Mortgage Rates Continue to Decrease

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a decline in mortgage rates, with the 30-year fixed-rate mortgage (FRM) dropping to 6.63% from 6.72% last week, marking its lowest level since April. However, this rate remains higher than the 6.47% recorded a year ago.

The 15-year FRM decreased to 5.75% from last week's 5.85%, compared to 5.63% a year ago. According to Chief Economist Sam Khater, this rate reduction enhances homebuyers' purchasing power, with research indicating potential savings through multiple lender quotations.

Positive

• Mortgage rates decreased with 30-year FRM dropping to 6.63% from 6.72%
• 15-year FRM rates declined to 5.75% from 5.85%
• Lower rates increase homebuyers' purchasing power

Negative

• Current 30-year FRM rate (6.63%) remains higher than year-ago rate (6.47%)
• 15-year FRM rate (5.75%) exceeds previous year's rate (5.63%)

MCLEAN, Va., Aug. 07, 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 6.63%.

“The 30-year fixed-rate mortgage dropped to its lowest level since April,” said Sam Khater, Freddie Mac’s Chief Economist. “The decline in rates increases prospective homebuyers’ purchasing power and our research shows that buyers can save thousands by getting quotes from a few different lenders.”

News Facts

• The 30-year FRM averaged 6.63% as of August 7, 2025, down from last week when it averaged 6.72%. A year ago at this time, the 30-year FRM averaged 6.47%.
• The 15-year FRM averaged 5.75%, down from last week when it averaged 5.85%. A year ago at this time, the 15-year FRM averaged 5.63%.
  
  

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/f2b92812-b856-4cc6-94ab-023125d5b4d5

FAQ

What is the current 30-year fixed mortgage rate according to Freddie Mac (FMCC)?

According to Freddie Mac's latest survey, the 30-year fixed-rate mortgage (FRM) averaged 6.63% as of August 7, 2025, down from 6.72% the previous week.

How has the FMCC 15-year mortgage rate changed compared to last week?

The 15-year fixed-rate mortgage decreased to 5.75% from 5.85% the previous week.

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

Current rates are slightly higher than last year - the 30-year FRM is at 6.63% compared to 6.47% a year ago, and the 15-year FRM is at 5.75% compared to 5.63% a year ago.

What did Freddie Mac's Chief Economist say about the latest mortgage rates?

Chief Economist Sam Khater noted that the 30-year rate dropped to its lowest level since April, and emphasized that the decline in rates increases homebuyers' purchasing power, with potential savings available through multiple lender quotes.