Mortgage Rates Drop Ahead of Fed Chair Kevin Warsh's Jackson Hole Speech
On Friday, August 28, 2026, mortgage rates declined ahead of Federal Reserve Chair Kevin Warsh’s first official speech at the Jackson Hole economic symposium. According to Zillow data, average national mortgage rates for a 30-year fixed loan fell by three basis points to 6.54%, while the 15-year rate dropped 11 basis points to 5.86%. The 5/1 ARM also decreased slightly to 6.31%. These changes reflect market anticipation of Warsh’s remarks, which are expected to influence monetary policy expectations. The decline in rates is notable as it occurs just before a key Fed event that often shapes investor sentiment and economic forecasts. Refinance rates followed similar trends but were generally higher than purchase loan rates across most terms. The data highlights the sensitivity of mortgage markets to central bank communications, particularly during high-profile events like Jackson Hole. Consumers are advised to use tools such as Zillow’s mortgage calculator to understand how rate changes affect monthly payments and overall borrowing costs.
Topics: Fed Chair Kevin Warsh interest rates Jackson Hole summit