Average set mortgage rates mostly kept in place from the other day morning while the more unpredictable 5/1 adjustable rate took a substantial action down.

Today's market data, led by another day of decreasing Treasury yields, must put downward pressure on rates of interest in the near-term.

Current mortgage and refinance rates

> Related: 7 Tips to get the best re-finance rate

30-year fixed rate mortgage

At the time this was released, the average 30-year set mortgage rate reached 6.62%.

The typical 30-year set rate mortgage (FRM) struck a record weekly low of 2.65% on Jan. 7, 2021, and a record weekly high of 8.89% on Dec. 16, 1994, according to Freddie Mac.

A 30-year FRM gives debtors a budget-friendly choice but you pay more interest over the life of the loan compared to much shorter mortgages.

15-year set rate mortgage

Today, the average 15-year fixed mortgage rate went to 5.85%.

The typical 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac.

The 15-year FRM offers borrowers a briefer term with less accrued interest, but the regular monthly payments will be much greater.

5/1 adjustable-rate mortgage

Today's 5/1 adjustable rate mortgage averaged 5.76%.

Adjustable-rate mortgages (ARMs) usually have lower preliminary rate of interest compared to fixed loans. Once that preliminary duration ends, the rates of interest changes to the current market conditions. In this case, the preliminary period is 5 years and the changes depend on as soon as every year. Homeowners with shorter term loaning plans tend to see these as helpful.

Market data affecting today's mortgage rates

Here's a photo of the state of play as this article was released. The information primarily compares to approximately the exact same time the company day before, so much of the movement will frequently have actually happened in the previous session. The numbers are:

- The yield on 10-year Treasury notes decreased to 4.302% from 4.313%. (Good for mortgage rates.) More than any other market, mortgage rates usually tend to follow these specific Treasury bond yields

• Major stock indexes primarily fell today. (Helpful for mortgage rates.) When financiers buy shares, they typically sell bonds, pressing those prices down and increasing yields and mortgage rates. The reverse might take place when indexes are lower. But this is an imperfect relationship Oil prices increased to $63.10 from $62.65 a barrel. (Bad for mortgage rates *.) Energy prices play a prominent role in producing inflation and likewise indicate future economic activity Gold rates increased to $3,389 from $3,380 an ounce. (Neutral (however moving in an excellent direction) for mortgage rates .) It is generally much better for rates when gold costs rise and even worse when they fall. Because gold tends to increase when investors stress over the economy. CNN Business Fear & Greed Index reduced to 55 from 64 out of 100. (Good for mortgage rates.) "Greedy" investors push bond prices down (and rate of interest up) as they leave the bond market and move into stocks, while "afraid" investors do the opposite. So, lower readings are often much better than higher ones
  
  A motion of less than $20 on gold costs or 40 cents on oil rates is a modification of 1% or less. So we only count significant differences as good or bad for mortgage rates.
  
  Caveats about markets and rates
  
  Before the pandemic, post-pandemic turmoils, and war in Ukraine, you could take a look at the above figures and make a pretty excellent guess about what would take place to mortgage rates that day. But that's no longer the case. We still make daily calls. And are generally best. But our record for precision will not attain its former high levels until things calm down.
  
  So, use markets only as a rough guide. Because they need to be incredibly strong or weak for us to depend on them. But, with that caution, mortgage rates today might nudge upward or hardly budge. However, be conscious that "intraday swings" (when rates change speed or instructions throughout the day) are a typical function today.
  
  What's driving mortgage rates today?
  
  Today
  
  While no financial reports come out today, 2 Federal Reserve executive speak.
  
  At 11am ET, Fed Governor Christopher Waller will give a speech about payment innovation at the 2025 Wyoming Blockchain Symposium and can be watched here. At 2pm, Atlanta President Raphael Bostic goes on at the Fintech South 2025 conference and will discuss monetary policy. As constantly, their words will be dissected for any suggestions on the upcoming Fed meeting and rate choice in September.
  
  Recent patterns
  
  Freddie Mac's August 14 report put the weekly 30-year set mortgage rate average at 6.58%, down 5 basis points from the previous week. But note that Freddie's data are usually out of date by the time it announces its weekly figures. Still, they're a great way to track trends.
  
  Expert forecasts for mortgage rates
  
  Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of economic experts dedicated to keeping an eye on and forecasting what will happen to the economy, the housing sector and mortgage rates.
  
  Here are their quarterly rate forecasts for the 2025.
  
  The numbers in the table below are for 30-year, fixed-rate mortgages. Fannie updated its projection on July 11 and the MBA upgraded theirs on July 17.
  
  In its Mortgage Market Outlook published Jan. 24, Freddie Mac composed, "our outlook for the U.S. economy in 2025 is positive, though we expect the pace of development to moderate. In late 2024, the U.S. labor market began showing signs of cooling and we anticipate that to continue 2025. Modestly greater unemployment and slower task gains will lower a few of the pressures on inflation."
  
  Naturally, offered many unknowables, these projections may be even more speculative than usual. And their past record for accuracy - due to the unpredictable nature of interest rates - hasn't been hugely outstanding.
  
  Mortgage rate approach
  
  The Mortgage Reports gets rates based upon picked requirements from several providing partners each day. We get to an average rate and APR for each loan type to show in our chart. Because we average a variety of rates, it offers you a much better idea of what you may find in the market. Furthermore, we average rates for the exact same loan types. For instance, FHA repaired with FHA repaired. Completion outcome is a good photo of day-to-day rates and how they alter over time.
  
  Current mortgage rates method
  
  We receive existing mortgage rates every day from a network of mortgage loan providers that use home purchase and re-finance loans. Those mortgage rates revealed here are based on sample borrower profiles that differ by loan type. See our full loan presumptions here.
  
  Today's mortgage rates FAQ
  
  What is a great mortgage rate?
  
  An excellent mortgage rate is one that lines up with present market trends and your monetary circumstance. As of August 14, 2025, the typical rate for a 30-year fixed mortgage is 6.58%, while the 15-year fixed mortgage averaged 5.71%, according to Freddie Mac.
  
  How is your mortgage rate figured out?
  
  Mortgage rates are affected by several elements, including the economy, the debtor's credit score, the loan term, and the total housing market conditions. Lenders also think about the loan quantity, deposit, and whether the loan is a standard or government-backed loan.
  
  How to get the most affordable possible rate today?
  
  When looking for the least expensive possible mortgage rates, it's important to cast a wide net. Put in the time to explore offerings from numerous lenders, consisting of banks, credit unions, and online mortgage providers. By gathering numerous quotes, you'll be much better equipped to recognize the most and terms that align with your financial goals.
  
  Is fixed or an adjustable-rate mortgage better?
  
  Choosing between the two often comes down to your monetary objectives and risk tolerance. If you focus on predictability and strategy to remain in your home long-lasting, a fixed-rate mortgage might be a solid option. However, if you're comfy with some level of danger and expect selling or refinancing before prospective rate adjustments begin, an adjustable-rate mortgage might provide preliminary lower rates that may fit your needs.
  
  Should you lock in your mortgage rate today?
  
  Many forecasts anticipate mortgage rates will reduce slowly through 2025. However, this decrease might be slow, and short-term rate boosts are possible. If you're closing quickly, locking in your rate may use stability, but trust your impulses and run the risk of tolerance when deciding whether to float or lock.