30-Year Mortgage Rate Slips to 6.63% as 15-Year Fixed Climbs to 5.95%
Updated
Updated · Yahoo Finance · Aug 25
30-Year Mortgage Rate Slips to 6.63% as 15-Year Fixed Climbs to 5.95%
3 articles · Updated · Yahoo Finance · Aug 25
Summary
The average 30-year fixed mortgage rate edged down 1 basis point to 6.63% on Aug. 25, while the 15-year fixed rose 7 basis points to 5.95%, Zillow data showed.
The mixed move extended to adjustable loans: the 5/1 ARM fell 12 basis points to 6.62%, and the 7/1 ARM stood at 6.40%.
Refinance rates were also near purchase levels, with the 30-year fixed refinance average at 6.57% and the 15-year refinance rate at 5.97%.
Forecasters still see little relief ahead, with the MBA expecting 30-year rates around 6.60% to 6.70% through 2026 and Fannie Mae projecting 6.70% to 6.80%.