Mortgage rates continue enjoying a completely different volatility regime compared to just a few weeks ago.  Back then, it wasn't a surprise to see the top tier average rate move by more than 0.10% on any given day, nor was it uncommon to see multiple changes during the same day. Fast forward to the present week and the average lender hasn't strayed from Friday's levels by more than a few hundredths of a percent. Moreover, the "straying" has been exclusively in a friendly direction.   Today's installment was the least eventful of the 3 days so far this week.  The bond market worked through its volatility before mortgage lenders set rates for the day and there hasn't been much movement after that.  As such, the average lender was able to set rates right in line with yesterday and leave them there for the duration. In outright terms, the average top tier 30yr fixed rate is at 6.81%, which can mean most individual rate quotes are going out between 6.625% and 6.875% (for a best case scenario). 6.75% is a less common rate due to the structure of the underlying mortgage bond market (for reasons that are beyond the scope of this article, this basically means that by the time you're moving down from 6.875, the next lower rate that makes sense to quote is 6.75%, with some limited exceptions). As always, no one should read much into the outright level of a mortgage rate index.  An individual scenario can vary significantly based on several factors.  Instead, focus on the day over day change.

April 30, 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 30, 2025 Another Small Victory For Mortgage Rates Wed, Apr 30, 2025 4:19PM Mortgage rates continue enjoying a completely different volatility regime compared to just a few weeks ago.  Back then, it wasn't a surprise to see the top tier average rate move by more than 0.10% on any given day, nor was it uncommon to see multiple changes during the same day. Fast forward to the present week and the average lender hasn't strayed from Friday's levels by more than a few hundredths of a percent. Moreover, the "straying" has been exclusively in a friendly direction.   Today's installment was the least eventful of the 3 days so far this week.  The bond mar... (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 Lots of Econ Data and Mixed Messages, But Not Much Change in Bonds Wed, Apr 30, 2025 11:31AM In terms of line items, Wednesday morning is the week's most active morning for economic reports. Several of them were potentially important, but the net effect has been muted so far.  In fact, MBS are perfectly unchanged despite an initial sell-off at 8:30am.  Long story short, GDP was a bit better than expected after accounting for the impact of ... (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 6:18PM 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 6:18PM EST Other News Buy Before You Sell, Jumbo, CRM Tools; Climate and Catastrophes; Fannie Earnings Wed, Apr 30, 2025 11:48AM I don’t know where April went, but we’re at the end of it, and 2025 is 1/3 over. The future sure quickly becomes the past. In the book “1984” George Orwell observed, “Who controls the past controls the future. Who controls the present controls the past.” What does that have to with today, or with residential lending? There’s no problem if there’s no one to r... (read more) Latest Video Pending home sales up 6.1% vs. 1% estimated Compass CEO: New construction homes are getting cheaper than existing homes Conference Board CEO: Consumer confidence is surprisingly stable, but worri... Consumer confidence weakest since April 2020 Around the Web Forex Live US March PCE core +2.6% y/y vs +2.6% expected CNBC U.S. economy shrunk 0.3% in the first quarter as Trump policy uncertainty weighed on businesses Seeking Alpha Chicago PMI contracts more than expected in April CNBC Private payroll growth slowed to 62,000 in April, well below expectations CNBC Why Lennar is betting on a startup building backup batteries for Texas homes Forex Live Job openings in the U.S. fall to six-month low. Trade wars could further depress hiring. Calculated Risk Blog MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey Marketwatch Consumer confidence sinks for fifth month in a row to lowest since depth of pandemic Calculated Risk Blog Personal Income increased 0.5% in March; Spending increased 0.7% US Treasury Quarterly Refunding Statement of Acting Assistant Secretary for Financial Markets Brian Smith CNBC Commerce Secretary Lutnick says one trade deal is done, but waiting on approval from unnamed country's leaders Calculated Risk Blog NAR: Pending Home Sales Increase 6.1% in March; Down 0.6% YoY CNBC Treasury yields hold steady as investors await a batch of economic data

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