Average set mortgage rates primarily held in place from yesterday morning while the more volatile 5/1 adjustable rate took a substantial action down.

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

Current mortgage and re-finance rates

> Related: 7 Tips to get the very best refinance rate

30-year fixed rate mortgage

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

The typical 30-year set rate mortgage (FRM) hit 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 borrowers a budget friendly choice but you pay more interest over the life of the loan compared to shorter mortgages.

15-year set rate mortgage

Today, the typical 15-year set mortgage rate went to 5.85%.

The average 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 uses borrowers a briefer term with less accumulated interest, however the monthly payments will be much greater.

5/1 adjustable-rate mortgage

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

Adjustable-rate mortgages (ARMs) normally have lower initial rate of interest compared to fixed loans. Once that initial duration ends, the rates of interest adapts to the present market conditions. In this case, the initial duration is five years and the adjustments are up to once every year. Homeowners with much shorter term lending plans tend to see these as beneficial.

Market information impacting today's mortgage rates

Here's a snapshot of the state of play as this post was published. The information mainly compares to approximately the same time the organization day previously, so much of the motion will typically have taken place 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 particular Treasury bond yields

• Major stock indexes mainly fell today. (Good for mortgage rates.) When financiers purchase shares, they typically offer bonds, pressing those costs down and increasing yields and mortgage rates. The opposite might happen when indexes are lower. But this is an imperfect relationship Oil costs increased to $63.10 from $62.65 a barrel. (Bad for mortgage rates *.) Energy rates play a prominent role in creating inflation and also point to future economic activity Gold prices increased to $3,389 from $3,380 an ounce. (Neutral (but relocating a good instructions) for mortgage rates .) It is usually much better for rates when gold prices increase and even worse when they fall. Because gold tends to increase when financiers worry about the economy. CNN Business Fear & Greed Index reduced to 55 from 64 out of 100. (Good for mortgage rates.) "Greedy" financiers push bond rates down (and rates of interest up) as they leave the bond market and move into stocks, while "fearful" financiers do the opposite. So, lower readings are often better than higher ones
  
  A motion of less than $20 on gold prices or 40 cents on oil prices is a change of 1% or less. So we just count meaningful distinctions as great 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 take place to mortgage rates that day. But that's no longer the case. We still make daily calls. And are usually right. But our record for precision will not achieve its former high levels until things calm down.
  
  So, use markets just as a rough guide. Because they need to be exceptionally strong or weak for us to count on them. But, with that caution, mortgage rates today might push up or hardly budge. However, know that "intraday swings" (when rates change speed or direction throughout the day) are a typical feature today.
  
  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 provide 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 and will go over monetary policy. As always, their words will be dissected for any pointers on the upcoming Fed conference and rate decision in September.
  
  Recent trends
  
  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 information are generally out of date by the time it reveals its weekly figures. Still, they're an excellent way to track patterns.
  
  Expert forecasts for mortgage rates
  
  Looking further ahead, Fannie Mae and the Mortgage Bankers Association (MBA) each has a group of financial 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 listed below are for 30-year, fixed-rate mortgages. Fannie upgraded 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 favorable, though we anticipate the rate of development to moderate. In late 2024, the U.S. labor market started revealing signs of cooling and we expect that to persist in 2025. Modestly greater unemployment and slower job gains will minimize a few of the pressures on inflation."
  
  Naturally, given numerous unknowables, these forecasts may be even more speculative than typical. And their past record for precision - due to the unpredictable nature of rate of interest - hasn't been extremely outstanding.
  
  Mortgage rate methodology
  
  The Mortgage Reports receives rates based on picked requirements from several providing partners each day. We get to an average rate and APR for each loan type to display in our chart. Because we average a selection of rates, it offers you a much better concept of what you may find in the marketplace. Furthermore, we average rates for the exact same loan types. For example, FHA repaired with FHA fixed. Completion outcome is an excellent picture of day-to-day rates and how they alter with time.
  
  Current mortgage rates approach
  
  We get current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans. Those mortgage rates revealed here are based upon sample debtor profiles that vary by loan type. See our complete loan presumptions here.
  
  Today's mortgage rates FAQ
  
  What is a good mortgage rate?
  
  A good mortgage rate is one that aligns with existing market patterns and your monetary scenario. Since August 14, 2025, the typical rate for a 30-year set mortgage is 6.58%, while the 15-year set mortgage averaged 5.71%, according to Freddie Mac.
  
  How is your mortgage rate determined?
  
  Mortgage rates are affected by a number of elements, including the economy, the borrower's credit report, the loan term, and the total housing market conditions. Lenders likewise think about the loan amount, deposit, and whether the loan is a traditional or government-backed loan.
  
  How to get the most affordable possible rate today?
  
  When searching for the most affordable possible mortgage rates, it's vital to cast a large internet. Put in the time to explore offerings from numerous loan providers, including banks, cooperative credit union, and online mortgage companies. By collecting numerous quotes, you'll be much better equipped to identify the most competitive rate and terms that line up with your financial objectives.
  
  Is fixed or an adjustable-rate mortgage much better?
  
  Choosing in between the two frequently comes down to your financial goals and risk tolerance. If you prioritize predictability and strategy to remain in your home long-lasting, a fixed-rate mortgage might be a strong option. However, if you're comfortable with some level of threat and prepare for selling or refinancing before potential rate modifications kick in, an adjustable-rate mortgage could offer preliminary 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 decline may be sluggish, and short-term rate increases are possible. If you're closing soon, securing your rate may provide stability, but trust your instincts and run the risk of tolerance when choosing whether to float or lock.