Mortgage rates have broadly been in a narrow holding pattern for the past 4 months and an even narrower range during December. Today will do nothing to change that with the average lender ending the day exactly where they left of yesterday. Earlier today, however, the average lender was offering slightly higher higher rates. The upward pressure came courtesy of the bond market's reaction to stronger GDP numbers for Q3. But that initial reaction proved to be a temporary overreaction, exacerbated by lighter trading participation associated with the holiday week.  In general, lower participation greases the skids for volatility, essentially magnifying the impact of events that might not have much of an impact otherwise. The bond market is technically open tomorrow (and thus, lenders will publish mortgage rates), but it should be even more heavily affected by holiday trading vibes.  Also, there isn't much in terms of important econ data to cause the kind of volatility seen today--no to mention the fact that today's volatility ultimately proved to be non-existent.

December 23, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.24% +0.00%   6.13% 7.26% 15 Yr. Fixed 5.75% +0.01%   5.6% 6.59% 30 Yr. Jumbo 6.42% +0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Dec 23, 2025 Mortgage Rates Ultimately Unchanged After Starting Higher Tue, Dec 23, 2025 4:11PM Mortgage rates have broadly been in a narrow holding pattern for the past 4 months and an even narrower range during December. Today will do nothing to change that with the average lender ending the day exactly where they left of yesterday. Earlier today, however, the average lender was offering slightly higher higher rates. The upward pressure came courtesy of the bond market's reaction to stronger GDP numbers for Q3. But that initial reaction proved to be a temporary overreaction, exacerbated by lighter trading participation associated with the holiday week.  In general, lower particip... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.24% 0.00 0.00 15 Yr. Fixed 5.75% +0.01 0.00 30 Yr. FHA 5.88% +0.01 0.00 30 Yr. Jumbo 6.42% +0.02 0.00 7/6 SOFR ARM 5.81% +0.01 0.00 30 Yr. VA 5.89% 0.00 0.00 Updates Daily - Last Update: 12/23 Freddie Mac Rate Change Points 30 Yr. Fixed 6.21% -0.01 0.00 15 Yr. Fixed 5.47% -0.07 0.00 Updates Weekly - Last Update: 12/18 Mortgage Bankers Assoc. 30 Yr. Fixed 6.33% +0.01 0.60 15 Yr. Fixed 5.71% -0.02 0.64 30 Yr. Jumbo 6.46% +0.06 0.35 Updates Weekly - Last Update: 12/10 UMBS 30YR 5.0 99.65 +0.01   95.05 100.11 UMBS 30YR 5.5 101.26 +0.00   97.47 101.40 10 YR Treasury 4.165 -0.001   3.932 4.780 GDP Reaction a Prime Example of Holiday Distortion Tue, Dec 23, 2025 9:54AM We've spent the past several days reiterating and lamenting the onset of the holiday trading doldrums--a time of year that sees vastly lower volumes/liquidity/participation, and thus runs the risk of volatility that's more random and larger than it otherwise would be. Now this morning, GDP came in much higher than expected and bonds are selling off somewhat ... (read more) MBS Price Change UMBS 4.5 97.55 -0.02 UMBS 5.0 99.65 +0.02 UMBS 5.5 101.26 +0.01 GNMA 4.5 97.24 -0.02 GNMA 5.0 99.65 -0.02 GNMA 5.5 100.86 -0.01 Pricing as of: 12/24 3:35AM EST US Treasury Yield Change 2 YR Treasury 3.530 +0.002 5 YR Treasury 3.738 +0.005 7 YR Treasury 3.934 -0.005 10 YR Treasury 4.161 -0.005 30 YR Treasury 4.822 -0.003 Pricing as of: 12/24 3:35AM EST Other News AI, Cap Mkts Tools; Delinquencies Increasing; loanDepot Case Ethics Motion; Bill Dawley Interview Tue, Dec 23, 2025 11:52AM Will rates impact the latest MBA origination forecast of $2.2 trillion next year? Sure, although… The Federal Reserve has cut overnight rates, but longer-term rates (like 15- and 30-year mortgages) have done little or have gone up. Recently news came out that Freddie and Fannie are buying securities that they produce. If GM is buying its own cars, should its... (read more) Latest Video November home sales struggle as supply stalls U.S. economy grows by 4.3% in third quarter, much more than expected, delay... Industrial production increased in November December consumer confidence disappoints at 89.1, below the 91.0 estimate Around the Web EPB Research The 20% of the Economy That Drives 100% of Recessions CNBC U.S. economy grows by 4.3% in third quarter, much more than expected, delayed report shows Calculated Risk Blog Final Look at Housing Markets in November and a Look Ahead to December Sales PR Newswire US Consumer Confidence Fell Again in December Calculated Risk Blog Question #10 for 2026: Will inventory increase further in 2026? Eye on Housing State-Level Employment Situation: September 2025 ADP Research ADP National Employment Report Preliminary Estimate December 6, 2025 Calculated Risk Blog Housing December 22nd Weekly Update: Inventory Down 2.3% Week-over-week FXStreet US Durable Goods Orders decline 2.2% in October vs -1.5% expected Calculated Risk Blog Lawler: Another Strange NAR Reading on Northeast Median Sales Prices CNBC U.S. Treasury yields edge higher as investors prepare for holiday-shortened week CNBC U.S. Treasury yields decline ahead of key debt auctions Calculated Risk Industrial Production Increased 0.2% in November; Declined 0.1% in October

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