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Daily updates on interest rates
Interest Rate
6.125%
APR
6.249%
Points
1.000
Last Updated
01 Aug 2025
Interest Rate
6.375%
APR
6.539%
Points
1.375
Last Updated
01 Aug 2025
Interest Rate
6.625%
APR
6.743%
Points
0.902
Last Updated
01 Aug 2025
Interest Rate
6.000%
APR
6.161%
Points
1.125
Last Updated
01 Aug 2025
Interest Rate
6.000%
APR
6.346%
Points
1.084
Last Updated
01 Aug 2025
Interest Rate
6.000%
APR
6.181%
Points
1.250
Last Updated
01 Aug 2025
Interest Rate
6.500%
APR
6.658%
Points
1.000
Last Updated
01 Aug 2025
Interest Rate
6.625%
APR
6.798%
Points
0.880
Last Updated
01 Aug 2025
Interest Rate
6.625%
APR
6.773%
Points
0.902
Last Updated
01 Aug 2025
Interest Rate
6.375%
APR
6.647%
Points
1.625
Last Updated
01 Aug 2025
Interest Rate
5.625%
APR
5.820%
Points
0.953
Last Updated
01 Aug 2025
Interest Rate
5.875%
APR
6.111%
Points
0.875
Last Updated
01 Aug 2025
Interest Rate
5.625%
APR
5.868%
Points
0.953
Last Updated
01 Aug 2025
Interest Rate
6.375%
APR
6.850%
Points
0.910
Last Updated
01 Aug 2025
Interest Rate
6.375%
APR
6.880%
Points
0.910
Last Updated
01 Aug 2025
31 Jul 2025
Today’s most important report for mortgage rates was the PCE Price Index, a key measure of inflation that the Federal Reserve watches closely. For homebuyers, this kind of data matters because lower inflation tends to keep mortgage rates from rising too quickly.
Here’s what stood out:
The June PCE report came in slightly cooler than expected. While the headline numbers looked like they matched forecasts (0.3% monthly increase), the detailed numbers tell a better story. The unrounded “core” PCE number—which strips out volatile food and energy prices was actually lower than expected. That’s a positive sign for mortgage rates because it suggests inflation may be easing, even if just slightly.
However, it’s not all good news. Goods inflation (think prices for things you buy) is still showing signs of strength, and the impacts of recently announced tariffs haven’t fully shown up in the data yet. Plus, jobless claims were lower than expected, and wages measured by the Employment Cost Index are rising faster than usual. Both of those signs point to a still-strong labor market, which can put upward pressure on rates.
Despite that, mortgage bonds are holding on to their modest gains from overnight trading. That’s encouraging for borrowers, as it means today’s data isn’t likely to cause a big spike in rates at least for now.
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30 Jul 2025
Mortgage rates are slightly higher today, and much of that has to do with a new GDP report that looked stronger than expected on the surface. But a closer look shows that the reaction in the bond market and the increase in rates might not be fully justified.
Here’s what happened:
Two reports came out this morning that could influence mortgage rates. The first, a jobs report from payroll company ADP, came in slightly higher than expected but wasn’t far enough off the mark to cause much movement in the markets.
The second report, however, was the government’s estimate of economic growth (GDP) for the second quarter. It showed a 3.0% growth rate, much better than the 2.4% many analysts expected. At first glance, that sounds like great news for the economy, and bond prices dropped as a result—which tends to push mortgage rates higher.
But here’s the catch: that growth came mostly from an increase in exports, not from strong consumer or business spending. In fact, true domestic demand what people and businesses actually spent continued to fall. So, while the headline number looked strong, the underlying data wasn’t as impressive. That means today’s increase in mortgage rates may not be backed by real economic strength.
Another factor at play is inflation. A component of today’s report showed prices rising slightly faster than expected, which raises concern about tomorrow’s upcoming inflation report. If that data comes in hotter than expected, it could put more upward pressure on rates.
For now, mortgage rates are only giving back about half of yesterday’s improvement. But with a major Fed announcement and press conference scheduled for later today, markets may shift again depending on what’s said about inflation and the economy.
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29 Jul 2025
Mortgage rates saw a small but welcome improvement today, thanks in part to economic data that hinted at a softening job market, something that often works in favor of lower rates.
The bond market, which plays a key role in determining mortgage rates, has been moving in a relatively narrow, sideways pattern lately. But even small shifts matter, and today started off on a positive note. Bond prices began rising early in the morning before U.S. markets opened, which helped push rates slightly lower.
