Current mortgage rates report for May 7, 2025: Rates move slightly up

Show House and Home Publications

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[ Tue, Jun 03rd ]: PBS

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Current mortgage rates report for June 2, 2025: Rates remain high

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Current mortgage rates report for May 7, 2025: Rates move slightly up

//house-home.news-articles.net/content/2025/05/0 .. eport-for-may-7-2025-rates-move-slightly-up.html

Published in House and Home on Wednesday, May 7th 2025 at 4:29 GMT by Fortune
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

See Wednesday'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 7, 2025, mortgage rates have seen a slight increase, with the average 30-year fixed mortgage rate rising to 7.05% from 7.02% the previous week, and the 15-year fixed rate increasing to 6.35% from 6.32%. Despite these rises, rates remain below the peak levels observed in late 2023, offering some relief to potential homebuyers. The article also discusses the impact of these rates on home affordability, noting that while higher rates increase monthly payments, a robust job market and wage growth are helping to mitigate the effects. Additionally, the article provides insights into expert predictions for future rate movements, with some analysts expecting rates to stabilize or slightly decrease later in the year, depending on economic conditions and Federal Reserve actions.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-mortgage-rates-05-07-2025/ ]

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