Mortgage Rates Tick Down
Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage (FRM) averaged 6.56%, declining from 6.58% last week but up from 6.35% a year ago.
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Rhea-AI Summary
Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage (FRM) averaged 6.56%, declining from 6.58% last week but up from 6.35% a year ago. The 15-year FRM remained stable at 5.69%, compared to 5.51% a year ago.
According to Chief Economist Sam Khater, mortgage rates have reached a 10-month low, with increasing purchase demand driven by lower rates and robust economic growth. Despite ongoing affordability challenges, the declining rate environment may encourage more potential homebuyers to enter the market.
Positive
- Mortgage rates decreased to 10-month low
- Purchase demand is increasing
- Solid economic growth reported
- 30-year FRM decreased from previous week
Negative
- 30-year FRM rates still higher than previous year (6.56% vs 6.35%)
- 15-year FRM rates higher than previous year (5.69% vs 5.51%)
- Affordability challenges persist for potential homebuyers
Details
News Market Reaction – FMCC
On Aug 28, the day this news came out, FMCC closed 0.43% above the previous close.
Data tracked by StockTitan Argus for the Aug 28 session.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., Aug. 28, 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
“Mortgage rates are at a 10-month low,” said Sam Khater, Freddie Mac’s Chief Economist. “Purchase demand continues to rise on the back of lower rates and solid economic growth. Though many potential homebuyers still face affordability challenges, consistently lower rates may provide them with the impetus to enter the market.”
News Facts
- The 30-year FRM averaged
6.56% as of August 28, 2025, down from last week when it averaged6.58% . A year ago at this time, the 30-year FRM averaged6.35% . - The 15-year FRM averaged
5.69% , unchanged from last week. A year ago at this time, the 15-year FRM averaged5.51% .
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put
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/74dc8653-078f-43a5-a63e-ca96b767b9ae
FAQ
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