Where Are Mortgage Rates Right Now?
According to Freddie Mac’s Primary Mortgage Market Survey, the average 30-year fixed-rate mortgage was 6.65% as of August 20, 2026.
Freddie Mac also noted that mortgage rates can move from week to week, which reinforces something Sheila and Aubra discussed on the podcast: buyers are constantly hearing that rates are up, rates are down, or rates may be changing again.
Source: Freddie Mac Primary Mortgage Market Survey
https://www.freddiemac.com/pmms
Why Is the Federal Reserve Giving Less Guidance?
The conversation was prompted by a recent Realtor.com article examining comments from Federal Reserve officials about providing less forward guidance on future interest-rate decisions.
That matters because markets have historically looked closely at the Fed’s language for clues about where monetary policy may be headed. Less guidance could mean even more uncertainty when consumers and markets try to anticipate future rate movements.
Source: Realtor.com, “Fed Officials Signal Less Guidance on Future Interest Rate Decisions”
https://www.realtor.com/news/real-estate-news/fed-interest-rates-christopher-waller-speech-forward-guidance/
The Fed Does Not Directly Set Mortgage Rates
One of the biggest misconceptions for homebuyers is assuming that a Federal Reserve rate cut automatically means mortgage rates will fall.
The Federal Reserve controls the federal funds rate, but it does not directly set mortgage rates. Mortgage rates are influenced by the bond market, Treasury yields, inflation expectations, economic conditions and what investors believe may happen next.
That helps explain exactly what Sheila and Aubra were talking about. Sometimes we hear news about the Fed lowering rates or potentially lowering rates, while mortgage rates move in a completely different direction.
Additional reading from Realtor.com:
https://www.realtor.com/news/real-estate-news/fed-interest-rate-cut-decision-mortgage/
Want to Hear the Full Conversation?
Sheila and Aubra break down national real estate headlines and, more importantly, talk about what they actually mean for buyers and sellers in our local market on the Listed Podcast.
Watch the Listed Podcast:
https://goldengirlzteam.com/listedpodcast/
Read the Realtor.com article discussed in this episode:
https://www.realtor.com/news/real-estate-news/fed-interest-rates-christopher-waller-speech-forward-guidance/