Overview

• 30-year fixed mortgage rates have eased to between 6.86% and 6.91%, marking their lowest readings since early April.
• Refinance costs have also dipped, with the average rate on 30-year refi loans falling to about 7.05%.
• In its fourth meeting of 2025, the Federal Reserve left its benchmark rate unchanged, limiting upward pressure on mortgage yields.
• Applications for home purchase loans declined by 0.4% week over week, leaving demand at historically low volumes.
• State-level averages show 30-year rates as low as 6.77% in some markets and exceeding 7% in higher-cost regions.