After moving moderately lower to start the new week yesterday, mortgage rates backtracked ever-so-slightly today.  Top tier conventional 30yr fixed rates remain just under 7% for the average lender.  They spent 3 days above that mark last week. Rates can move for a variety of reasons with some of the most common being surprising results in big economic reports. That was not a factor today.  Rather, as traders prepared for this afternoon's auction of 5yr Treasuries, the rate market faced some headwinds. The securities that underlie mortgage pricing take major cues from US Treasuries. If investors are more hesitant to buy Treasuries, as they were this morning, it can put some upward pressure on all related rates. All that having been said, the pressure was small enough to be ignored in today's case.  There will be higher-consequence economic data over the next 2 days and thus additional risk of bigger swings.

May 28, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.31% -0.01%   6.13% 7.26% 15 Yr. Fixed 5.83% -0.01%   5.6% 6.59% 30 Yr. Jumbo 6.22% -0.03%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for May 28, 2025 Mortgage Rates Hold Mostly Steady Wed, May 28, 2025 4:13PM After moving moderately lower to start the new week yesterday, mortgage rates backtracked ever-so-slightly today.  Top tier conventional 30yr fixed rates remain just under 7% for the average lender.  They spent 3 days above that mark last week. Rates can move for a variety of reasons with some of the most common being surprising results in big economic reports. That was not a factor today.  Rather, as traders prepared for this afternoon's auction of 5yr Treasuries, the rate market faced some headwinds. The securities that underlie mortgage pricing take major cues from US Treas... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.31% -0.01 0.00 15 Yr. Fixed 5.83% -0.01 0.00 30 Yr. FHA 6.03% 0.00 0.00 30 Yr. Jumbo 6.22% -0.03 0.00 7/6 SOFR ARM 5.72% -0.10 0.00 30 Yr. VA 6.05% +0.01 0.00 Updates Daily - Last Update: 10/14 Freddie Mac Rate Change Points 30 Yr. Fixed 6.30% -0.04 0.00 15 Yr. Fixed 5.53% -0.02 0.00 Updates Weekly - Last Update: 10/9 Mortgage Bankers Assoc. 30 Yr. Fixed 6.43% -0.03 0.60 15 Yr. Fixed 5.77% +0.01 0.79 30 Yr. Jumbo 6.60% +0.06 0.44 Updates Weekly - Last Update: 10/8 UMBS 30YR 5.0 99.66 +0.07   95.05 99.96 UMBS 30YR 5.5 101.11 +0.11   97.47 101.28 10 YR Treasury 4.029 -0.004   3.932 4.780 Hesitation Ahead of Treasury Auction and Month-End Wed, May 28, 2025 12:14PM After starting the holiday-shortened week on a positive note yesterday, bonds are already circling the wagons and encountering some resistance. This doesn't necessarily kill the notion of a supportive ceiling overhead, but it does confirm the broader, persistent reality: bonds will need a compelling reason for sustained improvement.  This could take the... (read more) MBS Price Change UMBS 4.5 97.69 +0.19 UMBS 5.0 99.68 +0.09 UMBS 5.5 101.11 +0.11 GNMA 4.5 97.61 +0.04 GNMA 5.0 99.86 +0.11 GNMA 5.5 100.91 -0.03 Pricing as of: 10/14 3:51PM EST US Treasury Yield Change 2 YR Treasury 3.481 -0.022 5 YR Treasury 3.606 -0.020 7 YR Treasury 3.797 -0.019 10 YR Treasury 4.027 -0.006 30 YR Treasury 4.627 +0.008 Pricing as of: 10/14 3:51PM EST Other News MBS Pooling, CRM, Processing Tools; Second, HELOC, ITIN, Jumbo Product News; Builder CEO Survey Wed, May 28, 2025 11:40AM Overheard in the hallways at last week’s MBA conference: “At my age, instead of a condom I carry a moist towelette in my wallet. At my age, I run into buffalo wings far more often than sex.” There is always news in our biz (like rumors of Guild and Bayview, layoffs at nCino), but the industry, age jokes aside, continues to talk about the topics that were dis... (read more) Latest Video Fannie Mae and Freddie Mac could be worth trillions of dollars, says chairm... Fed: Committee well-positioned to wait for more clarity on inflation and ec... The Fed is likely to be able to ease rates near year-end, says JPMorgan's M... Consumer confidence comes in strong at 98 vs 86 estimated Around the Web CNBC Fed worried it could face 'difficult tradeoffs' if tariffs reaggravate inflation, minutes show Marketwatch Treasury Secretary Bessent has a plan to bring down long-term yields. But will it work? Calculated Risk Blog Inflation Adjusted House Prices 1.0% Below 2022 Peak; Price-to-rent index is 8.1% below 2022 peak CNBC Mortgage rates rose to the highest level since January, but demand from homebuyers still grew. Here's why. Calculated Risk Blog FDIC: Commercial Real Estate "Past-Due and nonaccrual" Highest Since 2014 Eye on Housing Aging-in-Place Remodeling Work Fell While Familiarity and Receptiveness Remain High FHFA U.S. House Prices Rise 4.0 Percent over the Prior Year; Up 0.7 Percent from the Fourth Quarter of 2024 Calculated Risk Blog A few comments on the Seasonal Pattern for House Prices Federal Reserve Bank of Dallas Texas manufacturing production flat, new orders fall CNBC Consumer confidence for May was much stronger than expected on optimism for trade deals S&P Corelogic S&P Corelogic Case-Shiller Index Records 3.4% Annual Gain in March 2025 Eye on Housing Building Material Price Growth Minimal in April CNBC Treasury yields inch higher as investors monitor U.S.-EU trade talks

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