Mortgage rates dip slightly to 6.65%, easing homebuyer costs
MarketsFN Data Team
The 30-year fixed mortgage rate fell 2 basis points this week to 6.65%, offering modest relief to buyers as the $400,000 monthly payment drops to $2,568 but remains $85 higher than last year.
At 6.65%, today's 30-year rate sits above the 3-month (6.55%), 1-year (6.32%), and 5-year (6.12%) averages, reflecting persistent inflation pressures. Rates remain near the 52-week high of 6.69%, far above last year's 5.98% low. A $400,000 loan now costs $2,568 monthly versus $2,483 a year ago at 5.98%.
Mortgage rates followed the 10Y Treasury yield (4.64%) lower this week, though the 2.01% spread to Treasuries remains elevated, signaling lender caution. The Fed's 3.63% policy rate continues to anchor borrowing costs, but sticky inflation keeps the mortgage-Treasury gap wide by historical standards.
Next week, watch for Fed Chair Powell's Jackson Hole speech and July PCE inflation data — hotter numbers could push rates toward 2026 highs. Seasonal inventory gains may also ease price pressures, offering rate stability.
Key Statistics at a Glance
| Week ending | August 27, 2026 |
| 30Y Fixed Rate | 6.65% |
| WoW change | ▼ 2.0 bps |
| YTD change | +49.0 bps |
| 15Y Fixed Rate | 5.95% |
| 15Y WoW | ▼ 1.0 bps |
| 3-month average | 6.55% |
| 1-year average | 6.32% |
| 5-year average | 6.12% |
| 52-week high | 6.69% |
| 52-week low | 5.98% |
| Fed Funds Rate | 3.63% |
| 10Y Treasury | 4.64% |
| Mortgage–10Y Spread | 2.01 pp |
| Monthly pmt $400k/30Y | $2,568 |
| vs 1 year ago | ▲ $85/month |
