{"id":51992,"date":"2025-08-14T12:38:26","date_gmt":"2025-08-14T16:38:26","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/mortgage-rates-hit-lowest-since-october-2024-russia-extends-gasoline-export-ban\/51992\/"},"modified":"2025-08-14T12:38:26","modified_gmt":"2025-08-14T16:38:26","slug":"mortgage-rates-hit-lowest-since-october-2024-russia-extends-gasoline-export-ban","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/mortgage-rates-hit-lowest-since-october-2024-russia-extends-gasoline-export-ban\/51992\/","title":{"rendered":"Mortgage Rates Hit Lowest Since October 2024; Russia Extends Gasoline Export Ban"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. 30-year fixed mortgage rates<\/strong> have fallen to <strong>6.58%<\/strong> as of August 14, marking their lowest level since October 2024.<\/li>\n<li>This decline, reported by <strong>Freddie Mac<\/strong>, represents a decrease from <strong>6.63%<\/strong> recorded the previous week.<\/li>\n<li><strong>15-year fixed mortgage rates<\/strong> also saw a dip, moving to <strong>5.71%<\/strong> from <strong>5.75%<\/strong>.<\/li>\n<li>Separately, <strong>Russia<\/strong> plans to extend its <strong>gasoline export ban<\/strong> through September, a move supported by Deputy Prime Minister <strong>Alexander Novak<\/strong>.<\/li>\n<\/ul>\n<p>Mortgage rates in the United States have continued their downward trend, with the average 30-year fixed-rate mortgage reaching <strong>6.58%<\/strong> on August 14, according to <strong>Freddie Mac<\/strong>&#39;s latest Primary Mortgage Market Survey (PMMS\u00ae). This marks the lowest point for these rates since October 2024, offering <em>potential relief for homebuyers<\/em> in the current market. The previous week&#39;s average stood at <strong>6.63%<\/strong>, indicating a notable five-basis-point drop.<\/p>\n<p>The decline in borrowing costs extends to shorter-term loans as well, with the 15-year fixed-rate mortgage averaging <strong>5.71%<\/strong>, down from <strong>5.75%<\/strong> last week. <strong>Sam Khater<\/strong>, <strong>Freddie Mac&#39;s<\/strong> Chief Economist, noted that <em>purchase application activity is showing improvement<\/em> as borrowers look to capitalize on these lower rates.<\/p>\n<p>In global energy news, <strong>Russia<\/strong> is moving to extend its <strong>gasoline export ban<\/strong> until September. Russian Deputy Prime Minister <strong>Alexander Novak<\/strong> has backed the Energy Ministry&#39;s proposal to maintain the restriction, which was initially set to expire at the end of August. This measure is primarily aimed at <em>stabilizing domestic fuel prices<\/em> within Russia. The Russian government has previously implemented similar bans and extensions to manage internal fuel supply and demand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. 30-year fixed mortgage rates have fallen to 6.58% as of August 14, marking their lowest level since 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