US 30-Year Mortgage Rate Falls to 6.65%

US 30-year fixed mortgage rates declined to 6.65% as of August 20, 2026, down from 6.67% the previous week. Freddie Mac Chief Economist Sam Khater said the decline provided modest relief for homebuyers, while noting that borrowers can potentially save thousands by shopping around for the best mortgage rate. A year earlier, the 30-year fixed-rate mortgage averaged 6.58%. Meanwhile, the 15-year fixed-rate mortgage averaged 5.95%, down from 5.96% the previous week.

US 30-year fixed mortgage rates edged down to 6.67% as of August 13, 2026, from 6.69% the previous week, ending a streak of five consecutive weekly increases. Freddie Mac Chief Economist Sam Khater said mortgage rates remained relatively stable, while improved housing affordability and recent increases in purchase and refinance applications suggest borrowers continue to respond to modest rate changes. A year earlier, the 30-year fixed-rate mortgage averaged 6.58%. Meanwhile, the 15-year fixed mortgage rate fell to 5.96% from 6.01% a week earlier.

The average rate on a 30-year fixed mortgage in the US rose to 6.69% as of August 8, 2026, from 6.66% a week earlier, marking a fifth consecutive weekly increase and the highest level since late July 2025. Mortgage rates continued to climb as the war with Iran and the Federal Reserve's decision to keep interest rates unchanged fueled inflation concerns. The rise in borrowing costs has further strained affordability, keeping many prospective homebuyers on the sidelines. As a result, applications for new mortgages declined in the final two weeks of July, according to the Mortgage Bankers Association. Still, “While mortgage rates continue to influence affordability, the housing market is showing signs of adjustment, with listing prices modestly below year-ago levels and for-sale inventory improving from the limited supply seen in recent years.”, said Sam Khater, Freddie Mac's Chief Economist.