Average fixed mortgage rates primarily kept in place from yesterday morning while the more volatile 5/1 adjustable rate took a big step down.
Today's market information, led by another day of decreasing Treasury yields, must put down pressure on interest rates in the near-term.
Current mortgage and re-finance rates
> Related: 7 Tips to get the very best refinance rate
30-year fixed rate mortgage
At the time this was released, the typical 30-year set mortgage rate reached 6.62%.
The typical 30-year fixed rate mortgage (FRM) hit a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.
A 30-year FRM provides customers a budget friendly alternative however you pay more interest over the life of the loan compared to shorter mortgages.
15-year fixed rate mortgage
Today, the average 15-year set mortgage rate went to 5.85%.
The typical 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.
The 15-year FRM offers customers a briefer term with less accumulated interest, however the monthly payments will be much greater.
5/1 adjustable-rate mortgage
This morning's 5/1 adjustable rate mortgage averaged 5.76%.
Adjustable-rate mortgages (ARMs) generally have lower preliminary rates of interest compared to set loans. Once that initial period ends, the rates of interest adjusts to the existing market conditions. In this case, the initial period is 5 years and the changes are up to once every year. Homeowners with shorter term financing plans tend to see these as beneficial.
Market data impacting today's mortgage rates
Here's a photo of the state of play as this post was released. The information primarily compares to approximately the very same time business day in the past, so much of the motion will often have actually happened in the previous session. The numbers are:
- The yield on 10-year Treasury notes decreased to 4.302% from 4.313%. (Helpful for mortgage rates.) More than any other market, mortgage rates generally tend to follow these particular Treasury bond yields
- Major stock indexes mainly fell today. (Great for mortgage rates.) When investors buy shares, they typically offer bonds, pressing those costs down and increasing yields and mortgage rates. The reverse may happen when indexes are lower. But this is an imperfect relationship
Oil costs increased to $63.10 from $62.65 a barrel. (Bad for mortgage rates *.) Energy costs play a prominent role in producing inflation and also point to future economic activity
Gold rates increased to $3,389 from $3,380 an ounce. (Neutral (but moving in an excellent direction) for mortgage rates .) It is usually better for rates when gold prices rise and worse when they fall. Because gold tends to rise when financiers stress over the economy.
CNN Business Fear & Greed Index reduced to 55 from 64 out of 100. (Great for mortgage rates.) "Greedy" financiers push bond costs down (and rate of interest up) as they leave the bond market and move into stocks, while "fearful" financiers do the opposite. So, lower readings are frequently much better than higher ones
A motion of less than $20 on gold rates or 40 cents on oil rates is a change of 1% or less. So we only count significant distinctions as great or bad for mortgage rates.
Caveats about markets and rates
Before the pandemic, post-pandemic upheavals, and war in Ukraine, you could take a look at the above figures and make a respectable guess about what would happen to mortgage rates that day. But that's no longer the case. We still make day-to-day calls. And are generally right. But our record for precision won't accomplish its previous high levels up until things settle.
So, usage markets only as a rough guide. Because they have to be incredibly strong or weak for us to count on them. But, with that caution, mortgage rates today may push up or hardly budge. However, understand that "intraday swings" (when rates alter speed or instructions throughout the day) are a common feature right now.
What's driving mortgage rates today?
Today
While no economic reports come out today, two Federal Reserve executive speak.
At 11am ET, Fed Governor Christopher Waller will give a speech about payment technology at the 2025 Wyoming Blockchain Symposium and can be enjoyed here. At 2pm, Atlanta President Raphael Bostic goes on at the Fintech South 2025 conference and will talk about financial policy. As always, their words will be dissected for any suggestions on the upcoming Fed meeting and rate decision in September.
Recent trends
Freddie Mac's August 14 report put the weekly 30-year set mortgage rate average at 6.58%, down 5 basis points from the previous week. But note that Freddie's data are usually out of date by the time it announces its weekly figures. Still, they're an excellent way to track trends.
Expert forecasts for mortgage rates
Looking even more ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economists dedicated to monitoring and anticipating what will occur to the economy, the housing sector and mortgage rates.
Here are their quarterly rate projections for the 2025.
The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie upgraded its forecast on July 11 and the MBA updated theirs on July 17.
In its Mortgage Market Outlook published Jan. 24, Freddie Mac wrote, "our outlook for the U.S. economy in 2025 is positive, though we anticipate the pace of growth to moderate. In late 2024, the U.S. labor market started revealing indications of cooling and we expect that to continue 2025. Modestly greater unemployment and slower task gains will decrease a few of the pressures on inflation."
Obviously, provided many unknowables, these may be a lot more speculative than typical. And their past record for accuracy - due to the volatile nature of rates of interest - hasn't been extremely remarkable.
Mortgage rate method
The Mortgage Reports gets rates based upon chosen criteria from numerous providing partners each day. We show up at an average rate and APR for each loan type to show in our chart. Because we average a variety of rates, it gives you a better idea of what you may find in the marketplace. Furthermore, we balance rates for the same loan types. For example, FHA repaired with FHA fixed. Completion outcome is an excellent picture of everyday rates and how they alter over time.
Current mortgage rates method
We get existing mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates shown here are based on sample borrower profiles that vary by loan type. See our complete loan assumptions here.
Today's mortgage rates FAQ
What is a good mortgage rate?
A good mortgage rate is one that lines up with existing market patterns and your monetary scenario. As of August 14, 2025, the typical rate for a 30-year fixed mortgage is 6.58%, while the 15-year set mortgage averaged 5.71%, according to Freddie Mac.
How is your mortgage rate determined?
Mortgage rates are affected by several aspects, consisting of the economy, the customer's credit history, the loan term, and the total housing market conditions. Lenders also consider the loan quantity, deposit, and whether the loan is a standard or government-backed loan.
How to get the least expensive possible rate today?
When looking for the most affordable possible mortgage rates, it's vital to cast a wide web. Take the time to check out offerings from various lenders, including banks, credit unions, and online mortgage providers. By collecting several quotes, you'll be better equipped to determine the most competitive rate and terms that align with your monetary goals.
Is repaired or an adjustable-rate mortgage much better?
Choosing between the two often comes down to your monetary goals and run the risk of tolerance. If you focus on predictability and plan to stay in your home long-lasting, a fixed-rate mortgage might be a solid option. However, if you're comfortable with some level of threat and expect selling or refinancing before potential rate modifications begin, an adjustable-rate mortgage might offer initial lower rates that may match your requirements.
Should you lock in your mortgage rate today?
Many projections predict mortgage rates will decrease gradually through 2025. However, this decrease might be sluggish, and short-term rate increases are possible. If you're closing soon, securing your rate might offer stability, but trust your impulses and run the risk of tolerance when deciding whether to drift or lock.