Mortgage rates are an extension of the financial market, so it's no surprise that they've been more volatile than normal over the past few weeks as markets react to fiscal headlines. The latest dust-up involved Trump's criticism of Fed Chair Powell which resulted in higher rates over the weekend. Now today we've had several comments from Trump (starting yesterday evening) saying that he was never planning to fire Powell and just generally conveying a more measured tone. Financial markets responded favorably. Had this been the only news of the day, rates would have dropped almost an eighth of a point.  We can arrive at this conclusion due to trading levels in the bond market at the time.  But other news pushed back in the other direction. Specifically, a closely watched gauge of business activity showed the sharpest spike in prices in 13 months in the services sector and 29 months for the manufacturing sector. Higher inflation begets higher rates, all other things being equal. Many mortgage lenders were forced to raise rates during the day, ultimately resulting in today's average being only modestly lower than yesterday's.  

April 23, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.15% -0.02%   6.01% 7.13% 15 Yr. Fixed 5.72% -0.03%   5.55% 6.5% 30 Yr. Jumbo 6.33% -0.02%   6.1% 7.45% Compare Mortgage Rates from Local Lenders for Apr 23, 2025 Mortgage Rates Pulled in Two Directions, But End Day Lower Wed, Apr 23, 2025 4:12PM Mortgage rates are an extension of the financial market, so it's no surprise that they've been more volatile than normal over the past few weeks as markets react to fiscal headlines. The latest dust-up involved Trump's criticism of Fed Chair Powell which resulted in higher rates over the weekend. Now today we've had several comments from Trump (starting yesterday evening) saying that he was never planning to fire Powell and just generally conveying a more measured tone. Financial markets responded favorably. Had this been the only news of the day, rates would have dropped almost an eighth of... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.15% -0.02 0.00 15 Yr. Fixed 5.72% -0.03 0.00 30 Yr. FHA 5.75% -0.05 0.00 30 Yr. Jumbo 6.33% -0.02 0.00 7/6 SOFR ARM 5.56% -0.03 0.00 30 Yr. VA 5.77% -0.04 0.00 Updates Daily - Last Update: 2/6 Freddie Mac Rate Change Points 30 Yr. Fixed 6.11% +0.01 0.00 15 Yr. Fixed 5.50% +0.01 0.00 Updates Weekly - Last Update: 2/5 Mortgage Bankers Assoc. 30 Yr. Fixed 6.24% +0.08 0.55 15 Yr. Fixed 5.64% +0.09 0.61 30 Yr. Jumbo 6.34% -0.05 0.40 Updates Weekly - Last Update: 1/28 UMBS 30YR 5.0 100.05 +0.01   95.71 100.50 UMBS 30YR 5.5 101.49 +0.04   98.11 101.64 10 YR Treasury 4.213 +0.033   3.932 4.608 What's Up With Today's Big Bond Rally?! Wed, Apr 23, 2025 10:17AM Two factors had been contributing more than others to drive bond yields higher as of yesterday.  The broader, ongoing factor is/was the tariff/trade stand-off with China. Whether approached through the lens of inflation or decreased foreign appetite for USD assets (a byproduct of decreased consumption of foreign imports), excessive tariffs have not been... (read more) MBS Price Change UMBS 4.5 98.06 +0.03 UMBS 5.0 100.05 +0.01 UMBS 5.5 101.49 +0.04 GNMA 4.5 97.84 +0.10 GNMA 5.0 100.18 +0.11 GNMA 5.5 101.22 -0.02 Pricing as of: 2/7 7:14AM EST US Treasury Yield Change 2 YR Treasury 3.496 +0.044 5 YR Treasury 3.753 +0.036 7 YR Treasury 3.965 +0.026 10 YR Treasury 4.213 +0.033 30 YR Treasury 4.851 +0.006 Pricing as of: 2/7 7:14AM EST Other News Warehouse, AI Scenario, Processing Tools; Freddie and Fannie Changes; Mr. Cooper's New MBS Wed, Apr 23, 2025 11:50AM “I won a million dollars and donated a quarter of it to charity! I now have $999999.75 left.” Money can be funny… or not. In the past, a “flight to quality” or “flight to safety” didn’t involve feckless investors searching for a place to park their money when there was turmoil in the world. It usually involved buying securities issued in the United States, l... (read more) Latest Video Preliminary April PMI surprises to upside New home sales 724K vs. 685K estimated Richmond Fed President Tom Barkin: A lot of reasons to be worried about con... Uncertainty around trade policy 'pervasive' across reports, Fed Beige Book ... Around the Web CNBC Consumer spending is up big in early April as people buy in anticipation of tariffs CNBC Business already are trying to pass tariff cost onto customers, Fed report says CNBC Weekly mortgage demand plunges nearly 13%, as interest rates hit 2-month high Forex Live US new home sales for March 0.724M vs 0.680M estimate Calculated Risk Blog Fed's Beige Book: "Economic outlook worsened considerably" Forex Live S&P global manufacturing PMI for April 50.7 versus 49.1 estimate. CNBC 10-year treasury yield dips after Trump backtracks plans to axe Fed chief Investing.com Fed’s Goolsbee sees tech-driven boom in US economy Investing Trump said ’doing fine’ with China, has no plans to fire Powell CNBC Trump says 'there is a chance' tariff revenue could replace the income tax. Economists are skeptical CNBC What student loan borrowers need to know about 'involuntary collections' CNBC Watch live: Treasury chief Scott Bessent delivers a speech about the global financial system CNBC Bessent says he expects 'de-escalation' in U.S.-China tariff fight in the 'very near future'

© 2026  Mortgage News Daily, LLC. | 19701 Bethel Church Rd. | Cornelius, NC 28031 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. This email was sent to: [recipientemail]. Go here to UNSUBSCRIBE from this email.