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Current mortgage rates report for May 29, 2025: Elevated rates still holding steady

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See Thursday'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 29, 2025, mortgage rates have seen a slight decrease, with the average 30-year fixed-rate mortgage at 6.99%, down from 7.05% the previous week, according to Freddie Mac. The 15-year fixed-rate mortgage also dropped to 6.29% from 6.35%. This decline in rates is attributed to a slight easing of inflation and a more stable economic outlook, which has led to increased buyer activity in the housing market. Despite the drop, rates remain higher than historical averages, impacting affordability for many potential homebuyers. Experts suggest that while rates may fluctuate, the overall trend could see a gradual decrease throughout the year if economic conditions continue to stabilize.

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[ https://fortune.com/article/current-mortgage-rates-05-29-2025/ ]