Mortgage interest rates slipped lower over the past week, settling at the lowest level of 2025, but remaining elevated enough to stifle normal levels of buying and selling in the housing market. In the week ending Feb.

According to the latest data from Freddie Mac’s Primary Mortgage Market Survey, the average 15-year fixed mortgage rate is currently around 6.00%. That’s nearly a full percentage point lower than the average 30-year fixed mortgage rate, which is sitting in the upper 6.00% range.

Mortgage rates fell slightly again this week but long-term rates remain in the upper-6% range as the housing market continues to drag, waiting for greater declines.

Rates on 15-year new purchase loans fell even more significantly last week, plunging 16 basis points to average 5.98% Friday. Like 30-year loans, 15-year rates sank to a two-year low in September, dropping as far as 4.97% (though the lowest Friday weekly average was 5.07%).

The average rate on a 30-year mortgage in the U.S. eased for the third week in a row, a smidgen of relief for prospective home shoppers getting into the market before the busy spring homebuying

The Bank of England is expected to lower interest rates for the first time in months, as it seeks to counteract the UK’s sluggish economic growth. Economists anticipate a 0.25 percentage point reduction,