The average rate on a 30-year fixed mortgage eased to 6.27% as of October 16th, 2025, down from 6.30% in the previous week and marking the second straight weekly decline, according to a survey of lenders by mortgage giant Freddie Mac. “Mortgage rates inched down this week and have held relatively steady over the past several weeks. Importantly, homeowners have noticed these consistently lower rates, driving an uptick in refinance activity. Combined with increased housing inventory and slower house price growth, these rates also are creating a more favorable environment for those looking to buy a home,” said Sam Khater, Freddie Mac’s chief economist.