Mortgage applications jumped 9.2% last week, according to the Mortgage Bankers Association’s survey for the week ending September 5, 2025. The results included an adjustment for the Labor Day holiday. “Mortgage rates declined for the second consecutive week as Treasury yields moved lower on data indicating that the labor market is weakening. The 30-year fixed rate decreased to 6.49 percent, down 20 basis points over the past two weeks to the lowest since October 2024,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “The downward rate movement spurred the strongest week of borrower demand since 2022, with both purchase and refinance applications moving higher. Purchase applications increased to the highest level since July and continued to run more than 20 percent ahead of last year’s pace. There was also a pickup in ARM applications, both in terms of level and share, as ARM rates were considerably lower than fixed rate loans, which typically benefits homebuyers.” The Refinance Index rose 12% from the previous week and is 34% higher than the same week a year ago. The Purchase Index increased 7% on a seasonally adjusted basis and is now 23% higher than last year’s level. The refinance share of total mortgage applications increased to 48.8%. ARM share rose to 9.2%. FHA share decreased to 18.5%, while VA share climbed to 15.3%. Mortgage Rate Summary: 30yr Fixed: 6.49% (from 6.64%) | Points: 0.56 (from 0.59) 15yr Fixed: 5.70% (from 5.84%) | Points: 0.55 (from 0.84) Jumbo 30yr: 6.44% (from 6.58%) | Points: 0.48 (from 0.39) FHA: 6.27% (from 6.31%) | Points: 0.68 (from 0.74) 5/1 ARM: 5.77% (from 5.90%) | Points: 0.63 (from 0.34)

September 10, 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 10, 2025 Mortgage Rates Hold Steady With Help From Econ Data Wed, Sep 10, 2025 4:02PM Wednesday brought the first of this week's two key inflation reports. While the Producer Price Index (PPI) is the lesser of the two in terms of potential impact on rates, it came in far enough below expectations to make for a measurable improvement. The catch is that the improvement in question pertains to the underlying bond market. Before the data, bonds were slightly weaker, thus suggesting slightly higher rates.  But lenders don't release their rates for the day until a few hours of trading have commenced.  This leaves time for markets to react to early AM data such as today's P... (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 99.59 -0.37   95.05 100.50 UMBS 30YR 5.5 101.03 -0.20   97.47 101.61 10 YR Treasury 4.081 +0.050   3.643 4.780 Helpful Data and Treasury Auction Set High Bar For CPI Wed, Sep 10, 2025 4:28PM Helpful Data and Treasury Auction Set High Bar For CPI Another fairly straightforward day for the bond market with friendly econ data and a strong 10yr Treasury auction both helping push yields lower. If it seems like the size of the miss in the PPI data justified a bigger move, consider the fact that it's an incredi... (read more) Super Cool PPI Makes For a Stronger Start Wed, Sep 10, 2025 11:27AM Of the two inflation reports out this week, PPI is the lesser of the two in terms of importance, but it came in far enough below forecasts to prompt some bond buying to start the day. PPI is a complex report relative to CPI, but one of the simplest takeaways from today's data is that wholesalers drastically decreased the extent to which they were passing alo... (read more) MBS Price Change UMBS 4.5 97.63 -0.41 UMBS 5.0 99.59 -0.37 UMBS 5.5 101.03 -0.20 GNMA 4.5 98.02 -0.14 GNMA 5.0 99.82 -0.38 GNMA 5.5 100.89 -0.32 Pricing as of: 9/17 8:27PM EST US Treasury Yield Change 2 YR Treasury 3.564 +0.060 5 YR Treasury 3.656 +0.070 7 YR Treasury 3.839 +0.068 10 YR Treasury 4.081 +0.050 30 YR Treasury 4.688 +0.036 Pricing as of: 9/17 8:27PM EST Other News Obvious Signs of Life in Mortgage Apps Thanks to Rate Rally Wed, Sep 10, 2025 11:34AM Mortgage applications jumped 9.2% last week, according to the Mortgage Bankers Association’s survey for the week ending September 5, 2025. The results included an adjustment for the Labor Day holiday. “Mortgage rates declined for the second consecutive week as Treasury yields moved lower on data indicating that the labor market is weakening. The 30-year fix... (read more) Non-QM, Post-Closing, QC, Warehouse Products; Pulte vs. Bessent; Conventional Conforming Updates; Nice Jump in Apps Wed, Sep 10, 2025 11:46AM “Rob, I hate it when mom and dad fight. Will this Pulte/Bessent, FHFA/Treasury tussle impact mortgage rates?” Probably not; it hasn’t so far. Director Pulte is certainly in the news. Occupancy isn’t a partisan issue, right?! FHFA Director Pulte, who continues to point out potential fraud by Fed. Governor Lisa Cook (who a Federal judge ruled yesterday could s... (read more) Latest Video Senate Banking Committee votes to recommend Stephen Miran for Fed seat Wholesale prices unexpectedly declined 0.1% in August, as Fed rate decision... Payroll revisions in focus: Here's what to know Wholesale inventories +0.1% vs. +0.2 estimated Around the Web CNBC These 7 major cities are favoring buyers as the U.S. housing market reaches a 'rare state of balance' CNBC Important inflation reports this week expected to show prices still on the rise Calculated Risk Blog CPI Preview Eye on Housing Share of New Homes with Patios Edges Down for First Time in Fifteen Years Bureau of Labor and Statistics Current Employment Statistics Preliminary Benchmark (National) Summary CNBC Wholesale prices unexpectedly declined 0.1% in August, as Fed rate decision looms CNBC Mortgage demand jumps to the highest level in three years, as interest rates drop sharply Calculated Risk Blog Cotality: House Prices Increased 1.4% YoY in July CNBC Job growth revised down by 911,000 through March, signaling economy on shakier footing than realized CNBC Treasury yields rise as investors look ahead to key inflation data Eye on Housing Year-over-Year Building Material Price Growth Advances Calculated Risk Blog 1st Look at Local Housing Markets in August Eye on Housing Who Are NAHB Remodelers?

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