The rate for a 30-year fixed-rate mortgage was 6.95% this week, almost unchanged from last week when it averaged 6.96%, according to Freddie Mac. A year ago, the rate was 6.63%. The rate for a 15-year fixed-rate mortgage was 6.12%, down from last week when it averaged 6.16%. A year ago, the rate was 5.94%.
Fed announces 2025 stress test scenarios
This year, 22 banks will be tested against a severe global recession with heightened stress in both commercial and residential real estate markets, as well as in corporate debt markets.