Mortgage application activity eased last week, but not in a statistically significant way.  One might be inclined to note a very slight uptick in mortgage rates, but it's just as fair to say that rates held steady near longer-term lows.  The Mortgage Bankers Association’s weekly survey showed a 1.4% decline in the seasonally adjusted Composite Index for the week ending August 15, 2025. “Mortgage rates increased slightly last week, with the 30-year fixed rate now at 6.68 percent,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. VA applications fell 16%, while FHA refinance applications increased as FHA rates remained comparatively competitive. The Refinance Index decreased 3% week-over-week but remains about 23% higher than the same week a year ago. The Purchase Index was essentially flat (+0.1% seasonally adjusted) and is running about 23% ahead of last year’s level. The refinance share of total mortgage applications slipped to 46.1%. ARM share decreased to 8.6%. FHA share rose to 19.1%, while VA share declined to 13.4%. Mortgage Rate Summary: 30yr Fixed: 6.68% (from 6.67%) | Points: 0.60 (down from 0.64) 15yr Fixed: 5.96% (from 5.93%) | Points: 0.70 (up from 0.63) Jumbo 30yr: 6.64% (from 6.70%) | Points: 0.60 (up from 0.56) FHA: 6.39% (from 6.40%) | Points: 0.66 (down from 0.77) 5/1 ARM: 6.01% (from 5.80%) | Points: 0.63 (down from 0.67)

August 20, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Aug 20, 2025 Mortgage Rates Barely Budge Wed, Aug 20, 2025 2:57PM For the 11th straight business day, mortgage rates are very close to the levels from the end of the previous day.  Over the past week, however, most of these small day-to-day movements have been microscopically higher.  Today's is no exception. The net effect is that the average top tier 30yr fixed rate is up from 6.53% last Wednesday to 6.61% today.  Even that is a fairly minor move in the bigger picture, but it would certainly make for a weaker rate quote if Wednesdays happened to be your mortgage rate shopping days.   To put the overall change in specific, relatab... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 Almost No Reaction to Fed Minutes Wed, Aug 20, 2025 3:19PM Almost No Reaction to Fed Minutes As expected, today's Fed Minutes (a more detailed account of the meeting that took place 3 weeks ago) had very little impact on the bond market. Markets honed in on one newswire in particular which noted the Fed saw inflation risks outweighing employment risks. This, of course, is be... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 12:31PM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 12:31PM EST Other News Mortgage Applications Inconsequentially Lower vs Last Week Wed, Aug 20, 2025 12:39PM Mortgage application activity eased last week, but not in a statistically significant way.  One might be inclined to note a very slight uptick in mortgage rates, but it's just as fair to say that rates held steady near longer-term lows.  The Mortgage Bankers Association’s weekly survey showed a 1.4% decline in the seasonally adjusted Composite Inde... (read more) Broker Services, HELOC, Best Practices, Debt Tools; Voice of the Industry; MBA Applications Wed, Aug 20, 2025 11:35AM “I asked a German girl if Germans are afraid of numbers. She said 9!” Numbers make up the bond market, and a steeper yield curve (the difference between short-term rates and long-term rates… steeper = more of a difference) tends to help banks and credit unions since they are paying less on deposits and can lend the money out at a higher spread. Brokers and i... (read more) Latest Video TD Cowen's Jeffrey Solomon: We think Fed's next move is to cut rates but no... CNBC Fed Survey: Respondents believe Kevin Hassett will be next Fed chair Fed Governors Waller, Bowman look to blockchain to update central bank's se... Fed minutes show participants noted risks to inflation and employment Around the Web CNBC Here's what's keeping home buyers on the sidelines even as mortgage rates hit a 10-month low CNBC Divided Fed worried about tariffs, inflation and the labor market, minutes show Eye on Housing Retreat for Single-Family Built-for-Rent Housing Federal Reserve FOMC Minutes Full Text CNBC Weekly mortgage demand stalls again with just miniscule increase in interest rates CNBC The senior living market cant keep up with demand as boomers age Eye on Housing Growth for Custom Home Building CNBC Treasury yields hold steady as investors await Fed meeting minutes Calculated Risk Housing Starts Increased to 1.428 million Annual Rate in July Calculated Risk Blog California Home Sales Down Year-over-year for 4th Straight Month Calculated Risk Blog FOMC Minutes: "Committee might face difficult tradeoffs" regarding Unemployment and Inflation Calculated Risk Blog AIA: "Business at architecture firms remains soft" in July Calculated Risk Blog DOT: Vehicle Miles Driven Increased 1.5% year-over-year

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