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Mortgage Rates Drop: New Home Sales Surge in August

10/6/2025

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Summary

Story summary

Rates must fall to about 5.75% to stimulate buyer activity, per HomeLight.
The average 30-year rate is about 6.30%, down from 7% in January.
New-home sales rose in August as rates eased; existing-home sales remained sluggish.
Nearly 20% of homeowners have mortgage rates of 6% or higher.
A drop below 6% could encourage more homeowners to sell and boost activity.

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Story summary

Rates must fall to about 5.75% to stimulate buyer activity, per HomeLight.
The average 30-year rate is about 6.30%, down from 7% in January.
New-home sales rose in August as rates eased; existing-home sales remained sluggish.
Nearly 20% of homeowners have mortgage rates of 6% or higher.
A drop below 6% could encourage more homeowners to sell and boost activity.