At 10am, new data on the labor market came out, and while none of it was dramatic, it generally pointed to a slowing job market. Job openings and the number of people voluntarily leaving their jobs (a sign of confidence) both declined. Fewer people quitting can be viewed as a sign that workers feel less confident about finding a new job, which suggests the economy may be cooling down.
In addition, a separate measure within the Consumer Confidence report showed that the gap between people who think jobs are easy to get versus hard to find has shrunk to its lowest level in years. That kind of shift often supports higher bond prices and slightly lower mortgage rates.
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28 Jul 2025
After a week packed with major economic updates, today has been relatively quiet in terms of movement for mortgage rates. Even news of a new trade deal between the U.S. and the European Union didn’t stir much reaction in the bond market. Interest rates, which are closely tied to bond prices, remained fairly steady, slightly higher than overnight levels, but not in any meaningful way.
One reason for the calm may be ongoing uncertainty around U.S.–China trade negotiations, which has kept investors cautious. While there were no major economic reports released today, the government did hold two important Treasury auctions, one for 2-year and one for 5-year notes. That’s a bit unusual, and combined with month-end trading adjustments, it’s helping set the stage for more activity later this week.
Bigger market-moving events, including fresh economic data and a Federal Reserve announcement, are coming soon. These could influence bond prices—and by extension, mortgage rates.
The Week Ahead
Here are key events in the coming days that could impact mortgage rates:
Tuesday: Consumer Confidence Report
If consumer confidence comes in stronger than expected, it suggests people are optimistic about the economy, which can hurt bond prices and push rates higher. A weaker reading may have the opposite effect.
Wednesday: Fed Meeting Announcement
While the Fed likely won’t change policy this month, markets will pay close attention to what they say about the future. If they sound concerned about inflation staying high, bond prices could fall and rates could rise. If they indicate progress in lowering inflation, bond prices may rise and rates could fall.
Thursday: Gross Domestic Product (GDP) Report
This measures overall economic growth. A stronger-than-expected GDP number can cause bond prices to drop, leading to higher rates. A weaker number may have the opposite effect.
Friday: Core PCE Inflation Report
This is one of the Fed’s preferred inflation gauges. If it shows that prices are rising quickly, bond investors may get nervous and sell, causing rates to rise. If inflation appears to be cooling off, bond prices could rise and help lower mortgage rates.
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25 Jul 2025
Mortgage rates didn’t move much today, even with a full slate of headlines and economic data. Early this morning, bond prices were a bit stronger, which generally helps keep rates down, but that reversed after a series of comments from former President Trump about upcoming trade deals and his thoughts on interest rates and the dollar. Meanwhile, Durable Goods Orders data came in much weaker than expected, but the bond market largely ignored it since this report doesn’t usually drive big changes.
In simple terms, despite today’s trade and economic news, bond prices remained in a narrow range, leading to little change in mortgage rates overall.
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24 Jul 2025
This morning’s jobless claims report showed fewer people filing for unemployment benefits, with the 4-week average now at its lowest level in 13 weeks. Even though this isn’t the most influential economic report, it’s one of the only meaningful pieces of data out this week. As a result, bond prices slipped a bit both before and after the report was released, causing mortgage rates to edge slightly higher today.
In simple terms, when the job market shows strength like this, it tends to boost confidence in the economy, which pushes bond prices down and causes mortgage rates to go up.
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19 Apr 2025
Deciding Whether to Lock in Your Mortgage Rate? Here’s What You Need to Know
“Should I lock in my mortgage rate now or wait?” It’s the question on every homebuyer’s mind. While we all wish for a crystal ball to give us the answers, the truth is, there’s no one-size-fits-all solution. But, don’t worry, I’ve got some insights to help guide your decision. Float simply means you have not locked in your interest rate and the rate or the points will continue to fluctuate daily with the market. Locking means you have locked in the interest rate and points.
Be aware: Just because you have asked your lender to lock in the interest rate doesn’t mean you ‘ll be approved. Depending on your credit score, or numerous other factors, the final rate and points could vary. If you are denied approval for that loan program and you are approved for a different loan program that lock won’t be valid on the new program. In short, unless you have full loan approval just because you are locked, the final rate and points could change.
