw on rates from thousands of loan applications submitted through its Loan Product Advisor system by lenders across the country; its survey methodology describes that basis.
The averages are a benchmark, not a rate offer or forecast for a particular borrower. A lender’s quote can differ with the borrower’s credit, down payment, loan amount, property, location, loan program, points, and other terms. The PMMS figures do not establish the rate available for government-backed loans or for applicants whose circumstances differ from the survey profile.
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What Freddie Mac said about the housing market
In the May 15 release, Freddie Mac Chief Economist Sam Khater said: “Stable mortgage rates coupled with moderately rising inventory are attracting homebuyers into the market, with purchase application activity up 18% from last year.” The 18% comparison is the year-over-year activity cited in that release, not a statistic specific to May 19.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to compare a 15-year mortgage with a 30-year mortgage
The lower 15-year survey average does not by itself show which loan is the better fit. Compare actual loan estimates for the same purchase and borrower, and consider the payment, cost over time, and cash needed at closing.
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- Monthly payment: A 15-year term repays the balance over a shorter period, which generally means a higher required monthly principal-and-interest payment than a 30-year term for the same loan amount. Check that the payment remains manageable alongside taxes, insurance, maintenance, and other obligations.
- Total interest: A shorter payoff period generally means less time for interest to accrue, but the dollar difference depends on the loan amount, offered rates, and repayment details. Use the lender’s disclosures or a calculator with your actual terms rather than applying the survey averages as a personal savings estimate.
- Rate and APR: Compare both. The interest rate determines the interest calculation, while APR reflects the rate plus certain costs and can help show borrowing cost on a comparable basis. Review the lender’s disclosures to see which charges are included.
- Points and upfront charges: Compare discount points, origination charges, and other closing costs. A lower advertised rate may require more cash upfront; assess the trade-off using the terms and the time you expect to keep the mortgage.
- Flexibility: The 30-year schedule spreads required repayment over more time, while the 15-year schedule builds in a faster payoff. Choose based on your budget and priorities, not the weekly average alone.
Freddie Mac’s release provides market averages, not personalized loan estimates, so it cannot determine a household’s payment or savings from choosing one term.
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