Mortgage Rates Level Off

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage (FRM) remained stable at 6.58%, unchanged from the previous week but higher than the 6.46% rate recorded a year ago. The 15-year FRM slightly decreased to 5.69% from last week's 5.71%, compared to 5.62% a year ago.

According to Chief Economist Sam Khater, summer rates have decreased, with purchase applications surpassing 2024 levels, though some potential homebuyers remain hesitant, waiting for further rate reductions.

Positive

• Purchase applications are outpacing 2024 levels
• 15-year FRM rates decreased slightly to 5.69% from 5.71% last week

Negative

• 30-year FRM rates (6.58%) are higher compared to last year's 6.46%
• Some homebuyers remain hesitant due to current rate levels

MCLEAN, Va., Aug. 21, 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%.

“The 30-year fixed-rate mortgage remained flat this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the summer, rates have come down and purchase applications are outpacing 2024, though a number of homebuyers continue waiting on the sideline for rates to further decrease.”

News Facts

• The 30-year FRM averaged 6.58% as of August 21, 2025, unchanged from last week. A year ago at this time, the 30-year FRM averaged 6.46%.
• The 15-year FRM averaged 5.69%, down slightly from last week when it averaged 5.71%. A year ago at this time, the 15-year FRM averaged 5.62%.

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/a6131666-c5a7-4f22-94d7-3a4590d5bf0c

FAQ

What is Freddie Mac's current 30-year mortgage rate as of August 21, 2025?

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

How does FMCC's current 30-year mortgage rate compare to last year?

The current 30-year FRM rate of 6.58% is higher than the 6.46% rate recorded a year ago.

What is the current 15-year mortgage rate for Freddie Mac (FMCC)?

The 15-year fixed-rate mortgage averaged 5.69%, slightly down from last week's 5.71%.

How is the mortgage market performing according to Freddie Mac's Chief Economist?

According to Sam Khater, summer rates have decreased and purchase applications are outpacing 2024, though some homebuyers are still waiting for further rate decreases.

What type 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.