Learn more Mortgage rates are slightly down this week, with the average 30-year fixed-rate loan at 6.76%, according to Freddie Mac data on May 1. “Mortgage rates again declined this week,” said Freddie Mac Chief Economist Sam Khater in a statement.

Every Thursday, Freddie Mac, a government-sponsored buyer of mortgage loans, publishes a weekly average of 30-year mortgage rates. This week's reading dipped 5 basis points to 6.76%. Last September, the average sank as far as 6.08%. But back in October 2023, Freddie Mac's average saw a historic rise, surging to a 23-year peak of 7.79%.

The average rate on a 30-year mortgage in the U.S. eased again this week, modest relief for prospective home shoppers during what’s traditionally the busiest time of the year for the housing market.