Analysts believe a modest drop in mortgage rates could prove to be a "magic bullet" for the U.S. housing market.

Home sales could fall to a three-decade low in 2025 as elevated mortgage rates continue to crimp affordability, Realtor.com economists say.

On the bright side, however, rates have stayed within a tight range between 6.7% and 6.9% for much of the past six months. Most industry experts expect this trend to continue through the end of the year, with Realtor.com and Zillow forecasting rates to reach 6.4% and “near the mid-6% range,” by the end of 2025, respectively.

Historic mortgage rate trends. During the last three years, mortgage rates have been on the rise. In early 2022, the average 30-year fixed rate was 4.72% and the 15-year fixed rate was 3.91%.

The average rate on 30-year fixed home loans increased to 6.75% for the week ending July 17, up from 6.72% last week.

Mortgage rate trends Mortgage rates have been trending lower for the past five weeks and are currently at their lowest level since early April, when the 30-year rate average 6.62%.That downward ...

Historic mortgage rate trends. During the last three years, mortgage rates have been on the rise. In early 2022, the average 30-year fixed rate was 4.72% and the 15-year fixed rate was 3.91%.

Average mortgage rates are trending lower for the first time in more than two weeks as of Friday, May 30, 2025, a day after new reporting from the National Association of Realtors showed pending ...

Freddie Mac’s mortgage rates for the week ending June 26, 2025. Freddie Mac mortgage rate trends. For its weekly rate analysis, Freddie Mac looks at rates offered for the week, ending each Thursday.