Mortgage rates hit a new year-to-date low, despite Fed drama

Article originally posted on HERE on August 29, 2025

Update: This story was updated on Aug. 28 to reflect another drop in mortgage rates to 6.50%.

Mortgage rates hit a new on Thursday for 2025 — now at 6.50% — despite President Trump’s attempt to fire Fed Governor Lisa Cook on Monday, which many said would drive up bond yields and mortgage rates this week.

I completely understand that this is a complex and confusing topic. On this episode of the HousingWire Daily podcast, I discuss why I believe the bond market and mortgage rates didn’t react much to the news of a president trying to fire a Fed governor. But I don’t think anyone would have the lowest mortgage rates of 2025 on their bingo card this week.