Current mortgage rates report for May 2, 2025: Rates hold steady

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Current mortgage rates report for May 2, 2025: Rates hold steady

//house-home.news-articles.net/content/2025/05/0 .. tes-report-for-may-2-2025-rates-hold-steady.html

Published in House and Home on Friday, May 2nd 2025 at 14:49 GMT by Fortune

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content

See Friday's report on average mortgage rates on different types of home loans so you can pick the best mortgage for your needs as you house shop

2025-06-29 312 x 156 / 55515 Bytes

On May 2, 2025, mortgage rates have seen a slight increase, with the average 30-year fixed-rate mortgage at 6.5% and the 15-year fixed-rate at 5.875%. This rise is attributed to ongoing economic recovery and inflation concerns, prompting the Federal Reserve to maintain a cautious approach to interest rates. Despite the uptick, rates remain competitive compared to historical highs, offering potential homebuyers a window to secure financing. Experts suggest that while rates may fluctuate, the current environment still favors those looking to purchase or refinance, especially with the possibility of future rate hikes.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-mortgage-rates-05-02-2025/ ]