Annual Average 30 Year Fixed-Rate Mortgage Rates
Just a quick mortgage rate update. We are now 2 weeks into 2025 and 30-year mortgage rates are currently hovering right around 6.93%. In 2024, the average monthly rate for a 30-year fixed-rate mortgage was 6.72%, slightly lower than the 6.81% average mortgage rate we saw in 2023. Locally, in Leelanau County, all-cash sales without a mortgage accounted for approximately 45% of Leelanau County's 331 total home sales in 2024, marking a noticeable decrease from the 50% of all cash purchases recorded in 2023. Contact your preferred mortgage lender for more info on rates!
Monthly data dating back to 1971 can be found here: http://www.freddiemac.com/pmms/