First Up: If You Want a Sure Thing…
If you’re looking for a straightforward answer, and you’d rather not gamble on what rates will do next, then locking in your rate is the way to go. It’s like choosing a fixed price for your gas for the next ten years, regardless of whether prices go up or down.
But, If You’re Feeling a Bit More Adventurous…
Accepting that no one has a crystal ball can be liberating. You might think experts have the inside scoop, but in reality, predicting market movements is as much a gamble for them as it is for you. Even though it might seem like there’s a method to the madness, market predictions have proven to be a hit or miss.
The Catch with Predictions
Because everyone consumes information differently, we tread lightly with our predictions. You’ll rarely see us lean too heavily one way without mentioning other possibilities. It’s not about telling you what will happen; it’s about giving you the knowledge to make your own informed decisions. Think of it as learning to fish instead of being given a fish.
Considering Locking Your Rate? Think About This…
Many folks lean towards waiting for rates to drop before they lock in, attracted by the potential savings. But, there’s a pattern among the pros: the more they understand the market, the more they tend to lock in rates early. This doesn’t mean one strategy is universally better; it’s about managing risk and personal preference.
When Floating Could Work in Your Favor
When It’s a Gamble to Float
Solid Reasons to Lock In
A Reality Check on Predicting the Future
Day-to-day, predicting mortgage rates is a gamble. Historical trends suggest that trying to outsmart the market often doesn’t end well. Remember, if it seems obvious to you, others have likely already acted on it. Keep in mind, that if you could predict rates you would make millions of dollars a year as a bond trader!
So, What’s Next?
If you’re tempted to test your theories without risking real money, go for it! Keep a record and see how you do over a few months. If you find a winning strategy, keep it to yourself and maybe consider a career in hedge funds. Otherwise, understand that it’s often a 50/50 chance, and make your lock or float decision with that in mind.
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19 Apr 2025
When you’re in the market to buy a home, understanding mortgage interest rates is crucial. One of the key factors that influence these rates is the yield on the US 10-Year Treasury Bill (T-Bill). But how exactly does this relationship work, and why should you, as a potential homebuyer, care? Let’s break it down.
The US 10-Year Treasury Bill is a government debt security that matures in ten years. When you buy a T-Bill, you’re essentially lending money to the US government, which in return pays you interest. The yield on the 10-Year T-Bill is considered a benchmark for long-term interest rates, including mortgage rates.
Mortgage interest rates, particularly for 30-year fixed-rate mortgages, often move in tandem with the yield on the 10-Year T-Bill. Here’s why:
As a prospective homebuyer, understanding the relationship between the 10-Year T-Bill yield and mortgage rates can help you make informed decisions. Here are some key takeaways:
The yield on the US 10-Year Treasury Bill is a significant indicator for mortgage interest rates. By keeping an eye on T-Bill yields, you can gain valuable insights into mortgage rate trends and the overall economic environment. This knowledge can empower you to make more strategic decisions as you navigate the home buying process, ensuring that you secure the best possible mortgage terms for your new home.
Remember, while the 10-Year T-Bill yield is a key factor, it’s just one piece of the puzzle. Always consider consulting with a mortgage professional to understand all the factors that might affect your specific situation. Happy house hunting!
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10 Apr 2025
If you’re in the market to buy a home, you’ve likely come across the term “CPI” and heard how it can affect mortgage interest rates. But what exactly is CPI, and why does it matter to you as a homebuyer? Let’s break it down into simple terms.
CPI stands for the Consumer Price Index. Think of it as a thermometer measuring the health of the economy by tracking the cost of a basket of goods and services that typical consumers buy, such as groceries, clothes, and medical services. The CPI report, released monthly by the Bureau of Labor Statistics, shows whether this basket’s cost has gone up or down, essentially measuring inflation or deflation.
The CPI is a crucial indicator for both the economy’s health and the direction of mortgage interest rates. Here’s why:
Mortgage rates don’t directly follow the CPI, but they are influenced by the actions the Federal Reserve takes in response to CPI data. Here’s how:
As a homebuyer, understanding CPI and its impact on mortgage rates can help you make informed decisions:
While CPI is just one of many factors affecting mortgage rates, it’s a critical one that provides valuable insights into economic trends. By understanding CPI, you can better anticipate changes in mortgage rates and plan your home purchase with more confidence. Remember, a well-informed homebuyer is a smart homebuyer.
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09 Apr 2025
When you’re looking into getting a mortgage, you’ll likely come across the term APR, or Annual Percentage Rate. Think of APR as the true cost of borrowing money for your home, which usually ends up being more than just the interest rate your lender talks about.
