Mortgage Rates Tumble

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a decline in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.50%, down from 6.56% last week. The 15-year FRM decreased to 5.60% from 5.69% last week.

According to Chief Economist Sam Khater, the declining rates are boosting market optimism. Notably, refinancing applications have reached 47% of total mortgage applications, marking the highest level since October. This trend suggests increasing opportunities for both new homebuyers and current homeowners looking to refinance.

Positive

• Mortgage rates decreased with 30-year FRM dropping to 6.50% from 6.56%
• 15-year FRM rates declined to 5.60% from 5.69%
• Refinancing applications reached 47% of total mortgage applications, highest since October

Negative

• Current 30-year FRM rates (6.50%) remain higher than year-ago levels (6.35%)
• 15-year FRM rates (5.60%) are above previous year's rate (5.47%)

MCLEAN, Va., Sept. 04, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.50%.

“Mortgage rates continue to trend down, increasing optimism for new buyers and current owners alike,” said Sam Khater, Freddie Mac’s Chief Economist. “As rates continue to drop, the number of homeowners who have the opportunity to refinance is expanding. In fact, the share of market mortgage applications that were for a refinance reached nearly 47%, the highest since October.”

News Facts

• The 30-year FRM averaged 6.50% as of September 4, 2025, down from last week when it averaged 6.56%. A year ago at this time, the 30-year FRM averaged 6.35%.
• The 15-year FRM averaged 5.60%, down from last week when it averaged 5.69%. A year ago at this time, the 15-year FRM averaged 5.47%.

The PMMS^® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Angela Waugaman
(703)714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1d2fb008-d02f-467d-88c6-68e7296de7dd

FAQ

What are Freddie Mac's current mortgage rates for September 2025?

As of September 4, 2025, the 30-year fixed-rate mortgage averaged 6.50%, while the 15-year fixed-rate mortgage averaged 5.60%.

How have FMCC mortgage rates changed compared to last week?

Freddie Mac's mortgage rates decreased, with the 30-year FRM dropping from 6.56% to 6.50% and the 15-year FRM declining from 5.69% to 5.60%.

What is the current refinancing trend according to Freddie Mac?

Refinancing applications have reached 47% of total mortgage applications, marking the highest level since October, indicating increased refinancing opportunities for homeowners.

How do current Freddie Mac mortgage rates compare to last year?

Current rates are slightly higher year-over-year, with the 30-year FRM at 6.50% compared to 6.35% last year, and the 15-year FRM at 5.60% versus 5.47% a year ago.