US Edition
Average Mortgage Rate Slips to 10-Month Low
The 30-year fixed mortgage rate fell to 6.56%, the lowest since October 2024, yet home sales remain sluggish with only 28% of U.S. homes affordable for typical buyers, experts say.
- The 30-year FRM averaged 6.56% as of August 28, 2025, down from 6.58% last week, the lowest rate in 10 months and since Oct. 24, Freddie Mac said Thursday.
- Since mid-July, bond market investors have pushed long-term yields lower as they weighed inflation, jobs data, and tariffs, with yields retreating after Federal Reserve Chair Jerome Powell's Jackson Hole speech signaled possible rate cuts.
- Freddie Mac's chief economist noted the 15-year FRM held at 5.69% last week while Realtor.com shows only 28% of homes are affordable, with the max price at $298,000.
- The rate slide offers relief for prospective homebuyers, but home sales remain sluggish this year after sinking to their lowest level in nearly 30 years, and markets price an increased chance the Federal Reserve may cut next month.
- Economists generally expect 30-year rates to stay in the mid-6% range this year, while national buying power has fallen nearly $30,000 since 2019 despite median income rising 15.7%.
27 Articles
27 Articles
According to a report by Realtor.com less than 30% of housing currently on the market is affordable for households with average incomes
The 30-year mortgage rate in the U.S. falls to its lowest level in 10 months, although it remains close to recent levels.
Mortgage rates fall to 10-month low
Mortgage rates fell to a 10-month low, mortgage buyer Freddie Mac said Thursday.Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage fell to 6.56% from last week's reading of 6.58%.The average rate on a 30-year loan was 6.35% a year ago.ONLY 28% OF US HOMES NOW AFFORDABLE FOR TYPICAL AMERICAN HOUSEHOLD AS BUYING POWER DROPS"Purchase demand continues to rise on the…
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