30 12 months fixed-rate mortgage drive to six.50% for the August 14 week versus 6.63% final week

Freddie Mac is reporting that the 30-year fixed-rate mortgage 6.58% for August 14 week. That compares to six.63% final week.

The speed is the bottom since October 24, 2024.

Trying on the chart, the vary within the mortgage charge has been comparatively slim in 2025. The excessive prolonged to 7.04% in January. The low is that this week at 6.53%.

If the 10-year yield is a proxy for the 30 12 months mortgage, the 10-year yield peaked initially of 2025 at four.809%. The low was in April at three.860%. The present yield at four.30%. It’s close to the center of that vary (the midpoint is at four.335%).

From the excessive the 10-year yield is down round 50 foundation factors. For the 30-year mortgage, it’s down 46 foundation factors. What did not occur in 2025 was that the low in yield in April didn’t see the mortgage charge transfer down at a comparable trajectory.

This text was written by Emma Wang at investinglive.com.