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Mortgage Rates at 10-Month Low

“Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist.

By Phil HallAugust 14, 2025

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The 30-year fixed-rate averaged 6.58% as of Aug. 14, 2025, according to the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is down from last week when it averaged 6.63%; it also marked the lowest level recorded year-to-date. A year ago at this time, it averaged 6.49%.

The 15-year fixed-rate mortgage averaged 5.71%, down from last week when it averaged 5.75%. A year ago at this time, it averaged 5.66%.

“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.”