Sun Mar 23 04:40:00 UTC 2025: ## Mortgage Rates Remain Stagnant, Offering Little Relief to Homebuyers
**Washington, D.C.** – Mortgage rates held steady this week, providing no respite for prospective homebuyers as the spring real estate market heats up. The average 30-year fixed-rate mortgage remained at 6.67%, according to Freddie Mac, a slight dip from last week’s 6.65%. Similarly, 15-year mortgages saw minimal change, averaging 5.83%.
While rates have eased from yearly highs around 7%, they’ve plateaued recently amid uncertainty surrounding President Trump’s economic policies. The Federal Reserve’s decision to leave benchmark interest rates unchanged, coupled with increased inflation projections and lowered economic growth forecasts, further contributed to the stagnation. Although the Fed projected additional rate cuts, their impact on mortgage rates remains unclear.
Despite the lack of significant rate drops, home sales saw a 4.2% increase in February, reaching a seasonally adjusted annual rate of 4.26 million, according to the National Association of Realtors. However, mortgage applications for home purchases were largely unchanged, and refinancing applications fell 13% week-over-week.
Industry experts, like J.C. de Ona of Centennial Bank, note a recent uptick in mortgage demand, but believe some potential buyers remain on the sidelines, hoping for rates to fall further into the 5% range. The increased unsold inventory of existing homes (up 5.1% month-over-month) supports this observation. The ongoing uncertainty surrounding economic policy continues to influence consumer behavior in the housing market.
First Piper 