Mortgage Rates Decline for Second Consecutive Week

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August 20, 2026

The 30-year fixed-rate mortgage declined this week averaging 6.65%. With a dip in rates providing modest relief for homebuyers, it’s important to remember borrowers can potentially save thousands by shopping around for the best mortgage rate.

  • The 30-year fixed-rate mortgage averaged 6.65% as of August 20, 2026, down from last week when it averaged 6.67%. A year ago at this time, the 30-year FRM averaged 6.58%.
  • The 15-year fixed-rate mortgage averaged 5.95%, down from last week when it averaged 5.96%. A year ago at this time, the 15-year FRM averaged 5.69%.

Information provided by Freddie Mac.

Weekly Market Report

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For Week Ending August 8, 2026

The dog days of summer brought us sluggish buyer volume and stubbornly high prices. The national median sales price reached $434,100 in July—a 2% year-over-year increase—as the ongoing “lock-in effect” kept homeowners with ultra-low pandemic-era mortgages from listing their properties. Existing-home sales dropped 1.7% month-over-month in July to a seasonally adjusted annual pace of 4.06 million units, according to the National Association of Realtors®.

In the Twin Cities region, for the week ending August 8:

  • New Listings increased 14.6% to 1,648
  • Pending Sales decreased 0.6% to 1,012
  • Inventory increased 8.2% to 11,645

For the month of July:

  • Median Sales Price increased 3.4% to $408,238
  • Days on Market remained flat at 40
  • Percent of Original List Price Received decreased 0.2% to 99.1%
  • Months Supply of Homes For Sale increased 7.1% to 3.0

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.