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Current mortgage rates report for May 23, 2025: Rates climb higher

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See Friday's report on average mortgage rates on different types of home loans so you can pick the best mortgage for your needs as you house shop
On May 23, 2025, mortgage rates have seen a slight decrease, with the average 30-year fixed-rate mortgage at 6.75% and the 15-year fixed-rate at 6.00%. The decline in rates is attributed to recent economic data suggesting a slowdown, prompting investors to seek the safety of bonds, which inversely affects mortgage rates. Despite the drop, rates remain higher than historical averages, impacting affordability for potential homebuyers. Experts suggest that while rates may fluctuate, the overall trend could be downward if economic indicators continue to show weakness. Homebuyers are advised to compare rates from multiple lenders to secure the best possible deal in this environment.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-mortgage-rates-05-23-2025/ ]