Mortgage Rates Decline

Published September 5, 2025

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, September 4. The survey showed another decline in the 30-year mortgage rate, bringing rates to an 11-month low.

This week, the 30-year fixed mortgage rate averaged 6.50%, down from last week’s average of 6.56%. Last year at this time, the 30-year fixed mortgage rate averaged 6.35%.

The 15-year fixed mortgage rate averaged 5.60% this week, down from last week’s average of 5.69%. During the same week last year, the 15-year fixed mortgage rate averaged 5.47%.

“Mortgage rates continue to trend down, increasing optimism for new buyers and current owners alike,” said chief economist at Freddie Mac, Sam Khater. “As rates continue to drop, the number of homeowners who have the opportunity to refinance is expanding. In fact, the share of market mortgage applications that were for a refinance reached nearly 47%, the highest since October.”

Based on published national averages, the savings rate was 0.39% as of 8/18. The one-year CD averaged 1.76%.

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