Mortgage rates today continue to show a mixture of stability and slight fluctuations as the housing market navigates persistent inflation and evolving economic signals. As of August 13, 2025, the average 30-year fixed mortgage rate is approximately 6.5% to 6.7%, with some sources reporting a slight recent drop to near 6.63%, the lowest rate in several months. Meanwhile, 15-year fixed mortgage rates have seen declines, dipping below 6%, easing to about 5.6% in some reports. These modest movements reflect ongoing adjustments after a period of elevated rates earlier in the year.
The mortgage market is reacting closely to inflation trends and Federal Reserve policy. Latest consumer inflation reports indicate inflation remains above the Fed’s 2% target, sustaining pressure that has kept mortgage rates from falling sharply. However, weaker-than-expected employment data and signs of a slowing economy have sparked speculation that the Fed might cut benchmark interest rates later this year, potentially putting downward pressure on longer-term mortgage rates.
Here’s a quick snapshot of today’s mortgage rates for various loan types, reflecting rates for borrowers with strong credit profiles and market averages:
- 30-Year Fixed: Around 6.5% to 6.7% APR
- 15-Year Fixed: Approximately 5.6% to 5.9% APR
- 20-Year Fixed: Near 6.1% to 6.4% APR
- 30-Year FHA: About 6.0% APR
- 30-Year VA: Around 6.1% APR
- 5/1 Adjustable-Rate Mortgage (ARM): Close to 6.0% to 6.1% APR
Many lenders report slight daily fluctuations, so rates can vary by lender and location. For example, some 30-year fixed-rate refinance loans have seen rates around 6.6% to 6.7%, down a few basis points from last week, prompting an increase in refinancing activity as homeowners take advantage of these somewhat lower costs.
The housing market itself is showing signs of cooling as well. National home sales have declined year-over-year, and inventory levels are rising, meaning more homes are staying on the market longer. Nearly 56% of homes sold recently closed below asking price, with median sale prices falling by tens of thousands. This shift towards a buyer’s market could offer more opportunities for those shopping for a home, even as mortgage rates remain elevated compared to historic lows seen a few years ago.
Factors influencing mortgage rates today include:
- Persistent inflation keeping pressure on interest rates
- Federal Reserve decisions to hold rates steady so far in 2025, with possible cuts later this year
- Movements in the 10-year Treasury yield, a key benchmark for mortgage rates
- Economic data such as job reports and tariff-related trade uncertainties
- Evolving loan demand as buyers and refinancers adjust to market conditions
For homebuyers or refinancing homeowners evaluating the market, this environment suggests a balancing act. Rates have decreased from their peak but remain higher than the pandemic-era lows. Rates are expected to stay volatile, so shopping around for the best offer is critical. Comparing rates, APRs, and lender terms can result in meaningful savings—sometimes hundreds of dollars per month—depending on loan size and type.
If you’re considering buying or refinancing now, the current mortgage rates today offer a cautiously optimistic window. Falling rates and a more balanced housing market may enhance affordability, but inflation and economic uncertainty remain factors to watch closely.
We invite you to share your experiences or questions about navigating mortgage rates in today’s market. Staying informed can help you make confident decisions about your home financing options.