Mortgage Rates Continue to Decline

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported a decline in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.58%, down from 6.63% last week. The 15-year FRM decreased to 5.71% from 5.75% the previous week.

According to Chief Economist Sam Khater, mortgage rates have reached their lowest level since October, leading to improved purchase application activity as borrowers capitalize on the lower rates. For context, a year ago, the 30-year and 15-year FRMs averaged 6.49% and 5.66%, respectively.

Positive

• Mortgage rates dropped to lowest level since October
• 30-year FRM decreased to 6.58% from 6.63% week-over-week
• Purchase application activity is improving
• 15-year FRM declined to 5.71% from 5.75% week-over-week

Negative

• Current 30-year FRM rate (6.58%) remains higher than year-ago level (6.49%)
• 15-year FRM rate (5.71%) is above year-ago rate (5.66%)

MCLEAN, Va., Aug. 14, 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 6.58%.

“Mortgage rates fell to their lowest level since October,” said Sam Khater, Freddie Mac’s Chief Economist. “Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates.”

News Facts

• The 30-year FRM averaged 6.58% as of August 14, 2025, down from last week when it averaged 6.63%. A year ago at this time, the 30-year FRM averaged 6.49%.
• The 15-year FRM averaged 5.71%, down from last week when it averaged 5.75%. A year ago at this time, the 15-year FRM averaged 5.66%.

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/ddd75634-bde5-4734-9a6c-7ff2d9adca91

FAQ

What is Freddie Mac's current 30-year mortgage rate as of August 14, 2025?

The 30-year fixed-rate mortgage (FRM) averaged 6.58%, down from 6.63% the previous week.

How does FMCC's current mortgage rate compare to last year?

The current 30-year FRM rate of 6.58% is slightly higher than the year-ago rate of 6.49%, while the 15-year FRM rate of 5.71% is also higher than last year's 5.66%.

What is the current 15-year mortgage rate from Freddie Mac?

The 15-year fixed-rate mortgage averaged 5.71%, decreasing from 5.75% the previous week.

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

Chief Economist Sam Khater noted that mortgage rates fell to their lowest level since October, and purchase application activity is improving as borrowers take advantage of the rate decline.

What types of loans does Freddie Mac's PMMS survey focus on?

The PMMS focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with 20% down payment and excellent credit.