Freddie Mac Reports Stable Mortgage Rates Amid Tariff Uncertainties

As of April 3, 2025, the average rate for a 30-year fixed-rate mortgage in the United States is reported to be 6.64%, according to the latest Primary Mortgage Market Survey released by Freddie Mac.

Sam Khater, Chief Economist at Freddie Mac, noted, ‘Over the past month, the 30-year fixed-rate has remained relatively stable, with only minor fluctuations. This consistency is encouraging, and we’re seeing a corresponding increase in purchase application activity — the fastest growth rate since late last year.’

Freddie Mac Mortgage Highlights:

• The 30-year fixed-rate mortgage averaged 6.64% as of April 3, 2025, a slight decrease from 6.65% the previous week. One year ago, the rate was 6.82%.
• The 15-year fixed-rate mortgage averaged 5.82%, down from 5.89% last week. At this time last year, it was 6.06%.

Impact of Tariffs on Mortgage Rates

The decline in mortgage rates coincides with President Donald Trump’s announcement of a 10% tariff on imports which has caused unease in the markets. When tariffs are instituted, they can disrupt supply chains, increase costs, and create concerns about potential economic slowdowns. These factors often lead investors to seek safer investments, such as U.S. Treasury bonds.

This shift has contributed to a decrease in the yield on the 10-year Treasury note, which is closely aligned with mortgage rates, thus helping to lower borrowing costs. However, experts warn that while lower mortgage rates may be beneficial in the short term, rising tariffs could spur inflation, which might counteract the advantages of decreased rates.

Real Estate professionals and potential homebuyers remain cautiously optimistic about the mortgage landscape in light of tariff implications. The complexities of these economic changes are expected to persist as the market reacts and adjusts.

For in-depth insights and evolving trends in the mortgage market, keep an eye on the Freddie Mac Primary Mortgage Market Survey updates.