The average contract interest rate on 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) in the US edged down to 6.43% in the week ending October 3rd, 2025, from 6.46% the previous week, according to the Mortgage Bankers Association. “With mortgage rates on fixed-rate loans little changed last week, refinance application activity generally declined, with the exception of a modest increase for FHA refinance applications,” said Mike Fratantoni, MBA’s SVP. A year earlier, interest rates were slightly lower at 6.36%.