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Current mortgage rates report for May 9, 2025: Rates take a small drop

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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
On May 9, 2025, mortgage rates have seen a slight increase, with the average 30-year fixed mortgage rate rising to 7.125% from last week's 7.000%, and the 15-year fixed rate also up to 6.375% from 6.250%. This uptick is attributed to ongoing economic recovery and inflation concerns, prompting the Federal Reserve to maintain a cautious approach to interest rates. Despite the rise, experts suggest that rates remain relatively favorable historically, encouraging potential homebuyers to consider locking in rates soon, especially as the housing market shows signs of stabilization with home prices leveling off in many regions.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-mortgage-rates-05-09-2025/ ]