Mortgage rates inched upward again this week, with the 30-year fixed-rate mortgage rising to 6.89% as of Thursday, up from 6.86% the week before, according to Freddie Mac’s weekly rate survey.

The 15-year fixed-rate mortgage averaged 6.03%, up from last week’s average of 6.01%. The good news is that current mortgage rates remain below the rates from one year ago when the 30-year mortgage rate averaged 7.03% and the 15-year rate averaged 6.36%.

In 2025, the average 30-year loan rate reached the year’s high of 7.04% during the week of January 16, before beginning a slow decline to the year’s low of 6.62% during the week of April 10. Since then, rates have been on a jagged upward trajectory to this week’s 6.89% average.

Freddie Mac emphasized that while rates rose over the past week, they remain below the 7% threshold and that it is important for homebuyers to seek the lowest interest rates possible.

“This week, the 30-year fixed-rate mortgage rose slightly higher,” stated Sam Khater, Freddie Mac’s chief economist. “Aspiring buyers should remember to shop around for the best mortgage rate, as they can potentially save thousands of dollars by getting multiple quotes.”