Mortgage Rates Drop To Lowest Level Since April

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

The 30-year FRM averaged 6.63% as of August 7, 2025, down from last week when it averaged 6.72%. A year ago at this time, the 30-year FRM averaged 6.47%.

The 15-year FRM averaged 5.75%, down from last week when it averaged 5.85%. A year ago at this time, the 15-year FRM averaged 5.63%.

"The 30-year fixed-rate mortgage dropped to its lowest level since April," said Sam Khater, Freddie Mac's Chief Economist. "The decline in rates increases prospective homebuyers' purchasing power and our research shows that buyers can save thousands by getting quotes from a few different lenders."