August 2025

Mortgage rates hit 10-month low as Powell hints at Fed cut

Enjoy complimentary access to top ideas and insights — selected by our editors. Federal Reserve Board chairman Jerome Powell’s apparent pivot, widely seen as telegraphing a short-term rate cut in September, helped drive mortgage rates. However, the decline on the 30-year fixed rate mortgage was a mere 2 basis points, to 6.56% as of Aug.

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