Here’s the thing, though: calculating APR involves a mix of upfront costs and a bit of human guesswork. Because of this, it’s not a perfect measure. Just because one lender offers a slightly lower APR doesn’t automatically mean you’re getting a better deal.
Let’s dive into something called “prepaid finance charges” (PFCs). These are basically fees you pay upfront to get your mortgage, not for any actual service like homeowners insurance (which you’d pay for regardless of a mortgage). Whether it’s a fee for processing your loan or something else, these PFCs are a big part of figuring out your APR.
Whether a loan has a lot of these charges or just a few isn’t necessarily good or bad. Sometimes, lenders might offer you a higher interest rate to cover these fees, meaning you don’t pay them upfront but over the life of your loan instead. This choice boils down to paying more now or more later.
The reason APR is important is because lenders have to tell you what it is by law, aiming to show the real cost of your loan. Sounds helpful, right? Well, it’s a bit more complicated because lenders calculate APR in their own ways. While most follow similar methods, some might tweak the numbers to make their APR look more appealing. Some lenders might also play it safe with what they count as a PFC to avoid getting in trouble with regulators, which can make their APR seem higher even if the upfront costs are the same.
You might see a lower APR, but because it has a lot of upfront fees it could be a bad option for you if you plan to sell the home, or refinance, in a few years. That’s because the APR is calculated over the whole term of the loan, but not many people actually keep the home or the loan for thirty years!
When comparing APRs make sure you are comparing the same type of loan. Don’t compare the APR for a 30 year fixed rate mortgage against and APR for an adjustable rate mortgage.
So, here’s the takeaway: Don’t just take an APR at face value. To really see which mortgage offer is better, you’ll need to compare the nitty-gritty details of those upfront costs. It’s a bit of a hassle, but it’s the best way to make sure you’re truly getting the best deal on your mortgage.
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09 Apr 2025
You want the lowest payment on your mortgage, right? So what is a mortgage rate exactly and who determines it?
Here’s a simple way to understand it:
A mortgage is a loan that you promise to repay. And it’s secured by your house…so if you don’t pay it back the lender gets to take the house. That makes it a pretty safe loan for the lender. In the lending world, safe usually means a lower interest rate.
While you might get a small loan from a credit union and pay that credit union back directly, mortgages are usually pretty large (especially with house prices today) so most mortgages eventually get bundled together with other similar mortgages and big investors buy them. A bunch of mortgage loans pooled together is usually sold as a mortgage backed security.
That’s not super important for you to understand, except for one thing…the market determines the interest rates, not your loan officer, underwriter or even the president of the mortgage company.
In the past thirty years rates have been over 10% and as low as around 3%. But none of that matters, because the interest rate today is determined by the market.
The market is simply what investors are collectively willing to lend money at. Investors want the best risk adjusted return on their money. Investors can do lots of things with their money such as buy US government bonds, invest in mortgage backed securities, or lend money to companies (not to mention investing in stocks, etc). Since a US government bond is considered the safest, that usually has the lowest interest rate. A mortgage to someone with perfect credit and a big down payment would be safer than a mortgage to someone that had a recent bankruptcy and a small down payment. A loan to Apple would be safer than a loan to a small company that isn’t profitable.
Since mortgage rates are usually considered pretty safe, but not as safe as a US government bond, mortgage rates will usually be higher than than a US government bond, but track pretty closely.
Since a 30 year fixed rate mortgage usually ends up getting paid off in around 10 years, mortgage rates are usually pretty correlated to the 10 year US treasury notes.
The federal reserve doesn’t control mortgage rates, but since they control the federal funds rate essentially the prime rate they indirectly control mortgage rates, because those investors just want the best and safest return. If the Federal Reserve raises rates in other areas mortgage rates will usually follow up up0, or if teh Federal Reserve is lowering other rates then mortgage rates will usually trend down.
The biggest impact on mortgage rates is inflation. Each week different economic reports are released. These reports influence the Federal Reserve’s actions and ultimately teh Federal Reserve is trying to keep the economy growing at a moderate pace with a little bit, but not too much inflation. We have another article on inflation, but the bottom line is that high inflation equals higher rates. Low inflation means lower rates. Bad economic news is usually good for interest rates (careful what you wish for…a low mortgage rate won’t help much if you’re unemployed).
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