Average fixed mortgage rates mainly held in place from the other day morning while the more unstable 5/1 adjustable rate took a huge action down.
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Today's market information, 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 set rate mortgage

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

The average 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 provides borrowers an inexpensive alternative but you pay more interest over the life of the loan compared to shorter mortgages.

15-year set rate mortgage

Today, the average 15-year set 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 uses debtors a briefer term with less accrued interest, but the month-to-month payments will be much higher.

5/1 adjustable-rate mortgage

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

Adjustable-rate mortgages (ARMs) usually have lower preliminary rates of interest compared to set loans. Once that initial period ends, the rate of interest gets used to the existing market conditions. In this case, the preliminary period is five years and the changes are up to when every year. Homeowners with much shorter term financing strategies tend to see these as beneficial.

Market information affecting today's mortgage rates

Here's a snapshot of the state of play as this article was published. The information mostly compares to approximately the same time the company day before, a lot of the movement will 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. (Good for mortgage rates.) When financiers buy shares, they typically sell bonds, pressing those costs down and increasing yields and mortgage rates. The opposite may occur 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 rates play a popular role in developing inflation and also indicate future economic activity Gold rates increased to $3,389 from $3,380 an ounce. (Neutral (however relocating a great direction) for mortgage rates .) It is typically better for rates when gold prices rise and even worse when they fall. Because gold tends to rise when investors fret about the economy. CNN Business Fear & Greed Index decreased to 55 from 64 out of 100. (Good for mortgage rates.) "Greedy" financiers press bond prices down (and rate of interest up) as they leave the bond market and move into stocks, while "fearful" financiers do the opposite. So, lower readings are typically better than higher ones
  
  A motion of less than $20 on gold costs or 40 cents on oil costs is a change of 1% or less. So we just count significant distinctions as excellent 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 good guess about what would happen to mortgage rates that day. But that's no longer the case. We still make everyday calls. And are generally ideal. But our record for precision won't accomplish its former high levels until things settle.
  
  So, usage markets only as a rough guide. Because they have to be exceptionally strong or weak for us to rely on them. But, with that caution, mortgage rates today might nudge upward or barely budge. However, know that "intraday swings" (when rates alter speed or instructions during the day) are a common function right now.
  
  What's driving mortgage rates today?
  
  This week
  
  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 technology at the 2025 Wyoming Blockchain Symposium and can be seen here. At 2pm, Atlanta President Raphael Bostic goes on at the Fintech South 2025 conference and will talk about financial policy. As constantly, their words will be dissected for any tips on the upcoming Fed conference and rate decision in September.
  
  Recent trends
  
  Freddie Mac's August 14 report put the weekly 30-year fixed mortgage rate average at 6.58%, down 5 basis points from the previous week. But note that Freddie's data are nearly constantly out of date by the time it announces its weekly figures. Still, they're an excellent way to track trends.
  
  Expert projections for mortgage rates
  
  Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a team of financial experts committed to monitoring and anticipating 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 listed below are for 30-year, fixed-rate mortgages. Fannie updated its projection on July 11 and the MBA updated 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 positive, though we expect the pace of growth to moderate. In late 2024, the U.S. labor market started revealing indications of cooling and we anticipate that to continue 2025. Modestly higher unemployment and slower task gains will lower some of the pressures on inflation."
  
  Naturally, given many unknowables, these projections might be a lot more speculative than usual. And their previous record for precision - due to the unpredictable nature of interest rates - hasn't been wildly impressive.
  
  Mortgage rate approach
  
  The Mortgage Reports gets rates based on selected criteria from numerous providing partners every day. We come to a typical rate and APR for each loan type to display in our chart. Because we average an array of rates, it gives you a better concept of what you might find in the marketplace. Furthermore, we average rates for the same loan types. For example, FHA fixed with FHA repaired. The end result is a good photo of day-to-day rates and how they change with time.
  
  Current mortgage rates method
  
  We receive existing mortgage rates every day from a network of mortgage loan providers that provide home purchase and refinance loans. Those mortgage rates revealed here are based on sample debtor profiles that differ by loan type. See our full loan assumptions here.
  
  Today's mortgage rates FAQ
  
  What is a good mortgage rate?
  
  A great mortgage rate is one that aligns with existing market patterns and your financial circumstance. As of August 14, 2025, the average rate for a 30-year set mortgage is 6.58%, while the 15-year set mortgage balanced 5.71%, according to Freddie Mac.
  
  How is your mortgage rate determined?
  
  Mortgage rates are affected by a number of factors, including the economy, the debtor's credit history, the loan term, and the total 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 lowest possible rate today?
  
  When searching for the most affordable possible mortgage rates, it's necessary to cast a wide internet. Put in the time to explore offerings from numerous lending institutions, consisting of banks, cooperative credit union, and online mortgage suppliers. By gathering several quotes, you'll be much better equipped to identify the most competitive rate and terms that align with your financial goals.
  
  Is fixed or an adjustable-rate mortgage much better?
  
  Choosing between the 2 often comes down to your financial objectives and run the risk of tolerance. If you prioritize predictability and strategy to remain in your home long-lasting, a fixed-rate mortgage may be a strong choice. However, if you're comfortable with some level of threat and prepare for selling or refinancing before possible rate changes start, an adjustable-rate mortgage could provide initial lower rates that may suit your needs.
  
  Should you lock in your mortgage rate today?
  
  Many projections predict mortgage rates will decrease gradually through 2025. However, this decrease may be slow, and short-term rate boosts are possible. If you're closing soon, locking in your rate might offer stability, but trust your instincts and run the risk of tolerance when deciding whether to float or lock.