To their credit, most mortgage lenders did an admirable job of aggressively pricing-in the bond market rally after last Friday's jobs report. Many mortgage market pros repeat the phrase "stairs down, escalator up" when it comes to the pace at which lenders change rates. The idea is that lenders are quicker to raise rates than cut them, but this clearly wasn't the case this time. Because of that healthy level of aggression, there wasn't as much room for improvement at the start of the new week compared to other Mondays that follow weak jobs report numbers. Case in point, after the August 1st jobs report, the following Monday accounted for more than a quarter of the 2-day drop in rates.  Compare that to today which only accounted for about 5% of the 2-day drop. But gains are gains, and the small improvement brings the average top tier 30yr fixed rate to another 11-month low. [thirtyyearmortgagerates]

September 8, 2025 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.22% +0.09%   6.11% 7.26% 15 Yr. Fixed 5.75% +0.04%   5.54% 6.59% 30 Yr. Jumbo 6.14% -0.01%   6.14% 7.45% Compare Mortgage Rates from Local Lenders for Sep 8, 2025 Another 11-Month Low For Rates, But Just Barely Mon, Sep 8, 2025 3:34PM To their credit, most mortgage lenders did an admirable job of aggressively pricing-in the bond market rally after last Friday's jobs report. Many mortgage market pros repeat the phrase "stairs down, escalator up" when it comes to the pace at which lenders change rates. The idea is that lenders are quicker to raise rates than cut them, but this clearly wasn't the case this time. Because of that healthy level of aggression, there wasn't as much room for improvement at the start of the new week compared to other Mondays that follow weak jobs report numbers. Case in point, after the August 1st j... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.22% +0.09 0.00 15 Yr. Fixed 5.75% +0.04 0.00 30 Yr. FHA 5.95% +0.04 0.00 30 Yr. Jumbo 6.14% -0.01 0.00 7/6 SOFR ARM 5.65% 0.00 0.00 30 Yr. VA 5.98% +0.06 0.00 Updates Daily - Last Update: 9/17 Freddie Mac Rate Change Points 30 Yr. Fixed 6.35% -0.15 0.00 15 Yr. Fixed 5.50% -0.10 0.00 Updates Weekly - Last Update: 9/11 Mortgage Bankers Assoc. 30 Yr. Fixed 6.49% -0.15 0.56 15 Yr. Fixed 5.70% -0.14 0.55 30 Yr. Jumbo 6.44% -0.14 0.48 Updates Weekly - Last Update: 9/10 UMBS 30YR 5.0 99.70 +0.11   95.05 100.50 UMBS 30YR 5.5 101.14 +0.11   97.47 101.61 10 YR Treasury 4.071 -0.010   3.706 4.780 More Gains Despite Absence of New Motivation Mon, Sep 8, 2025 3:33PM More Gains Despite Absence of New Motivation There's not much to say about Monday other than "we'll take it!" Despite an absence of new motivations (today's data wasn't in the "market mover" category), bonds added to last week's already brisk rally.  Longer-term yields outperformed as the yield curve continued a... (read more) MBS Price Change UMBS 4.5 97.71 +0.09 UMBS 5.0 99.70 +0.12 UMBS 5.5 101.15 +0.12 GNMA 4.5 98.10 +0.08 GNMA 5.0 100.00 +0.17 GNMA 5.5 101.02 +0.13 Pricing as of: 9/17 11:45PM EST US Treasury Yield Change 2 YR Treasury 3.536 -0.027 5 YR Treasury 3.633 -0.023 7 YR Treasury 3.819 -0.020 10 YR Treasury 4.068 -0.013 30 YR Treasury 4.669 -0.018 Pricing as of: 9/17 11:45PM EST Other News LOS, Title, Social Media Tools; Financial Literacy; What the Employment Data Portends Mon, Sep 8, 2025 11:43AM “When the economy is good, people drink. When the economy is bad, people drink. The moral? Invest in alcohol.” Here in Boise at the PNMLC, the comments about Friday’s jobs data (showing a worsening employment picture) and economy ranged from, “It’s about time we have accurate numbers that we can rely upon” to “The Trump Administration is still blaming the pe... (read more) Latest Video Former Cleveland Fed President Mester: I would move ahead with a 25 bps cut... Bond yields fall ahead of key economic reports Mortgage rates drop on jobs report NY Fed Survey finds the outlook for job seekers hit record low Around the Web CNBC Traders see a chance the Fed cuts by a half point Politico Scott Bessent Threatens an Administration Rival Eye on Housing Purchase Activity Slips Despite Lower Mortgage Rates Calculated Risk Blog September ICE Mortgage Monitor: House Prices Up Slightly Year-over-year Calculated Risk Blog What will happen with House Prices? CNBC Worker confidence in finding a new job hits record low in New York Fed survey Calculated Risk Blog Housing September 8th Weekly Update: Inventory Down 1.7% Week-over-week CNBC Treasury yields little changed as investors look toward key inflation data CNBC Payrolls rose 22,000 in August, less than expected in further sign of hiring slowdown Calculated Risk Blog Comments on August Employment Report Calculated Risk Blog Q3 GDP Tracking Yahoo Companies tap US bond market for nearly $70 billion, starting September on a busy note CNBC Demand for industrial space falls for the first time in 15 years

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