Core Insights - Freddie Mac reports that the 30-year fixed-rate mortgage (FRM) averaged 6.56% as of August 28, 2025, a decrease from 6.58% the previous week and an increase from 6.35% a year ago [1][5]. Mortgage Rate Trends - The 30-year FRM has seen a decline in the short term, while the 15-year FRM remained unchanged at 5.69% compared to the previous week, up from 5.51% a year ago [5]. - The current mortgage rates are at a 10-month low, which is expected to boost purchase demand despite ongoing affordability challenges for potential homebuyers [2]. Economic Context - Freddie Mac's Chief Economist, Sam Khater, indicates that lower mortgage rates and solid economic growth are contributing to rising purchase demand [2]. - The PMMS focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit who put 20% down [2].
Mortgage Rates Tick Down
Globenewswireยท2025-08-28 16:01