Mortgage Rates Drop To Lowest Level Since October

(RTTNews) - Mortgage rates, or interest rates on home loans, continues to drop and reached its lowest level since last October, according to mortgage provider Freddie Mac (FMCC.OB).

The 30-year FRM averaged 6.58% as of August 14, 2025, down from last week when it averaged 6.63%. A year ago at this time, the 30-year FRM averaged 6.49%.

The 15-year FRM averaged 5.71%, down from last week when it averaged 5.75%. A year ago at this time, the 15-year FRM averaged 5.66%.

"Mortgage rates fell to their lowest level since October," said Sam Khater, Freddie Mac's Chief Economist. "Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates."