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Mortgage Rates Hit 10-Month Low, Boosting Home Sales

8/29/2025

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Summary

Story summary

Mortgage rates have dropped to 6.58%, the lowest in 10 months for a 30-year fixed mortgage.
The median monthly mortgage payment in the U.S. is $2,616, the lowest recorded this year.
Pending home sales rose by 1.6% year-over-year, with buyer interest increasing by 3%.
Caution persists among some buyers, who are waiting for potential Federal Reserve rate changes.

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Story summary

Mortgage rates have dropped to 6.58%, the lowest in 10 months for a 30-year fixed mortgage.
The median monthly mortgage payment in the U.S. is $2,616, the lowest recorded this year.
Pending home sales rose by 1.6% year-over-year, with buyer interest increasing by 3%.
Caution persists among some buyers, who are waiting for potential Federal Reserve rate changes.