Mortgage Rates Hold Steady as Markets Await Key Afternoon News
Apr 02, 2025
Mortgage Rates Hold Steady as Markets Await Key Afternoon News
This morning’s job market report showed slightly stronger-than-expected hiring, which could have put upward pressure on mortgage rates. However, bond markets remained relatively stable as investors focused on other factors.
❖ Early gains faded after stocks rallied. Mortgage rates tend to move in the opposite direction of bond prices. While bonds initially strengthened overnight, a stock market bounce pulled bond yields higher, keeping mortgage rates from improving further.
❖ Markets are in a holding pattern. Mortgage rates are still moving within a relatively narrow range, waiting for bigger news to set the direction.
❖ Afternoon announcements could shift rates. A key tariff update later today could impact markets, depending on how it affects economic growth expectations. If investors see more uncertainty ahead, bond prices may rise, helping to keep mortgage rates steady or even slightly lower.
For homebuyers, mortgage rates remain relatively steady for now, but economic news in the coming days could change that. Staying informed can help you decide when to lock in your rate.