The two days of 2025 with the lowest rates were September 16th...
The two days of 2025 with the lowest rates were September 16th and October 28th. Both days happened to be the Tuesdays that preceded Fed rate cuts. On both occasions, those rate cuts were delivered with other comments from the Fed that the bond market didn't like. The net effect is/was two very obvious dips and spikes. The second half of December saw the average 30yr fixed mortgage rate inch closer and closer to those previous lows, but we're still not quite there yet. Today was just another day in that saga as the average lender held right in line with Friday's latest levels. Bottom line: at current levels, any day that rates spend holding steady or moving microscopically lower will technically result in the lowest rates since October 28th. It would take a more noticeable improvement to break below that floor. When and if that happens, rates will be the lowest since early 2023. [thirtyyearmortgagerates]
The two days of 2025 with the lowest rates were September 16th and October 28th. Both days happened to be the Tuesdays that preceded Fed rate cuts. On both occasions, those rate cuts were delivered with other comments from the Fed that the bond market didn't like. The net effect is/was two very obvious dips and spikes. The second half of December saw the average 30yr fixed mortgage rate inch closer and closer to those previous lows, but we're still not quite there yet. Today was just another day in that saga as the average lender held right in line with Friday's latest levels. Bottom... (read more)
By 10am ET, today's trading volume has already surpassed that seen on December 23rd and 26th (both full trading days)--proof positive that the market is shifting out of holiday mode. Over the past 3 weeks, bonds did a perfect job of holding inside the forgettable sideways range marked by 4.10-4.20 in 10yr yields. A breakout on either side of that range becom... (read more)
Redfin is calling next year the beginning of “The Great Reset,” when wages will grow faster than home prices for the first time since 2008. Eventually, that could mean affordable houses. But not this year. Mortgage banking isn’t a career most people plan; but for those it finds, it can become a calling. In this personal and candid essay, Bill Dawley traces h... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.
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