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Current mortgage rates report for May 6, 2025: Rates tick back up

See Tuesday'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.
On May 6, 2025, mortgage rates have seen a slight increase, with the average 30-year fixed mortgage rate rising to 7.125% from 7.000% the previous week, and the 15-year fixed rate increasing to 6.375% from 6.250%. This uptick is attributed to ongoing economic recovery and inflation concerns, which continue to influence the Federal Reserve's monetary policy decisions. Despite the rise, experts suggest that rates may stabilize in the coming months as the economy finds a new equilibrium. Homebuyers are advised to consider locking in rates now if they find favorable terms, as the market remains unpredictable.

Read the Full Fortune Article at:
https://fortune.com/article/current-mortgage-rates-05-06-2025/