Mortgage rates dip for first time in six weeks, but remain above year-ago levels

For the first time in six weeks, the price of borrowing to own a home eased slightly in mid-August 2026 — a small but symbolically meaningful pause in a months-long climb that has quietly reshaped who can afford to buy. The relief is real but incomplete: rates remain far above where they stood a year ago, and the gap between then and now continues to define the outer limits of possibility for millions of prospective homeowners. Whether this moment marks a turning point or merely a breath between ascents is the question the housing market is now holding.