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Mortgage Rates Fall for a Second Straight Week, Freddie Mac Says

The 30-year fixed averaged 6.65% and the 15-year fell to 5.95% in the week ending August 20 — both down slightly from the week before, and both still above where they stood a year ago.

Meridians Money Desk

Published 23 August 2026 · Updated 23 August 2026 · 3 min read

Mortgage Rates Fall for a Second Straight Week, Freddie Mac SaysFinance
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The short answer

  • Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed-rate mortgage at 6.65% for the week ending August 20, 2026, down from 6.67% the prior week.
  • The 15-year fixed-rate mortgage averaged 5.95%, down from 5.96% the week before.
  • It was the second consecutive weekly decline for the 30-year rate.
  • Both rates remain above year-ago levels: the 30-year was 6.58% and the 15-year was 5.69% in the same week of 2025.

The average rate on a 30-year fixed mortgage ticked down to 6.65% for the week ending August 20, 2026, according to Freddie Mac's weekly Primary Mortgage Market Survey — the second straight week of declines.

The numbers

  • 30-year fixed: 6.65%, down from 6.67% the previous week.
  • 15-year fixed: 5.95%, down from 5.96% the previous week.
  • A year ago: 30-year at 6.58%, 15-year at 5.69%.

What Freddie Mac said

“The 30-year fixed-rate mortgage declined this week averaging 6.65%.”

Freddie Mac, Primary Mortgage Market Survey

Reading the trend

Two consecutive weekly declines don't establish a long-term direction on their own — Freddie Mac's survey is a snapshot of lender-reported rates for borrowers with strong credit, and week-to-week moves of a few hundredths of a point are common. Both the 30-year and 15-year rates remain higher than they were at this point in 2025, even after the recent pullback.

Why it matters for buyers

Mortgage rates factor directly into monthly payment size and how much house a given budget can afford. Small weekly moves add up over the life of a loan, which is why prospective buyers and people considering a refinance often watch the Freddie Mac survey as a benchmark, alongside quotes from individual lenders.

Sources

Every factual claim above is traceable to these documents. Check them — that is why they are here.

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Meridians Money Desk is an editorial desk at Meridians, not an individual. A desk byline means the article was produced and fact-checked to that desk's published standards. Read our editorial standards and corrections policy.

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