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Interest Rate
6.250%
APR
6.385%
Points
1.125
Last Updated
25 Apr 2025
Interest Rate
6.750%
APR
6.893%
Points
1.375
Last Updated
25 Apr 2025
Interest Rate
6.750%
APR
6.859%
Points
0.871
Last Updated
25 Apr 2025
Interest Rate
6.125%
APR
6.275%
Points
1.000
Last Updated
25 Apr 2025
Interest Rate
6.250%
APR
6.587%
Points
0.930
Last Updated
25 Apr 2025
Interest Rate
6.250%
APR
6.392%
Points
0.875
Last Updated
25 Apr 2025
Interest Rate
6.624%
APR
6.796%
Points
1.125
Last Updated
25 Apr 2025
Interest Rate
6.875%
APR
7.043%
Points
0.796
Last Updated
25 Apr 2025
Interest Rate
6.750%
APR
6.883%
Points
0.871
Last Updated
25 Apr 2025
Interest Rate
7.000%
APR
7.256%
Points
1.500
Last Updated
25 Apr 2025
Interest Rate
5.750%
APR
5.934%
Points
0.948
Last Updated
25 Apr 2025
Interest Rate
5.875%
APR
6.111%
Points
0.875
Last Updated
25 Apr 2025
Interest Rate
5.750%
APR
5.972%
Points
0.948
Last Updated
25 Apr 2025
Interest Rate
6.875%
APR
7.096%
Points
0.807
Last Updated
25 Apr 2025
Interest Rate
6.875%
APR
7.120%
Points
0.807
Last Updated
25 Apr 2025
25 Apr 2025
If you’re shopping for a home and paying attention to mortgage rates, today is one of those calm-before-the-storm kind of days. The only scheduled economic report—Consumer Sentiment—was simply a final update to data we already saw two weeks ago. Markets don’t typically react much to these revisions, and today was no exception.
But don’t let the quiet lull fool you—next week could be very different.
Starting Monday, a series of major economic reports are scheduled to hit every single day. That’s unusual, as there’s normally at least one day without big news. These reports will cover a wide range of topics that matter to mortgage rates, from inflation to consumer spending to labor market conditions.
Why this matters for homebuyers:
Mortgage rates are closely tied to how the bond market reacts to economic data. Right now, rates have returned to more stable levels—close to where they were before tariff-related headlines shook things up. But with next week’s full lineup of reports, any surprise (positive or negative) could cause rates to move.
For now, it’s a good time to evaluate your financing options while things are calm. But keep an eye on next week—it could be a turning point.
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24 Apr 2025
If you’ve been keeping an eye on mortgage rates while looking to buy a home, the last few weeks may have felt like a rollercoaster. But here’s the good news: the bigger picture in the bond market—the key driver behind mortgage rates—is beginning to look more stable.
So, what does “normal” mean right now?
Over the past week or so, bond prices have been moving within a more familiar, steady range. This is a noticeable shift from the chaos we saw after the rollout of new tariffs and other political developments, which had sent markets and mortgage rates swinging.
Back in late February, before all the tariff talk, the bond market was in a holding pattern—waiting to see what kind of economic and policy changes would unfold. We’re starting to return to that kind of environment again: more cautious, more stable, and less reactive to every headline.
For homebuyers:
Mortgage rates are no longer spiking like they were a few weeks ago. That doesn’t mean big changes aren’t possible—markets are always on the lookout for the next surprise, whether it’s a new economic report, a major policy announcement, or an international event. But for now, the calmer pace gives buyers a bit more breathing room.
Stay tuned—and if you’re in the market, consider using this period of stability to explore rate options and make informed decisions.
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23 Apr 2025
If you’re in the process of buying a home or watching mortgage rates closely, you may have noticed a sudden improvement today—and it has everything to do with what’s been happening in the bond market.
After several days of rising rates, bonds are rallying today, which is helping bring mortgage rates back down a bit. So, what changed?
There have been two major sources of pressure on mortgage rates lately:
1. Tariff Tensions with China – Markets have been concerned that high tariffs could either increase inflation (which is bad for bonds) or reduce the demand for U.S. financial assets like bonds. Both scenarios tend to push mortgage rates higher.
2. Political Uncertainty – Last week, President Trump criticized the Federal Reserve Chair publicly. That kind of commentary creates uncertainty, and markets reacted by pulling back from U.S. bonds, causing mortgage rates to rise.
But late last night, President Trump dialed back both issues. He said he’s not thinking about removing the Fed Chair and also suggested that the proposed tariffs on China might not be as steep as initially feared. Investors breathed a sigh of relief and started buying bonds again—sending prices up and yields (aka mortgage rates) down.
