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Mortgage Rates Drop To Lowest Level Since April

  • August 7th 2025

by UrbanTurf Staff

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Mortgage rate chart_08-07-25.png

Long-term mortgage rates continue to fall. 

Freddie Mac reported 6.63% as the average on a 30-year mortgage, down nine basis points from last week. Rates have now fallen for three weeks in a row. 

“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.”

The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.

See other articles related to: mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_drop_to_lowest_level_since_april/23764.

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