U.S. Mortgage Rates Drop for First Time in Six Weeks

Average long-term U.S. mortgage rates decreased on August 13, 2026, marking the first decline in six weeks. According to Freddie Mac, the benchmark 30-year fixed-rate mortgage fell to 6.67% from 6.69% the previous week, while 15-year fixed-rate mortgages averaged 5.96%, down from 6.01%.

Despite the recent dip, borrowing costs remain higher than they were in August 2025 and significantly above February 2026 levels. Rates surged following the start of the U.S. war with Iran, as soaring crude oil prices drove bond market expectations of higher inflation.

The current easing mirrors a decline in the 10-year Treasury yield, which reached 4.61% by midday Thursday. Market analysts indicate that the Federal Reserve System may halt further interest rate hikes if consumer and wholesale inflation continues to cool.