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

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

Current mortgage and refinance rates

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

30-year set rate mortgage

At the time this was published, the typical 30-year fixed mortgage rate reached 6.62%.

The typical 30-year fixed 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 offers borrowers an inexpensive alternative but you pay more interest over the life of the loan compared to shorter mortgages.

15-year fixed rate mortgage

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

The typical 15-year FRM struck 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 customers a briefer term with less accumulated interest, but the month-to-month 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 initial interest rates compared to set loans. Once that preliminary duration ends, the rates of interest adjusts to the existing market conditions. In this case, the preliminary period is 5 years and the modifications are up to as soon as every year. Homeowners with shorter term loaning plans tend to see these as useful.

Market data impacting today's mortgage rates

Here's a picture of the state of play as this post was published. The information mainly compares to roughly the exact same time the business day previously, a lot of the motion 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%. (Helpful for mortgage rates.) More than any other market, mortgage rates typically tend to follow these specific Treasury bond yields

• Major stock indexes primarily fell today. (Helpful for mortgage rates.) When financiers buy shares, they frequently offer bonds, pushing those prices down and increasing yields and mortgage rates. The opposite may occur when indexes are lower. But this is an imperfect relationship Oil rates increased to $63.10 from $62.65 a barrel. (Bad for mortgage rates *.) Energy rates play a popular function in producing inflation and likewise indicate future economic activity Gold costs increased to $3,389 from $3,380 an ounce. (Neutral (but moving in a great instructions) for mortgage rates .) It is generally better for rates when gold costs increase and worse when they fall. Because gold tends to rise when investors worry about the economy. CNN Business Fear & Greed Index reduced to 55 from 64 out of 100. (Helpful for mortgage rates.) "Greedy" financiers push bond costs down (and rates of interest up) as they leave the bond market and move into stocks, while "afraid" financiers do the opposite. So, lower readings are often better than higher ones
  
  A movement of less than $20 on gold rates or 40 cents on oil prices is a change of 1% or less. So we just count meaningful distinctions as good or bad for mortgage rates.
  
  Caveats about markets and rates
  
  Before the pandemic, post-pandemic turmoils, and war in Ukraine, you could look at the above figures and make a pretty great guess about what would take place to mortgage rates that day. But that's no longer the case. We still make everyday calls. And are typically best. But our record for precision will not attain its previous high levels till things settle down.
  
  So, usage markets just as a rough guide. Because they have to be extremely strong or weak for us to depend on them. But, with that caution, mortgage rates today might nudge upward or hardly budge. However, understand that "intraday swings" (when rates alter speed or direction throughout the day) are a common feature today.
  
  What's driving mortgage rates today?
  
  Today
  
  While no economic reports come out today, 2 Federal Reserve executive speak.
  
  At 11am ET, Fed Governor Christopher Waller will offer a speech about payment technology at the 2025 Wyoming Blockchain Symposium and can be enjoyed here. At 2pm, Atlanta President Raphael Bostic goes on at the Fintech South 2025 conference and will go over financial policy. As always, their words will be dissected for any suggestions on the upcoming Fed meeting and rate choice in September.
  
  Recent trends
  
  Freddie Mac's August 14 report put the weekly 30-year fixed mortgage rate average at 6.58%, down five basis points from the previous week. But note that Freddie's information are usually out of date by the time it announces its weekly figures. Still, they're an excellent 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 financial experts dedicated to keeping an eye on and anticipating what will take place to the economy, the housing sector and mortgage rates.
  
  Here are their quarterly rate projections for the 2025.
  
  The numbers in the table listed below are for 30-year, fixed-rate mortgages. Fannie upgraded its forecast on July 11 and the MBA upgraded theirs on July 17.
  
  In its Mortgage Market Outlook released Jan. 24, Freddie Mac composed, "our outlook for the U.S. economy in 2025 is favorable, though we expect the rate of development to moderate. In late 2024, the U.S. labor market started revealing indications of cooling and we anticipate that to persist in 2025. Modestly higher joblessness and slower task gains will minimize a few of the pressures on inflation."
  
  Of course, offered many unknowables, these forecasts may be even more speculative than typical. And their past record for accuracy - due to the unpredictable nature of rates of interest - hasn't been hugely remarkable.
  
  Mortgage rate method
  
  The Mortgage Reports receives rates based on selected requirements from several providing partners every day. We get to an average rate and APR for each loan type to display in our chart. Because we average a range of rates, it provides you a better idea of what you may discover in the market. Furthermore, we balance rates for the very same loan types. For instance, FHA fixed with FHA fixed. Completion outcome is an excellent snapshot of day-to-day rates and how they change over time.
  
  Current mortgage rates approach
  
  We get existing mortgage rates each day from a network of mortgage lenders that offer home purchase and re-finance loans. Those mortgage rates revealed here are based upon sample borrower profiles that vary by loan type. See our full loan presumptions here.
  
  Today's mortgage rates FAQ
  
  What is a good mortgage rate?
  
  A great mortgage rate is one that aligns with present market trends and your monetary scenario. As of August 14, 2025, the average rate for a 30-year fixed mortgage is 6.58%, while the 15-year fixed mortgage balanced 5.71%, according to Freddie Mac.
  
  How is your mortgage rate figured out?
  
  Mortgage rates are influenced by numerous factors, including the economy, the customer's credit history, the loan term, and the overall housing market conditions. Lenders likewise consider the loan amount, down payment, and whether the loan is a conventional or government-backed loan.
  
  How to get the least expensive possible rate today?
  
  When looking for the least expensive possible mortgage rates, it's necessary to cast a wide web. Put in the time to explore offerings from various lenders, consisting of banks, credit unions, and online mortgage providers. By gathering several quotes, you'll be much better equipped to determine the most and terms that align with your financial objectives.
  
  Is fixed or an adjustable-rate mortgage better?
  
  Choosing in between the 2 often boils down to your financial objectives and run the risk of tolerance. If you prioritize predictability and strategy to remain in your home long-term, a fixed-rate mortgage may be a strong option. However, if you're comfy with some level of danger and anticipate selling or refinancing before potential rate changes start, an adjustable-rate mortgage could use preliminary lower rates that may fit your needs.
  
  Should you lock in your mortgage rate today?
  
  Many projections forecast mortgage rates will decrease slowly through 2025. However, this decline may be sluggish, and short-term rate boosts are possible. If you're closing soon, locking in your rate may provide stability, but trust your instincts and risk tolerance when deciding whether to float or lock.