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Mortgage Rates Continue to Decline

Published August 8, 2025

Mortgage Rates Continue to Decline

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, August 7. The survey showed mortgage rates continuing to decrease from the previous week.

This week, the 30-year fixed mortgage rate averaged 6.63%, down from last week’s average of 6.72%. Last year at this time, the 30-year fixed mortgage rate averaged 6.47%.

The 15-year fixed mortgage rate averaged 5.75% this week, down from last week’s average of 5.85%. During the same week last year, the 15-year fixed mortgage rate averaged 5.63%.

“The 30-year fixed-rate mortgage dropped to its lowest level since April,” said chief economist at Freddie Mac, Sam Khater. “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.”

Based on published national averages, the savings rate was 0.38% as of 7/21. The one-year CD averaged 1.63%.

Editor’s Note: The publicly available financial information is offered as a helpful and informative service to our friends. This article is not an endorsement of any company, product or service.