US Mortgage Rates Hold Near 11-Month Lows on September 6, 2025

Lead On Saturday, September 6, 2025, the national average 30-year fixed mortgage APR stood at 6.55%, while the 15-year fixed rate averaged 5.76%, according to Bankrate’s latest lender survey.

Nut Graf Mortgage rates remain anchored near their lowest levels in nearly a year as investors brace for a potential Federal Reserve rate cut later this month. Despite mixed economic signals-sluggish job growth versus sticky inflation-Treasury yields have stabilized, keeping borrowing costs comparatively modest.

Main Part

30-Year vs. 15-Year Fixed Rates

30-Year Fixed APR: 6.55%
15-Year Fixed APR: 5.76%

Refinance Snapshot

Average 30-year refinance interest rate: 6.67%
Average 15-year refinance interest rate: 5.95%

Mortgage Rate Variability Bankrate’s Mortgage Rate Variability Index sits at 5 out of 10, indicating moderate consistency in lender offers after recent volatility.

Market Drivers

Treasury Yields: The 10-year Treasury yield, the primary benchmark for mortgage rates, held near 4.2%, underpinning today’s rates.
Fed Outlook: Markets expect the Fed to cut its benchmark rate at its September 17 meeting, even as August inflation readings surprised to the upside.
Economic Data: A weak jobs report on September 5 tempered rate increases, reinforcing hopes for easier monetary policy.

What Borrowers Should Know

Rate Shopping Matters: With rates clustered tightly, small differences between lenders can translate into substantial lifetime savings.
Lock Timing: Borrowers weighing a purchase or refinance should monitor Treasury yields and Fed communications through mid-September.
Affordability Impact: On a $340,000, 30-year loan, every 0.10% rate change alters monthly payments by roughly $30.

Subhead: What’s Next? Analysts anticipate only modest rate shifts heading into October. Any dramatic move will hinge on September’s inflation and employment data releases.