Mortgage Rates Fairly Flat Despite Bond Market Volatility

Over time, mortgage rate movement lines up almost perfectly with movement in the underlying bond market, but there can be day to day discrepancies depending on the timing of market volatility. Think of mortgage rates like a restaurant that adjusts menu prices daily depending on the price of ingredients. Sometimes, ingredient prices will change significantly and early in the day, thus prompting the restaurant to adjust menu prices in the middle of the day.  Other times, the ingredient prices may not change by enough or may happen too late in the day to prompt any change from the restaurant.  These eventualities speak to the past 2 days for mortgage rates. Specifically, bonds improved yesterday afternoon, which would eventually push mortgage rates lower.  But it was too late in the day for most lenders to change their mortgage rates.  Now today, bonds moved back to the weaker levels from yesterday morning. So the bond market is weaker, which would indicate higher rates, but because mortgage rates didn't adapt to yesterday afternoon's changes, lenders weren't compelled to raise rates compared to yesterday morning's levels.

September 24, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.37% +0.00%   6.13% 7.26% 15 Yr. Fixed 5.89% -0.01%   5.54% 6.59% 30 Yr. Jumbo 6.27% +0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Sep 24, 2025 Mortgage Rates Fairly Flat Despite Bond Market Volatility Wed, Sep 24, 2025 3:41PM Over time, mortgage rate movement lines up almost perfectly with movement in the underlying bond market, but there can be day to day discrepancies depending on the timing of market volatility. Think of mortgage rates like a restaurant that adjusts menu prices daily depending on the price of ingredients. Sometimes, ingredient prices will change significantly and early in the day, thus prompting the restaurant to adjust menu prices in the middle of the day.  Other times, the ingredient prices may not change by enough or may happen too late in the day to prompt any change from the restauran... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.37% 0.00 0.00 15 Yr. Fixed 5.89% -0.01 0.00 30 Yr. FHA 6.05% -0.01 0.00 30 Yr. Jumbo 6.27% +0.01 0.00 7/6 SOFR ARM 5.82% +0.02 0.00 30 Yr. VA 6.08% +0.01 0.00 Updates Daily - Last Update: 9/24 Freddie Mac Rate Change Points 30 Yr. Fixed 6.26% -0.09 0.00 15 Yr. Fixed 5.41% -0.09 0.00 Updates Weekly - Last Update: 9/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.34% -0.05 0.57 15 Yr. Fixed 5.70% +0.07 0.69 30 Yr. Jumbo 6.44% -0.04 0.34 Updates Weekly - Last Update: 9/24 UMBS 30YR 5.0 99.25 -0.20   95.05 100.29 UMBS 30YR 5.5 100.91 -0.13   97.47 101.40 10 YR Treasury 4.144 +0.041   3.736 4.780 Quieter Calendar Leaves Focus on 5yr Auction Wed, Sep 24, 2025 11:33AM It would be an overstatement to say that this week's econ calendar has been "active," but yesterday at least had unscripted comments from Fed Chair Powell, several other Fed speakers, and an occasionally important S&P PMI report. In contrast, today's only monthly econ report is New Home Sales which is almost always a non-event for bonds and today is prov... (read more) MBS Price Change UMBS 4.5 97.17 -0.21 UMBS 5.0 99.25 -0.20 UMBS 5.5 100.91 -0.13 GNMA 4.5 97.18 -0.06 GNMA 5.0 99.50 -0.11 GNMA 5.5 100.76 -0.08 Pricing as of: 9/24 4:06PM EST US Treasury Yield Change 2 YR Treasury 3.597 +0.011 5 YR Treasury 3.709 +0.045 7 YR Treasury 3.899 +0.045 10 YR Treasury 4.144 +0.041 30 YR Treasury 4.755 +0.038 Pricing as of: 9/24 4:06PM EST Other News HELOC, Reverse, Borrower Mining, Fraud Detection Tools; MBA and Fannie Forecasts; What's up with Better? Wed, Sep 24, 2025 11:52AM “Yesterday I was devastated to learn that the 2025 Psychic Prediction Convention was cancelled due to unforeseen circumstances.” Yesterday, while the stock price of Better (BETR) zoomed to the moon (who saw that coming?), the audience at the Loan Vision Innovation event heard from the MBA’s VP Marina Walsh who, speaking for the MBA’s economics team and looki... (read more) Latest Video HousingWire's Logan Mohtashami: Whenever mortgage rates head near 6%, housi... New home sales jump Lee: The housing market is short about 5 million homes Fed Chair Powell: It's a low fire, low hire economy Around the Web CNBC New home sales soar 20% in August to a three-year high CNBC Mortgage demand stalls after mini refinance boom CNBC Seasonal retail hiring to fall to lowest level since 2009, signaling trouble for holidays, report says Eye on Housing Single-Family Construction Loan Volume Falls Back Calculated Risk Blog ICE First Look at August Mortgage Performance: "Delinquencies Up on Calendar Effect; Foreclosure Activity Slowly Trending Higher" Realtor.com Rent Isnt What It Seems: The Hidden Fees Driving Up Housing Costs and the States Taking Action Federal Reserve September 23, 2025 - Economic Outlook Chair Jerome H. Powell Eye on Housing Beyond the Official Unemployment Rate: A Deep Dive into U.S. Unemployment CNBC Single-family rent growth is starting to show new weakness CNBC Treasury yields tick lower as investors await further economic data CNBC Watch Fed Chair Jerome Powell speak live on interest rates and the economy CNBC Chicago Fed President Goolsbee says officials have to be careful not to get too aggressive with rate cuts Calculated Risk Blog Household Formation Drives Housing Demand

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