{"id":2474,"date":"2025-08-25T11:55:20","date_gmt":"2025-08-25T11:55:20","guid":{"rendered":"http:\/\/ft365.org\/index.php\/2025\/08\/25\/mortgage-rates-rise-slightly-still-near-10-month-low-bankrate\/"},"modified":"2025-08-25T11:55:20","modified_gmt":"2025-08-25T11:55:20","slug":"mortgage-rates-rise-slightly-still-near-10-month-low-bankrate","status":"publish","type":"post","link":"http:\/\/ft365.org\/index.php\/2025\/08\/25\/mortgage-rates-rise-slightly-still-near-10-month-low-bankrate\/","title":{"rendered":"Mortgage Rates Rise Slightly, Still Near 10-Month Low | Bankrate"},"content":{"rendered":"
\n
\n

Mortgage rates moved up this week, with the 30-year fixed rate averaging 6.62 percent, compared to 6.61 percent the previous week, according to Bankrate\u2019s latest lender survey. <\/p>\n<\/p><\/div>\n

Current mortgage rates<\/h2>\n
\n\n\n\n\n\n\n\n
Loan type<\/th>\nCurrent<\/th>\n4 weeks ago<\/th>\nOne year ago<\/th>\n52-week average<\/th>\n52-week low<\/th>\n<\/tr>\n<\/thead>\n
30-year<\/td>\n6.62%<\/td>\n6.76%<\/td>\n6.62%<\/td>\n6.79%<\/td>\n6.20%<\/td>\n<\/tr>\n
15-year<\/td>\n5.83%<\/td>\n5.92%<\/td>\n5.86%<\/td>\n6.00%<\/td>\n5.40%<\/td>\n<\/tr>\n
30-year jumbo<\/td>\n6.64%<\/td>\n6.76%<\/td>\n6.74%<\/td>\n6.82%<\/td>\n6.36%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The 30-year fixed mortgages in this week\u2019s survey had an average total of 0.32 discount and origination points. Discount points are a way to lower your mortgage rate, while origination points are fees lenders charge to create, review and process your loan.<\/p>\n

\n

\"couple<\/p>\n

\n

Shop smarter for mortgage rates <\/h3>\n

Bankrate connects you to the latest lender offers, tailored to you. Find your low rate today.<\/p>\n

Explore mortgage rates <\/p>\n<\/div><\/div>\n

Monthly mortgage payment at today\u2019s rates<\/h2>\n

The national median family income for 2025 is $104,200, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in June 2025 was $435,300, according to the National Association of Realtors. Based on a 20 percent down payment and a 6.61 percent mortgage rate, the monthly payment of $2,229 amounts to 26 percent of the typical family\u2019s monthly income.<\/p>\n

\u201cAffordability is still a challenge,\u201d says Lisa Sturtevant, chief economist at Bright MLS, a listing service in the Mid-Atlantic region. \u201cSome buyers are waiting both for rates and prices to come down before they get into the market.\u201d\u00a0\u00a0<\/p>\n

What will happen to mortgage rates in 2025?<\/h2>\n

Mortgage rates haven\u2019t been this low since mid-October 2024. However, some perspective is in order: For the past 10 months, rates have moved in a narrow range. These declines aren\u2019t like the sharp drops seen early in the pandemic, or the big jumps that came in 2022 and 2023, as the Federal Reserve aggressively boosted interest rates.<\/p>\n

At its most recent meeting, the Fed decided to leave the federal funds rate untouched. Mortgage rates didn\u2019t respond to the Fed\u2019s three consecutive cuts last year \u2014 a reminder that fixed mortgage rates are not set directly by the Fed but by investor appetite, particularly for 10-year Treasury bonds. When there\u2019s uncertainty in the market, investors buy Treasury bonds, which in turn drives yields \u2014 and, often, mortgage rates \u2014 downward.<\/p>\n

\u201cThere\u2019s now a bias toward the Fed cutting a little bit. But if we remember back to September, when the Fed cut, mortgage rates actually went up,\u201d says Chad Smith, president of mortgage lender Better. \u201cI don\u2019t see anything on the horizon that would push it down to 6.\u201d<\/p>\n

Meanwhile, the U.S. economy seems to be back on track: The gross domestic product grew by an impressive 3 percent in the second quarter, the U.S. Bureau of Economic Analysis said last Wednesday. However, President Donald Trump\u2019s tariff policies have been blamed for an increase in inflation, which moved up to 2.7 percent in June and stayed at 2.7 percent for July, making little progress toward the Fed\u2019s inflation target of 2 percent. As of Wednesday afternoon, 10-year Treasury yields were below 4.3 percent.<\/p>\n