30-Year Mortgage Rate Dips to 6.14% After Fed Meeting

Lead The national average 30-year fixed mortgage rate fell to 6.14% APR on Thursday morning, September 18, 2025, down four basis points from Wednesday, following the Federal Reserve’s 25-point rate cut.

Nut Graf Mortgage borrowers saw relief as long-term U.S. borrowing costs edged lower just after the Fed began its two-day September gathering. With rates near a one-year low, housing affordability gains renewed urgency for buyers and refinancers.

Key Details

• Current rate: 6.14% APR on 30-year fixed loans
• Change from prior day: -0.04% (4 basis points)
• Weekly change: -0.07% (7 basis points lower than one week ago)
• Yearly change: +0.46% (46 basis points above Sept. 2024)

Main Part The average 15-year fixed mortgage rate climbed five basis points to 5.60% APR, while the 5-year adjustable-rate mortgage fell one basis point to 7.17% APR.

Analysts attribute the drop in 30-year rates to market anticipation of the Fed’s policy move and softer Treasury yields. The 10-year Treasury yield, the key benchmark for home loans, slipped amid signs of a cooling labor market and moderating inflation expectations.

Homebuyers and refinancers alike have watched rates hover around 6% this week, with many locking in quotes ahead of the Fed’s decision. Mortgage applications for purchases and refinances have ticked up in recent days, reflecting renewed consumer interest.

Despite the decline, rates remain higher than pandemic-era lows, and prospective borrowers are advised to shop around and secure preapprovals to lock in the best available terms.