What This Means for Homebuyers:
This unexpected shift has helped improve mortgage rates, at least for now. If you’re actively shopping for a home or planning to lock in a rate, this could be a good opportunity. That said, markets are still extremely sensitive to political headlines and global developments, so staying informed is key.
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22 Apr 2025
The past few weeks have been a whirlwind of ups and downs driven more by political headlines than traditional economic data. But this week, a quiet market has actually brought a bit of stability—and that’s not a bad thing.
Last week, mortgage rates improved slightly as financial markets calmed down in the absence of new tariff announcements. But then came Monday’s headlines, where President Trump once again took aim at Federal Reserve Chair Jerome Powell. That public criticism shook investor confidence and caused markets to react—stocks dropped, bond prices fell, and mortgage rates nudged higher.
Now, as we move further into the week, things have quieted down again. There haven’t been any follow-up comments or major new developments, and investors are cautiously buying back into bonds. That’s important because when bond prices go up, mortgage rates generally come down.
Still, it’s important to understand that even though rates may be stabilizing for now, the kind of market volatility we’ve seen lately tends to leave a mark. Even when the drama cools off, mortgage rates don’t always bounce all the way back. Some of the increases that happened in response to the political uncertainty might stick around for a while.
What This Means for Homebuyers:
Right now, “no news” is actually helping to prevent rates from rising further. But rates remain sensitive to any new political or economic developments, especially those tied to inflation, tariffs, or Fed policy. If you’re shopping for a home, it’s a good idea to stay informed and be prepared to act if rates suddenly shift again.
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21 Apr 2025
Mortgage Market Update: Drama Returns, But Rates Hold Steady (For Now)
If you’re in the process of buying a home, you’ve probably noticed that mortgage rates have been anything but predictable lately. After a brief period of calm last week, some fresh drama in the financial world is bringing new uncertainty—but with mixed results for mortgage rates.
Here’s what happened: Last week brought some cautious optimism that the chaos caused by tariff announcements earlier this month might start to settle. But those hopes took a hit late in the week when President Trump sharply criticized Federal Reserve Chair Jerome Powell—going so far as to suggest he could be removed.
That kind of uncertainty makes global investors nervous. When confidence takes a hit, we often see movement in currency markets, stock prices, and yes—mortgage rates. In this case, the U.S. dollar weakened, stocks declined, and bond markets saw some pressure early this morning.
However, the volatility actually helped stabilize mortgage rates for the moment. As investors pulled money out of stocks and looked for safer assets, bond prices went up—and since mortgage rates tend to move in the opposite direction of bond prices, rates were able to hold steady, at least for now.
Adding to the tension was news that the U.S. failed to secure a trade deal with Mexico over the weekend, which fueled more uncertainty in financial markets.
What does this all mean for homebuyers? Mortgage rates haven’t spiked, but the path ahead is uncertain. Political headlines and global trade developments—not just economic reports—are playing a big role in rate movement right now. Staying informed is key, especially if you’re planning to lock in your rate soon.
📌 The Week Ahead
Here are the key events and reports that could influence mortgage rates in the coming days:
▸ Tuesday – Consumer Confidence:
If consumers are feeling good about the economy, that typically supports rising stock prices and can put upward pressure on mortgage rates. Lower confidence might bring rates down.
▸ Thursday – Durable Goods Orders:
This measures business investment in long-lasting products. A strong reading could suggest a resilient economy, potentially pushing rates higher. A weak result might lead to lower rates.
▸ Friday – PCE Inflation & Personal Spending:
This is one of the most closely watched inflation reports. If inflation is hotter than expected, mortgage rates could rise. If it’s cooler, rates may move lower as bond prices rise.
With financial markets reacting strongly to political news and global trade developments, mortgage rates could remain sensitive in the short term. For homebuyers, the key is to stay aware of these shifts and talk with your lender about the best time to lock in a rate.
Sign up for Rate Alerts at MortgageNews.org and receive mortgage rate quotes tailored to your individual situation from YourWayLoan & Encompass Lending Group.
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17 Apr 2025
If you’re house hunting or locking in a mortgage, this week has been a welcome break. After two weeks of wild swings in mortgage rates caused by major economic headlines and tariff news, things have finally calmed down—at least for now.
Markets had a slower start today, and even though mortgage rates ticked slightly higher in early trading, it’s been one of the calmest days we’ve seen since early April. That’s good news for homebuyers hoping for some predictability.
One reason for the calm? Economic reports, like today’s big drop in the Philly Fed Index (which measures manufacturing activity), haven’t moved markets much. Normally, a sharp drop in data like this could help push rates lower, but with the holiday weekend approaching and traders mostly on the sidelines, the reaction has been muted.
More importantly, mortgage rates are still holding on to the gains made over the past three days. That means borrowing costs are a bit more favorable than they were earlier in the month, offering a small window of opportunity for buyers.
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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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