Mortgage Rates Are Anything But Lower This Week

Every now and then, a Thursday comes along where we have to set the record straight on what is actually going on with mortgage rates. That's because Freddie Mac releases its weekly mortgage rate survey on Thursdays and its methodology can cause confusion in the mortgage market.  This particular Thursday is an especially treacherous minefield of misinformation due to the juxtaposition with yesterday's Fed rate cut.  There are already too many people out there repeating the faulty notion that the Fed rate cut means lower mortgage rates. Adding fuel to that fire are various headlines today (quoting Freddie's data) saying that mortgage rates have fallen to the lowest levels in more than a year. Mortgages rates certainly WERE at the lowest levels in more than year when we reported that fact on Tuesday. But what a difference 2 days make... Actual daily average rates are up 0.20% since then--the fastest 2 day rise since the exact same thing happened after last month's Fed rate cut. We'd urge those who didn't absorb the lesson back then to do so today.  Bottom line: mortgage rates had already responded to all of the news and data that resulted in the Fed rate cuts.  By the time those cuts actually happen, they have no additional power to influence rates (other than the Fed Funds Rate itself, which is not a mortgage rate except in limited cases specific to Home Equity Lines of Credit based on the Prime Rate). How does Freddie get it so wrong?  They don't.  They just get it "so late." Freddie is reporting their rate as an average of last Thursday through this past Wednesday, and 4 out of those 5 days saw exceptionally low rates. As we noted yesterday, mortgage rates were already surging higher, but not until the afternoon. This means even yesterday's rate spike was too late in the day to push Freddie's average any higher.  In other words, it was perfectly bad timing for Freddie's Thursday release to be as low as it possibly could have been.

October 30, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.33% +0.06%   6.13% 7.26% 15 Yr. Fixed 5.85% +0.03%   5.6% 6.59% 30 Yr. Jumbo 6.30% +0.10%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Oct 30, 2025 Mortgage Rates Are Anything But Lower This Week Thu, Oct 30, 2025 3:42PM Every now and then, a Thursday comes along where we have to set the record straight on what is actually going on with mortgage rates. That's because Freddie Mac releases its weekly mortgage rate survey on Thursdays and its methodology can cause confusion in the mortgage market.  This particular Thursday is an especially treacherous minefield of misinformation due to the juxtaposition with yesterday's Fed rate cut.  There are already too many people out there repeating the faulty notion that the Fed rate cut means lower mortgage rates. Adding fuel to that fire are various headlines t... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.33% +0.06 0.00 15 Yr. Fixed 5.85% +0.03 0.00 30 Yr. FHA 6.05% +0.05 0.00 30 Yr. Jumbo 6.30% +0.10 0.00 7/6 SOFR ARM 5.95% +0.05 0.00 30 Yr. VA 6.07% +0.05 0.00 Updates Daily - Last Update: 10/30 Freddie Mac Rate Change Points 30 Yr. Fixed 6.17% -0.02 0.00 15 Yr. Fixed 5.41% -0.03 0.00 Updates Weekly - Last Update: 10/30 Mortgage Bankers Assoc. 30 Yr. Fixed 6.37% -0.05 0.59 15 Yr. Fixed 5.74% -0.03 0.67 30 Yr. Jumbo 6.39% -0.08 0.37 Updates Weekly - Last Update: 10/22 UMBS 30YR 5.0 99.56 -0.05   95.05 100.11 UMBS 30YR 5.5 101.08 -0.02   97.47 101.40 10 YR Treasury 4.097 +0.025   3.932 4.780 Enthusiasm Curbed. Back to Waiting Thu, Oct 30, 2025 10:22AM The simplest way to understand yesterday's post-Fed sell-off is as follows. The market's enthusiasm for 3 Fed rate cuts in 2025 had grown a bit too large for the Fed's liking. The market was nearly 100% certain of another cut in December. The Fed was not as certain, and Powell made it a point to say so yesterday. The result is a mild re-set in yields back to... (read more) MBS Price Change UMBS 4.5 97.50 -0.09 UMBS 5.0 99.56 -0.05 UMBS 5.5 101.08 -0.02 GNMA 4.5 97.62 -0.14 GNMA 5.0 99.70 -0.04 GNMA 5.5 100.88 +0.02 Pricing as of: 10/30 4:11PM EST US Treasury Yield Change 2 YR Treasury 3.610 +0.014 5 YR Treasury 3.720 +0.010 7 YR Treasury 3.899 +0.014 10 YR Treasury 4.097 +0.025 30 YR Treasury 4.650 +0.028 Pricing as of: 10/30 4:11PM EST Other News Non-QM Hedging, Best-Ex, Compliance Tools; Webinars and Training; Freddie and Redwood's Earnings Thu, Oct 30, 2025 11:45AM Are you ready to change the time on your car’s clock, or leave it and let it be right again on March 8, 2026? Some technology is cool. Imagine controlling your iPhone entirely with your eyes. (That would really keep me from riding my bike and talking on the phone!) Food delivery robots have human names and blinking eyes. But they’re not our friends any more ... (read more) Latest Video The labor market broadly can be categorized as 'low hire, low fire', says B... Private sector created nearly 15,000 jobs a week over the past month, preli... October consumer confidence comes in at 94.6 Dallas Fed Manufacturing Production Index remains unchanged in October Around the Web CNBC Mortgage rates jump 20 basis points following Fed cut CNBC Fed cuts rates for the second time this year, will end balance sheet run-off in December Federal Reserve Federal Reserve issues FOMC statement CNBC Mortgage rates drop to the lowest level in over a year, pushing refinancing 111% higher annually CNBC Treasury yields inch higher as investors weigh Fed's latest rate cut Eye on Housing The Fed Cuts amid Partly Cloudy Conditions Eye on Housing Which Local Markets Track National Trends the Most: 2024 Single-Family MAI Calculated Risk Blog Fannie and Freddie: Single Family Delinquency Rate Increased in September Calculated Risk Blog Inflation Adjusted House Prices 2.8% Below 2022 Peak; Price-to-rent index is 10.2% below 2022 peak CNBC European Central Bank holds rates steady as economy shows resilience Calculated Risk Blog Las Vegas in September: Visitor Traffic Down 9% YoY Calculated Risk Blog NAR: Pending Home Sales Unchanged in September; Down 0.9% YoY CNBC Euro zone economy ekes out 0.2% growth in the third quarter

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