Mortgage interest rates declined by around a full percentage point in 2025.  At 7.04% in January 2025, according to historical  FreddieMac data, the average rate on a 30-year term fell to 6.06% by January 15, 2026. And that was an average, meaning that qualified borrowers were able to find a rate comfortably under 6% . By March 2 , for example, the average rate on a 30-year term was just 5.75%. A combination of factors this spring, however, has caused rates to increase substantially . There's