Mortgage Rates Dip to 6.67%—But Stay Above 2025

Freddie Mac’s latest survey puts the average 30-year fixed mortgage rate at 6.67%, down two basis points weekly. The figure covers selected conventional purchase applications and is not a quote available to every borrower.

Key Facts

• The 30-year average fell to 6.67% from 6.69%, but remained above last year’s 6.58%.
• The 15-year average fell to 5.96% from 6.01%, but remained above last year’s 5.71%.
• Freddie Mac does not report average points or fees, which can change a loan’s total cost.

What Happened

The August 13 Freddie Mac data put the 30-year fixed mortgage average at 6.67%. That was two basis points below the August 6 average of 6.69%.

The decrease ended five consecutive weekly increases. The average had climbed from 6.43% on July 2 to 6.69% on August 6.

The new 30-year average was still nine basis points above the comparable 2025 reading. Freddie Mac reported a 6.58% average on August 14, 2025.

The 15-year fixed average also declined. It fell five basis points to 5.96%, from 6.01% one week earlier.

Freddie Mac calculates PMMS using qualifying applications submitted through its Loan Product Advisor system. Its published methodology uses conventional, conforming, fully amortizing purchase loans.

The profile covers owner-occupied, one-unit homes with 20% down and FICO scores of 740 or higher. Freddie Mac says the selected data exclude Alaska, Hawaii, and U.S. territories.

Freddie Mac no longer reports average discount points or origination fees in PMMS. Those costs still affect a borrower’s actual price.

What Changes & What Does Not

What changed

• The 30-year average decreased by 0.02 percentage points from the previous week.
• The 15-year average decreased by 0.05 percentage points during the same period.
• The latest move interrupted a five-week rise in the 30-year average.

What did not change

• Both reported averages remained above their comparable readings from one year earlier.
• The survey average did not change any existing fixed-rate mortgage contract.
• The 6.67% figure is not a rate automatically available to every applicant.
• The reported average does not cover FHA, VA, USDA, jumbo, or adjustable-rate loans.

Who May Be Affected

The report is most relevant to buyers seeking conventional, conforming fixed-rate purchase loans. Borrowers with different profiles may receive substantially different quotes.

Credit history, down payment, property type, loan size, points, and lender pricing can affect an offer. Local taxes, insurance, and association dues also affect affordability.

Existing fixed-rate borrowers will not see payments change because the weekly average moved. Refinancing households need quotes based on their own loan and equity.

The survey cannot determine whether buying or refinancing is affordable for any specific household.

Consumer-Safe Next Steps

• Request Loan Estimates from multiple lenders for the same loan type and amount.
• Compare the interest rate, principal and interest, mortgage insurance, lender charges, credits, and cash to close.
• Review the five-year borrowing cost shown on page three of each Loan Estimate.
• Ask whether points reduce the rate and how long recovering that upfront cost could take.
• Confirm whether the quoted rate is locked before relying on it.
• Ask about the lock period, extension fees, expiration date, and application changes that could alter the rate.
• Include property taxes, homeowners insurance, mortgage insurance, and association dues in your housing budget.
• Avoid opening new credit accounts or missing payments before closing.

The CFPB explains that a rate lock usually protects the rate only for a specified period. Changes to the application can still affect the locked rate.

A two-basis-point national move should not decide a purchase by itself. Compare complete written offers and consider the full household budget.

Unresolved Questions

• Will the 30-year average continue falling in Freddie Mac’s next weekly release?
• How closely will individual lender quotes track the national average?
• Did average points, fees, or other loan costs change during the week?
• How did the small rate movement affect purchase and refinance demand?

The current PMMS release cannot answer those questions. Later rate, application, and lender-pricing data will be needed.