Lowest Rates of The Year (Barely) After Powell Speech

Heading into the week, Fed Chair Powell's speech at the Fed's annual Jackson Hole Symposium was only event on the calendar that held much promise for motivating any major movement in mortgage rates. Not only did it deliver on that promise, but it did so in everyone's favorite direction. Powell didn't pivot too much from his last major speech on July 30th. But in light of the weak jobs numbers that came out 2 days later, he understandably called out a shift in the balance of risk between inflation and employment. In not so many words, like several other Fed members have pointed out in recent weeks, Powell essentially said the labor market is looking weak enough to entertain a rate cut in the near future, even as the inflation outlook remains somewhat uncertain.  The market began adjusting for this possibility on August 1st when the rocky jobs numbers came out. Today's speech was interpreted as additional validation of that move. With that, mortgage rates saw their biggest drop since August 1st, just barely beating out August 13th's lows to claim 2025's lowest spot. October 3rd, 2024 was the last time the average 30yr fixed rate was any lower. [thirtyyearmortgagerates]

August 22, 2025 Download our Mobile App: Download our Mobile App: Mortgage Rate Watch Lowest Rates of The Year (Barely) After Powell Speech Heading into the week, Fed Chair Powell's speech at the Fed's annual Jackson Hole Symposium was only event on the calendar that held much promise for motivating any major movement in mortgage rates. Not only did it deliver on that promise, but it did... (read more) MBS Commentary Bonds Cheer Powell Pivot Today's Jackson Hole speech gave Fed Chair Powell an opportunity to adjust his stance in light of much weaker jobs report that came out 2 days after the last Fed meeting. Powell had quite a bit to say, but the only thing the market really needed hear... (read more) Rob Chrisman Innovative Products, Retention, Marketplace; Fair Lending Litigation; Powell Speech A few years back someone told me, “Two lenders merging in this environment is like two drunks outside a bar holding each other up.” That isn’t quite the case anymore for various reasons (we’re just one big announcement away from yet another block bus... (read more) Mortgage Rates 30 Yr. Fixed Rate 6.52% -0.10% Rate Change Points Mortgage News Daily 30 Yr. Fixed 6.52% -0.10 0.00 15 Yr. Fixed 5.90% -0.07 0.00 30 Yr. FHA 6.11% -0.11 0.00 30 Yr. Jumbo 6.55% -0.12 0.00 7/6 SOFR ARM 5.99% -0.12 0.00 30 Yr. VA 6.13% -0.10 0.00 Updates Daily - Last Update: 8/22 15 Yr. Fixed Rate 5.90% -0.07% Rate Change Points Freddie Mac 30 Yr. Fixed 6.58% 0.00 0.00 15 Yr. Fixed 5.69% -0.02 0.00 Updates Weekly - Last Update: 8/21 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.68% +0.01 0.60 15 Yr. Fixed 5.96% +0.03 0.70 30 Yr. Jumbo 6.64% -0.06 0.60 Updates Weekly - Last Update: 8/20 MBS / Treasuries UMBS 30YR 5.5 100.38 +0.40 Price / Yield Change MBS UMBS 5.5 100.38 +0.40 UMBS 6.0 102.04 +0.28 GNMA 5.5 100.53 +0.29 GNMA 6.0 101.91 +0.20 Pricing as of: 8/22 5:31PM EST 10 Year US Treasury 4.2528 -0.0734 Price / Yield Change US Treasury 2 YR Treasury 3.693 -0.092 5 YR Treasury 3.756 -0.104 7 YR Treasury 3.975 -0.085 10 YR Treasury 4.253 -0.073 30 YR Treasury 4.876 -0.042 Pricing as of: 8/22 5:31PM EST Latest Video September may be a 'hawkish' rate cut, says Fmr. Cleveland Fed President Lo... Fed Chair Powell: Shifting balance of risk 'may warrant adjusting our polic... Fed Chair Jerome Powell indicates conditions ‘may warrant’ rate cuts Inflation is too high and continues to trend higher, says Cleveland Fed Pre... Around the Web Eye on Housing Powell Appears to Signal Rate Cuts Due to Evolving Circumstances Federal Reserve Monetary Policy and the Fed’s Framework Review Chair Jerome H. Powell Redfin Home Purchases Are Getting Canceled at a Record Rate Calculated Risk Blog Q3 GDP Tracking Eye on Housing Single-Family Home Size: 2Q25 Data CNBC Homebuyers have lost thousands of dollars in spending power since 2019here's how much CNBC Fix-and-flip real estate investors are pulling back S&P Global Growth and hiring accelerate in August, whilst selling price inflation hits three-year high Eye on Housing New and Existing Homes Remain Largely Unaffordable in Second Quarter Marketwatch Jobless claims jump to 2-month high - but still no sign of rising U.S. layoffs Calculated Risk Blog Newsletter: NAR: Existing-Home Sales Increased to 4.01 million SAAR in July; Up 0.8% YoY CNBC Treasury yields inch higher as investors look ahead to Fed Chair Powell's speech Calculated Risk Blog Philly Fed: State Coincident Indexes Increased in 41 States in July (3-Month Basis)

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