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The bond market is scheduled to close 3 hour earlier than normal today--a common practice surrounding federal holiday weekends. This means 3 fewer hours where trading volatility can have an impact on mortgage rate movement. Said more simply: the day is basically over when it comes to potential intraday rate changes.
There is almost always a bit of rate movement overnight as mortgage lenders react to a new market landscape each morning. Today's happened to be good news for rates, but not quite good enough to get the average top tier 30yr fixed scenario back under 7%.
7% rates aren't new, but it's been more than 3 months since we've seen them with any regularity. Nonetheless, they are quite regular in the bigger picture over the past few years. With a long term high of 8.03% in October 2023 and a subsequent low near 6% about a year later, 7% is exceedingly "middle of the road."
Rate | Points | Change | |
---|---|---|---|
5/23/25
Mortgage News Daily - daily
|
|||
30 Yr. Fixed | 7.02% | -- | -0.05% |
15 Yr. Fixed | 6.30% | -- | -0.07% |
30 Yr. Jumbo | 7.13% | -- | -0.02% |
7/6 SOFR ARM | 6.31% | -- | -0.11% |
30 Yr. FHA | 6.53% | -- | +0.00% |
30 Yr. VA | 6.54% | -- | +0.00% |
5/22/25
Freddie Mac - weekly
|
|||
30 Yr. Fixed | 6.86% | 0.00 | +0.05% |
15 Yr. Fixed | 6.01% | 0.00 | +0.09% |
5/21/25
MBA - weekly
|
|||
30 Yr. Fixed | 6.92% | 0.69 | +0.06% |
15 Yr. Fixed | 6.21% | 0.72 | +0.09% |
30 Yr. FHA | 6.60% | 0.96 | +0.01% |
30 Yr. Jumbo | 6.94% | 0.72 | +0.09% |
7/6 SOFR ARM | 6.16% | 0.36 | +0.07% |
Change | 52 Week Range | |||||||
---|---|---|---|---|---|---|---|---|
Rate | Points | Previous | 1 Year | Low | High | |||
as of 5/23/25
Mortgage News Daily - updated daily
|
||||||||
30 Yr. Fixed | 7.02% | -- | -0.05% | -0.15% | 6.11% |
|
7.34% | |
15 Yr. Fixed | 6.30% | -- | -0.07% | -0.40% | 5.54% |
|
6.80% | |
30 Yr. Jumbo | 7.13% | -- | -0.02% | -0.29% | 6.37% |
|
7.54% | |
7/6 SOFR ARM | 6.31% | -- | -0.11% | -0.98% | 5.95% |
|
7.39% | |
30 Yr. FHA | 6.53% | -- | +0.00% | -0.17% | 5.65% |
|
6.85% | |
30 Yr. VA | 6.54% | -- | +0.00% | -0.20% | 5.66% |
|
6.87% | |
as of 5/22/25
Freddie Mac - updated weekly
|
||||||||
30 Yr. Fixed | 6.86% | 0.00 | +0.05% | -0.16% | 6.08% |
|
7.04% | |
15 Yr. Fixed | 6.01% | 0.00 | +0.09% | -0.27% | 5.15% |
|
6.36% | |
as of 5/21/25
Mortgage Bankers Association - updated weekly
|
||||||||
30 Yr. Fixed | 6.92% | 0.69 | +0.06% | -0.16% | 6.13% |
|
7.09% | |
15 Yr. Fixed | 6.21% | 0.72 | +0.09% | -0.40% | 5.42% |
|
6.75% | |
30 Yr. FHA | 6.60% | 0.96 | +0.01% | -0.29% | 5.99% |
|
6.90% | |
30 Yr. Jumbo | 6.94% | 0.72 | +0.09% | -0.28% | 6.41% |
|
7.22% | |
7/6 SOFR ARM | 6.16% | 0.36 | +0.07% | -0.40% | 5.66% |
|
6.64% |