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

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

//house-home.news-articles.net/content/2025/05/0 .. port-for-may-9-2025-rates-take-a-small-drop.html

Published in House and Home on Friday, May 9th 2025 at 4:09 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 such as foul language or violent themes

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/ ]