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Kevin Warsh's First Official Speech at Jackson Hole Summit Precedes Falling Mortgage Rates

Mortgage rates are currently trending downward, with the average 30-year fixed rate falling to 6.54% on Friday, August 28, 2026. This decline follows a period of steady bond market activity, where minor late-day weakness in bonds was not significant enough to trigger immediate rate hikes by lenders. According to Zillow lender marketplace data, the 15-year fixed loan is at 5.86%, while the 5/1 ARM is at 6.31%. These figures come ahead of Fed Chair Kevin Warsh's first official speech at the Jackson Hole summit. Market analysts suggest that if bonds do not improve before the speech, lenders may face a disadvantage, potentially leading to higher rates the following day. While rates have nudged slightly higher than the previous year, they remain significantly lower than the October 2023 peak of 7.79%. For current homebuyers, this provides a more manageable entry point into the housing market compared to the high-water mark seen in late 2023.

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