Weekly Mortgage Market Update – Week of May 12, 2025

📉 Rate Recap

Mortgage rates experienced a slight uptick this week. According to Bankrate, the average 30-year fixed mortgage rate increased by 0.07% to 6.85%, while the 15-year fixed rate rose by 0.10% to 6.05% . Despite these increases, rates remain below the 7% threshold, offering opportunities for prospective buyers and those considering refinancing.Barron's+1Investopedia+1BankrateWSJ+2Freddie Mac+2Investopedia+2

📊 Economic Highlights

• Federal Reserve Policy: The Federal Reserve maintained its benchmark rate during its latest meeting on May 7, signaling ongoing concerns about inflation and economic stability.
• Housing Market Trends: Builder sentiment has declined to an 18-month low, with many companies reducing home prices to attract buyers amid high mortgage rates and construction costs .
• Market Outlook: While mortgage rates are expected to remain elevated in the near term, some experts suggest that a potential economic downturn could lead to rate reductions later in the year .BankrateMarketWatchBusiness Insider

💡 Pro Tip:

If you're in the market for a new home or considering refinancing, it's crucial to stay informed about rate trends and economic indicators. Working with a knowledgeable mortgage broker can help you navigate these fluctuations and secure the best possible terms.

🙋 Need Personalized Guidance?

At Mortgage Outfitters LLC, we're committed to helping you understand your options and make informed decisions. Whether you're a first-time homebuyer or looking to refinance, we're here to assist you every step of the way.

📞 Call or text Wendy at 706-994-2632

📍 Serving Georgia 

Equal Housing Opportunity | Mortgage Outfitters LLC | NMLS #2669832